Mutual fund dealer Worldsource Financial Management Inc. announced today that it has reached an agreement in principle with Coast Capital Savings to provide fund dealer services to the credit union.

In addition, Worldsource Insurance Network Inc., a managing general agency (MGA) and sister company to Worldsource Financial, will provide life insurance services to Coast Capital.

Today’s partnership is conditional upon the signing of a definitive agreement, receiving the appropriate regulatory approvals, and to certain other conditions.

“We are excited about this opportunity and we look forward to a new relationship with Coast Capital that will support the growth of both organizations,” says Paul Brown, chairman and CEO of Worldsource Financial, and president, Worldsource Insurance.

Lloyd Craig, president and CEO of Coast Capital, says the alliance will benefit the credit union system as a whole.

“A key element of Coast Capital Savings’ expansion strategy is to accelerate the profitable growth of our investment services business and we are confident this will be achieved through our partnership with Worldsource.” Craig says.