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Reverse inquiries double says Southwest Corporate
PLANO, Texas (1/18/08)--Credit unions’ interest in customizable certificates--also known as reverse inquiries--rose to 62 requests in 2007 from 41 in 2006 and accounted for nearly double the dollar amount invested, according to Southwest Corporate FCU. The Plano, Texas-based corporate regularly creates structured investments and advertises them through e-mail and the Internet (eFacts Jan. 15). Because not all structured certificates fit exactly into credit unions’ needs, a customizable reverse inquiry can be an attractive offer, said Cynthia Shi, Southwest Corporate director of portfolio management. Credit unions with as little as $3 million to invest can take their inquiry to Southwest Corporate. It will structure their investments to their needs, Shi said, noting that most agencies require a $25 million minimum to invest. For more information, use the link.
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