SAN DIEGO CUSO Financial Services said this afternoon it is partnering with TRUST, to offer the credit union mutual fund family managed by Callahan Financial Services to its credit union customers.
TRUST manages a group of three mutual funds specifically for credit unions that only include investments permitted by NCUA. The three funds, which were known until recently as the Trust for Credit Unions, claim $1.5 billion of credit union money under management.
All three of TRUST’s portfolios will be co-distributed by CUSO Financial to its 150 credit union customers and are designed to fill credit unions’ specific needs for target duration investments. The Money Market, Ultra-Short Duration and Short Duration Portfolios invest only in instruments permissible for federal credit unions to purchase as defined by the NCUA.
“We are committed to providing quality institutional investment options that suit credit unions’ unique needs,” said Matt Johnson, director of institutional fixed income sales, CUSO Financial Services, LP. “Our partnership with TRUST comes at the same time we have enhanced our own trading program, Institutional Portfolio Solutions, that offers commission concession to clients, so credit unions now have more product choices than ever before.”
