Cetera Networking Agreement to Bolster New England Credit Union Investor Program
Lighthouse Credit Union entered into a networking agreement with Cetera Financial Institutions late last month in the delivery of Lighthouse Wealth Advisors: its member-focused investment program.
Lighthouse, established in 1936 at the Portsmouth Naval Shipyard in Maine, has grown significantly over the years. As of Dec. 1, 2024, it managed approximately $2 billion in assets and served more than 165,000 members. Recently, the credit union transitioned from a state to a federal charter, expanding its ability to serve members beyond its traditional footprint in New Hampshire and Maine. Through its foundation, Lighthouse Credit Union has donated over $500,000 to local nonprofits in the last year.
“We are proud to welcome a financial institution as dedicated to its members and their communities as Lighthouse Credit Union,” said LeAnn Rummel, president and chief executive officer of Cetera Investment Services. “I appreciate the confidence Lighthouse Credit Union has placed in our capabilities. We look forward to helping the team expand and grow their investment program so they may continue to enhance the already outstanding care they offer their members.
Lighthouse, too, expressed appreciation for the partnership.
“We’re excited to partner with Cetera Investment Services,” said John Olerio, vice president of wealth management at Lighthouse Credit Union. “From our first meeting, it was clear that their values aligned with ours. Together, we’re dedicated to enhancing member services by leveraging cutting-edge technology to deliver personalized wealth management solutions.”
Cetera Financial Group, which is owned by Cetera Holdings, serves approximately 12,000 independent financial professionals and their teams, including tax professionals, banks, and credit unions in providing financial planning and wealth management services.
Cetera Financial Group refers to the network of independent retail firms encompassing, among others, Cetera Investment Advisers LLC, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions, and Cetera Financial Specialists LLC.
Earlier in the month, Citadel Credit Union entered into a networking agreement with Cetera Financial Institutions to support and grow its investment services program. Serving more than 260,000 members, Citadel Credit Union is one of the largest locally owned financial institutions in the Greater Philadelphia area. Also in December, Wisconsin-based, $465 million First Citizens State Bank entered into a network agreement with Cetera Financial Institutions to support and grow its investment program called First Citizens Investment Services.
Cetera Financial Group oversees more than $545 billion in assets under administration and $235 billion in assets under management, as of Sept. 30, 2024.
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