Union Bank of San Francisco is negotiating a deal to make its proprietary mutual funds available to 32 million credit union customers.

The $12.6 billion-asset bank is in discussions with the National Association of Federal Credit Unions, an Arlington, Va.-based trade group, said Greg Knopf, a vice president. Union Bank, a unit of the Bank of Tokyo, manages the Stepstone Funds, with 13 portfolios and $1.5 billion of assets.

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