TRUST Elects New Officers for Management of Credit-Union Only Investment Options

WASHINGTON, D.C. – TRUST, the oldest and largest mutual fund created for and by credit unions, elected new officers, including a new President, during its recent annual meeting.

Jay Johnson, Executive Vice President of Callahan & Associates and Treasurer of TRUST, succeeds Chip Filson as President of TRUST.  Jon Jeffreys, President of Credit Union Student Choice and Vice President of Callahan Financial Services, was elected the new Assistant Treasurer of TRUST. Johnson will continue to serve as Treasurer.

“I am extremely proud of the TRUST’s accomplishments over the last 25 years and look forward to watching the new leadership continue to expand access to this important credit union investment option.  Mr. Johnson’s election highlights the Trustees’ sound succession planning process,” said Chip Filson, former President of TRUST.

TRUST 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 some of the leading credit unions with oversight by a board of trustees, TRUST’s mutual fund options keep credit unions always invested, are professionally managed, and are based on the cooperative values of credit unions. Today, credit unions have invested nearly $1.5 billion in TRUST’s three portfolios.

“Mr. Johnson and Mr. Jeffreys have been playing key roles within Callahan Financial Services, the distributor of TRUST, for a number of years. The experience they have gained working directly with credit union executives to develop innovative strategies and new business models will benefit TRUST.  My fellow Trustees and I have great confidence in the leadership and organizations supporting TRUST,” said Jim Barr, Chairman of the Board for TRUST. Other Trustees include: Rudy Hanley, Jim Regan, Stan Hollen, Gene O’Rourke, Gary Oakland, and Bucky Sebastian.

Jay Johnson is continuously sought after for his credit union industry knowledge and financial insights. As a well-known analyst in the industry he’s regularly traveling to provide strategic planning and consulting expertise to credit unions and credit union partners across the country. Mr. Johnson has over 20 years of financial industry experience and leads Callahan’s Leadership Program. He is also a CFA Charter holder, holds FINRA licenses 7, 24, 27, and 63 and is a board member of the National Association of Credit Union Service Organizations (NACUSO).

Jon Jeffreys is Vice President of Callahan Financial Services and President of Credit Union Student Choice, a CUSO created to leverage the cooperative business model within the private student lending market. Student Choice received the NACUSO Collaboration and Innovation award in their first year of offering the product. Mr. Jeffreys has over 11 years of experience within the credit union industry. In addition to his official roles at Student Choice and Callahan’s, he also serves as a board member for MyCUMortgage and was inducted into the CU Times Trailblazers in 2011.

In addition to the three mutual fund products the TRUST offers, credit union professionals can also take advantage of a wide range of educational investment information and resources, including daily market commentaries. For more information, visit or contact TRUST at 800-CFS-5678.

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 & Associates and is the distributor of the TCU mutual funds. Goldman Sachs Asset Management. L.P. is the investment adviser of the TCU mutual funds. To obtain a prospectus that 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.

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