TRUST re-elects Chair, Elects New Vice Chair to Board of Trustees
Washington, DC (January 30, 2014) – TRUST, the oldest and largest mutual fund family created for and by credit unions, re-elected Jim Barr as Chair and elected Jim Regan as Vice Chair at their January Trustee meeting.
Jim Barr has been a part of the credit union community since he was selected as NAFCU’s first CEO in 1971. He subsequently became head of CUNA’s Office of Governmental Affairs in Washington D.C. Barr has been a trustee since 1989.
Jim Regan has been an active participant in the Callahan Credit Union Financial Services Limited Partnership (CUFSLP), the administrator of TRUST, for more than a decade. Regan has been a part of the credit union community since 1992 and is currently president and chief executive officer of Digital Federal Credit Union (DCU). He has served on the TRUST board since 2013.
In response to his recent election, Regan says “For more than 25 years, TRUST has been providing credit union specific investment options. I believe the industry needs to continue to develop investment vehicles that fit credit unions’ unique needs, and TRUST provides a great platform for doing just that.”
The Trustees are a vital component of TRUST’s organizational structure in their role as fiduciaries for investors. They oversee the performance of all the service providers and insure that compliance and risk management practices are always up to date.
Trustees are elected by the shareholders. The combination of credit union experience and independence reflects both the cooperative design and SEC regulations for Trustee selection.
The six other trustees currently serving are:
Rudy Hanley: President and Chief Executive Officer, SchoolsFirst Credit Union
Stan Hollen: President and Chief Executive Officer, Co-Op Financial Services
Gene O’ Rourke: Managing Director, O’Rourke & Associates
Gary Oakland: Former President and Chief Executive Officer, BECU
Bucky Sebastian: Former President and Chief Executive Officer, GTE FCU and Executive Director, National Credit Union Foundation
Bob Coen: Professor Emeritus of Economics, Northwestern University
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 $1.3 billion in TRUST’s three portfolios.
More information about TRUST’s three portfolios can also be found at http://www.trustcu.com/.
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.