CUNA Brokerage Services, Inc.

Permitted to Resign

The RR resigned while under temporary suspension and internal investigation. The firm's internal investigation revealed blank signed documents, the use of white out and undelivered annuity contracts. The firm was prepared to terminate the RR's registration on the basis of it's findings, but he resigned first. The firm chose to accept/permit his resignation.

I resigned from CUNA Brokerage Services and Barksdale Federal Credit Union on August 07, ?019, b*cause of the toxic environment that had taken over our department during the past year, not because of compliance. ln fact, I did not discover these disclosures until I received my U5 almost one month later. I worked with Barksdale Federal Credit Union for 4 years, the first 2 years providing only insurance products through an lnsurance Brokerage Firm in Baton Rouge, Louisiana. Barksdale FCU had this selling agreement in place prior to me coming on board. In July of 2017, we changed from the lnsurance Brokerage Firm to CUNA Brokerage Service so we could provide investments products, as well as insurance, to our Barksdale Federal Credit Union Members. After being appointed with CUNA, I recommended a person to be our Coordinator, to handle our appointment scheduling, referral training etc. (see attached Cosrdinator sales Tasks checklist). She was a Credit Union employee. Soon after her hiring, I spoke on her behalf to get her a raise. ln 2018, we became a top producing program for CUNA. tn late 201"8, I recruited another Advisor to come on board. shortly after that, the coordinator's attitude changed and everything began to unravel. The coordinator turned saboteur and become very difficult for myself and the other advisor to work with. ln 2019, the coordinator almost completely stopped sending referrals and doing the other tasks that her job required. ln addition, the business I booked through my connections, she took credit far and falsified reports to Barksdale Federal Credit Union. I reached out to CUNA and Barksdale FCU for help numerous times regarding the toxic work environment, unfortunately to no avail. During my 2 years of developing the investment Program with CUNA and Barkdale FCU, we helped a plethora of clients and their families and experienced no problems. The toxicity in the work setting became too much of a burden by affecting the Team as a whole. The advisor I recruited resigned soon after I did, even though she inherited my book of business of more than $25 million in accounts and over $150,000 GDC in pending business. Now there are no advisors at Barksdale FCU, leaving over 300+ clients in the dark with no one to talk to concerning their accounts. To my recollection, there was no indication of any formal investigation at the time CIf my resignation. My resignation was acknowledged by CUNA s district sales manager and Barksdale FCU's senior management on August 7, 2019, I had made my decision in January sf 2019 to resign but was made to believe CUNA and BFCU would work on the identified work place toxicity problem, that not only affected the synergy and productivity of our Team, but mental health as well. It is unfortunate this matter with Compliance occurred at the same time as my resignation, but I made my decision to resign for my Family and the Clients l've served for over 20 years. Due to my professional and business ethics, I chose to move on from Barksdale FCU and CBSI. There are many Credit Union Members, Managers, and other Staff that I worked with for the past 4 years the will attest to my Professionalism, lntegrity, and Ethics. I gave my all to this program.