For the past 30 years the Trust for Credit Unions (TCU) has delivered investment innovation and diversification to credit unions. As the oldest and largest mutual fund family created by and for credit unions, TCU continues to focus on meeting the unique needs of our investor base.
In our ongoing efforts to enhance shareholder value, the Board of Trustees, along with Callahan Financial Services, Inc. and ALM First Financial Advisors, LLC, are pleased to announce that on June 23, 2018, we successfully converted TCU account services to a new provider.
U.S. Bancorp Fund Services, LLC and U.S. Bank, N.A., subsidiaries of U.S. Bancorp®, were selected to service all back-office operations for the TCU Portfolios in an effort to better serve investors. The services U.S. Bancorp Fund Services, LLC is now providing include fund & legal administration, fund accounting, transfer agent, and custodial services. Established in 1969, U.S. Bancorp Fund Services, LLC provides customer centric services to mutual funds, alternative investment products, and ETFs.
“When the TCU team was evaluating these changes our priority was providing enhanced services and greater efficiencies for our shareholders,” says Jay Johnson, President of TCU. “We are confident that this new structure will enhance value to all shareholders through better information flow and responsiveness to shareholder needs.”
ALM First Financial Advisors, LLC (ALM First) will continue to serve as TCU’s investment advisor along with the leadership of Callahan Credit Union Financial Services Limited Liability Partnership’s credit union partners as administrator, and Callahan Financial Services as distributor of the funds.
While many of the account services changes occurred “behind the scenes” and were seamless to TCU investors, investors will notice some minor differences. These include easier to read account statements, a new online system for 24-hour account access, and updated wire instructions. Investors should contact TCUgroup@callahan.com with any questions.
TCU helps credit unions succeed in serving their members 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 and with oversight by a board of trustees, TCU’s mutual fund options keep credit unions invested, are professionally managed, and are based on the cooperative values of credit unions. More information about the TCU portfolios may be found on our website, www.trustcu.com.