New England-based credit union with 88-year legacy to partner with Cetera Financial
Institutions to grow and deliver member-focused investment program
SAN DIEGO , Dec. 17, 2024 /PRNewswire/ -- Cetera Financial Group, the premier financial advisor Wealth Hub, announced that Lighthouse Credit Union has entered into a networking agreement with Cetera Financial Institutions in the delivery of its member-focused investment program, Lighthouse Wealth Advisors.
Lighthouse Credit Union, established in 1936 at the Portsmouth Naval Shipyard in Maine, has grown significantly over the years. Today, it manages approximately $2 billion in assets as of Dec. 1, 2024, and serves 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, creating a meaningful impact in the communities it serves.
"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 CEO 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."
"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 Institutions is a community within Cetera Investment Services that supports the investment programs of over 450 banks and credit unions. Cetera Investment Services is celebrating its 40-year anniversary in 2024, and with nearly 70 renewals signed through October 2024, Cetera Financial Institutions' current retention rate is 99 percent for all institutions.
Click here for more information about Cetera Financial Institutions.
About Cetera
Cetera Financial Group, which is owned by Cetera Holdings (collectively, Cetera), is the premier financial advisor Wealth Hub where financial advisors and institutions optimize their control and value creation. Breaking away from a commoditized and homogenous IBD model, Cetera offers financial professionals and institutions the latest solutions, support, and services to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.
Home to approximately 12,000 financial professionals and their teams, Cetera oversees more than $545 billion in assets under administration and $235 billion in assets under management, as of September 30, 2024. In a recent advisor satisfaction survey of nearly 35,000 reviews, Cetera's Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it's ranked 4.8 out of 5 stars.
Visit www.cetera.com, and follow Cetera on LinkedIn, YouTube, X, and Facebook.
"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Investment Advisers LLC, a registered investment adviser, and the following FINRA/SIPC members: Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. Located at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.
About Lighthouse Credit Union
Lighthouse Federal Credit Union (formally Northeast Credit Union) is a member-owned and not-for-profit organization whose mission is to enrich and nourish the lives of others including members, employees and communities. The credit union's services and banking tools help facilitate real structural change in communities and help members build healthy finances. Lighthouse Credit Union provides a cooperative banking experience that invites other to help with accessible and affordable housing, eliminating food insecurity, and supporting education initiatives. From its humble beginnings at the Portsmouth Naval Shipyard in 1936, the credit union has grown to approximately $2 billion in assets, over 165,000 members and 17 branches throughout New Hampshire and Maine.
Investments are: *Not FDIC/NCUSIF insured * May lose value * Not financial institution guaranteed * Not a deposit * Not insured by any federal government agency.
SOURCE Cetera Financial Group
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