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For Immediate Release: June 3, 2021
Contact: Sharon Simpson, (202) 223-3920 or ssimpson@callahan.com
Washington, D.C. – The Trust for Credit Unions (TCU), the largest mutual fund family created for and by credit unions, has opened a record number of new accounts in its two bond portfolios over the past year and recently exceeded 100 institutional investors. Total assets under management remain above $5 billion, an all-time record.
TCU was founded to provide competitive investment alternatives for credit unions. The TCU Ultra-Short Duration Portfolio, which targets a three-month duration, had a 30-day yield of 0.20%* as of June 2, 2021 while the TCU Short Duration Portfolio, which targets a two year duration, had a 30-day yield of 0.39%* over the same period. Both funds offer next-day liquidity, feature no minimum or maximum investment amounts, and have no tiers.
“TCU has built a strong history of performance and it’s exciting to see more credit unions take advantage of our offerings to put their excess liquidity to work,” says Jay Johnson, President of TCU. “We look forward to continuing to welcome new investors throughout the rest of 2021 and beyond.”
ALM First Financial Advisors serves as the funds’ investment advisor, providing ongoing economic updates and timely educational resources to benefit both current and potential investors.
“The TCU Ultra-Short Duration and Short Duration Portfolios have been important tools to help credit unions serve their members, especially as the industry has seen higher excess liquidity levels,” says Jason Haley, Chief Investment Officer for ALM First. “We’re proud to actively manage these portfolios and share our knowledge and market insights regularly for the benefit of TCU investors and the entire industry.”
TCU helps credit unions succeed by providing a professionally managed family of mutual funds — exclusive to credit unions — as well as the information and analysis they need to support investment decisions. Created by leading credit unions with oversight by a board of trustees, TCU’s mutual fund options are professionally managed and are based on the cooperative values of credit unions.
*The yields reflect the 30-day Effective Yield (net of fees/expenses). For questions, please call the TCU Group at 1-800-237-5678.
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