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Pact provides CIF option for N.J. CUs
HIGHTSTOWN, N.J. (8/22/11)--An alliance among Corporate One FCU, the New Jersey Credit Union Foundation (NJCUF) and the National Credit Union Foundation (NCUF) will provide New Jersey credit unions with another avenue for investing in the Community Investment Fund (CIF). The NJCUF is the charitable foundation of the New Jersey Credit Union League (NJCUL). The Community Investment Fund support helps the New Jersey Credit Union Foundation provide programs such as Financial Reality Fairs and BEST Internship Program. The CIF is a way for credit unions to support the state credit union initiatives and the NCUF’s national program’s and grants. The new Corporate One CIF option offers credit unions the ability to choose products such as callable and bullet U.S. Government agency securities and negotiable certificates of deposits. No capital is required from the credit union and Corporate One membership is not required to invest. Corporate One can also help credit unions that want to ensure a fixed amount is returned to the foundations choose products to fit their asset/liability strategy.
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