EasCorp Partners with Trust for Credit Unions to Expand Access to Critical Industry Investment Options
Washington, D.C. – EasCorp and the Trust for Credit Unions officially announced a new relationship today. The relationship will enable EasCorp to provide three TCU Investment Portfolios to its two hundred and seventy-five (275) member credit unions in order to expand investment options for EasCorp members and to create greater economies of scale and value for the TCU Portfolios.
The three TCU Portfolios offer a range of options including a Money Market Portfolio for overnight or short-term investment needs, an Ultra-Short Duration Portfolio designed to target a duration of nine months, and a Short Duration Portfolio designed to target a duration of approximately two years. All three Portfolios contain only obligations authorized under the Federal Credit Union Act.
CUFSLP is a partnership composed of thirty-six (36) leading credit unions with Callahan Financial Services, the fund’s distributor, serving as the general partner. The Trust for Credit Unions (TCU) has fulfilled a critical industry need since 1987, serving over 500 credit union investors and managing billions of dollars throughout its history.
“The TCU Portfolios fill a critical need our members have for safety, liquidity, and yield, said EasCorp President and Chief Executive Officer, Jane Melchionda. “What’s more, they complement the liquidity and investment products that EasCorp provides presently in the form of on- and off-balance sheet activities, furthering our goal for a convenient, one-stop shopping experience.”
“EasCorp is a well-respected organization that many credit unions rely upon for a wide-range of products and services. We’re looking forward to a strong partnership that will allow us to provide competitive investment options to even more credit unions,” said Jon Jeffreys, Executive Vice President of Callahan Credit Union Financial Services Limited Partnership (CUFSLP), the funds’ administrator.
EasCorp is a corporate credit union serving 275 credit unions throughout the United States from offices in Burlington and Woburn, Mass. EasCorp provides credit unions with a variety of deposit, loan and investment services; and ALM modeling and security safekeeping services. Through its CUSO, Vertifi Software, LLC, EasCorp provides remote deposit capture, branch capture, image cash letter, mobile banking application development, and statement rendering services to more than 200 financial institutions. For more information, please call (800) 428-1144, or visit EasCorp at www.eascorp.org.
About The Trust for Credit Unions
The Trust for Credit Unions (TCU) is a family of institutional mutual funds offered exclusively to credit unions. Callahan Financial Services is a wholly-owned subsidiary of Callahan & Associate and is the distributor of the TCU mutual funds. Goldman Sachs & Co is the advisor of the TCU mutual funds. To obtain a prospectus which contains detailed fund information including investment policies, risk considerations, charges and expenses, call Callahan Financial Services, Inc. at 800-CFS-5678. Please read the prospectus carefully before investing or sending money. Units of the Trust portfolios are not endorsed by, insured by, obligations of, or otherwise supported by the U.S. Government, the NCUSIF, the NCUA or any other governmental agency. An investment in the portfolios involves risk including possible loss of principal.