WARRENVILLE, Ill.–Balance Sheet Solutions, a CUSO of Members United FCU, said it is expanding its “SimpliCD” program beyond credit unions to allow investments by institutional members of credit unions.
SimpliCD, which was originally introduced by Corporate One FCU in Columbus, Ohio, enables credit unions to invest substantial funds in federally insured certificates of deposit offered by banks.
The first non-credit union to take advantage of Balance Sheet Solutions SimpliCD product is the United Methodist Church, which is investing through West Ohio United Methodist Credit Union in Cincinnati.
The CUSO said it is also working with other Methodist churches across the country. “Rather than seeing funds permanently limited at the insurance limit, the credit union can now facilitate another investment option for their member churches through our Institutional SimpliCD program,” explained Tom Moore, Balance Sheet Solutions’ president.
