For Immediate Release: September 9, 2020
Contact: Sharon Simpson, (202) 223-3920 or ssimpson@callahan.com
Washington, D.C. – The Trust for Credit Unions (TCU), the largest family of institutional mutual funds created specifically for credit unions’ unique investment needs, is continuing to see an inflow of funds as credit unions re-evaluate their investment options and seek more competitive alternatives amid higher deposit levels and growing earnings pressure. The total number of active credit union investors has grown by 62% year-to-date, a significant increase.
Total assets under management in the TCU Portfolios now exceeds $2.5 billion, which represents a growth rate of 152% since December 31, 2019. This is a new record for the TCU’s two bond portfolios, which saw a previous high of $2.3B in March 2004. The TCU Ultra-Short Duration Portfolio, which targets a three month duration, had a 30-day yield of 0.46%* as of September 8, while the TCU Short-Duration Portfolio, which targets a two-year duration, had a 30-day yield of 1.03%* over the same period.