U.S. Central Credit Union made its first issuance of medium-term notes last week as part of an effort to get into the intermediate and long-term debt market.
Credit unions are entering the longer-term mortgage market in growing numbers, and U.S. Central wants to keep up, said chief financial officer Glen Carter.
Working through 42 corporate credit unions, the Overland Park, Kan.-based U.S. Central provides a number o services to credit unions, including loans and investment products. It has $25.2 billion of assets.
Mr. Carter said U.S. Central will be issuing the notes continually, in offerings of between $25 million and $50 million.