What RIA's Can Learn From How Credit Unions Democratize Financial Wellness

Episode 043: Credit unions stand as pillars of financial stability, operating on the fundamental principle of "people helping people." They champion financial inclusion, creating a strong sense of community and shared success. Credit unions understand that financial wellness isn't reserved for the wealthy. Copper Financial echoes this philosophy by offering a welcoming environment with financial products and services tailored to individual needs, regardless of whether a member is just starting their investment journey with a few hundred dollars or has a well-established portfolio. They act as an entry point for members to begin their investing journey, empowering them to take control of their financial future.

In this episode, Kyle talks with Justin Steitz, President at Copper Financial. In his role, he leads sales, investment operations, compliance, and audits for the CommunityAmerica advisor channel and the broker-dealer business unit. Justin is dedicated to the credit union mantra of "people helping people" and focuses on giving back to the community. With a strong background in compliance, he is well-versed in the highly regulated wealth management industry. Before joining the Copper Financial team, Justin served as Chief Compliance Officer for Ausdal Financial Partners, Inc., where he led the effort to build an in-house broker-dealer.

Justin talks with Kyle about the unique challenges and opportunities of serving the credit union space. He highlights the importance of philanthropy and community in the credit union industry and how Copper Financial is dedicated to helping credit union members invest and improve their financial well-being.

Key Takeaways

• Copper Financial provides investment programs for credit unions and is driven by the credit union mantra of "people helping people."

• The credit union industry is community-focused and emphasizes giving back to members and the community through philanthropy and financial literacy programs.

• Technology, including robo-advisors and self-directed trading, is driving the evolution of credit union wealth management.

• Credit unions have historically been slower to adopt digital technologies due to resource constraints. There is a growing need to compete with fintech companies and provide members with digital investment options.

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Kyle Van Pelt