Surging Liquidity Pushes CU Trust Past $1B

Published February 25, 2008, 1:00 a.m. EST

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Updated August 27, 2020, 1:23 a.m. EDT

1 Min Read

WASHINGTON - The rapid build-up in credit union liquidity raised credit union investments in the Trust for Credit Unions Money Market Portfolio to $1.047 billion earlier this month, up $687 million from the previous year, according to Callahan Financial Services, a subsidiary of Callahan & Associates.

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“Credit unions are staying very liquid due to concerns with the credit crunch,” said Chip Filson, president of Callahan & Associates. “As credit unions look for opportunity in the current market, many investment managers are shortening their portfolios. Our Money Market fund has been the benefactor of the increased focus on short term investing.”

Celebrating its 20th anniversary, the Trust for Credit Unions mutual fund family was organized by credit unions to provide an option for diversifying their holdings of overnight and short-term funds from banks and the direct market.

The Trust for Credit Unions is the largest credit union-only family of mutual funds, according to Callahan’s. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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