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For Immediate Release: February 12, 2021
Contact: Sharon Simpson, (202) 223-3920 or ssimpson@callahan.com
Washington, D.C. – Assets under management in the Trust for Credit Unions (TCU), the oldest and largest mutual fund family created for and by credit unions, continue to set new records. The two TCU bond funds, the Ultra-Short Duration and Short Duration Portfolios had total combined assets of $3.61 billion as of February 11, 2021.
“We’ve already welcomed a record number of new credit union investors in the opening weeks of 2021 and look forward to serving more of the industry as we build on our 30-year history of performance,” said Jay Johnson, President of TCU. “TCU is here to provide credit unions with the institutional investments they need, whenever they need them.”
TCU was founded to provide actively managed, competitive investment alternatives for credit unions. As deposit levels have hit their own records industry-wide and earnings pressure has increased, more credit unions are turning to this leading industry investment solution. The TCU Short-Duration Portfolio, which targets a two-year duration, had a 30-day yield of 0.76%* as of February 11, 2021 while theTCU Ultra-Short Duration Portfolio, which targets a three month duration, had a 30-day yield of 0.32%* over the same period.
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.
“In our role as investment advisor, we share our knowledge and market insights regularly for the benefit of TCU investors and the entire industry,” says Jason Haley, Chief Investment Officer for ALM First. “For more than a quarter century we’ve managed short-duration fixed income portfolios for institutional investors, and the TCU Ultra-Short Duration and Short Duration Portfolios have been important tools to help credit unions serve their members.”
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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