BANNOCKBURN, Ill.–Great Lakes Credit Union (GLCU) said its members can now open an investment account with as little as $200, and “typically in minutes,” directly through its online and mobile banking platforms following the launch of a new offering.
Great Lakes CUhas launched EasyVest, an automated investment management tool through which it said members can build investment portfolios with low-dollar amounts, and benefit from data-driven guidance provided by the tool’s robo-advisor.
“By offering EasyVest, GLCU is pleased to have an option that ensures investing is both more affordable and accessible for our members,” said President and CEO Steve Bugg. “This creates an opportunity for those members interested in growing their assets through investments, but who might not otherwise be able to participate in the wealth management program we offer today, due to the size initially of their investment’s assets.
Robo-Advisor Provides Guidance
“Through this launch, GLCU will empower members who are new to investing with added support in making the best investment decisions for their goals,” Bugg continued. “EasyVest’s robo-advisor will serve as members’ automated personal investment guru, reviewing their risk appetite and objectives to suggest the right portfolio for them.”
According to Bugg, once members build up their portfolio, they will have the ability to meet with one of GLCU’s financial wealth management advisors.
The credit union said the new solution provides an array of low-cost, broad index Exchange-Traded Funds (ETF) portfolios with a recommendation of which tailored investment plan best fits their criteria. Members need just $200 in at least one GLCU share or checking account to set up their EasyVest investment account, according to GLCU.
Automatic Transfers
“As members grow their portfolio, they can set up automatic transfers between accounts, view balances, adjust the time horizon or investment objectives, and more,” the $1-billion Great Lakes CU said. “The tool continuously analyzes live market data and automatically re-balances members’ portfolio in response to market changes, so that that the investment journey at GLCU remains simple, smart, and seamless.”
GLCU has more than 80,000 members.
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