WASHINGTON (2/15/11)--The Trust for Credit Unions’ (TCW) recently revamped open architecture offers more flexibility and paves the way for expanded investment options. The open architecture offers the ability to select from multiple providers for critical roles such as investment management, transfer agent, and compliance. The ability to negotiate better terms/fees with multiple providers, access to professional investment management resources, and strong board of trustee oversight are just a few of the benefits of the current business model, said the trust’s distributor. The Trust for Credit Unions—the only mutual fund family solely for credit unions--was created in 1987 by industry leaders who sought more investment options as liquidity swelled. The three funds that now make up the Trust for Credit Unions--Money Market Portfolio, Ultra-Short Duration Portfolio, and Short Duration Portfolio--ranging from overnight to about two years. During its 23 years, the trust has served over 500 credit union investors with total fund balances peaking at $4.1 billion. The TCU board of trustees, which meets quarterly, is composed of eight members from credit unions and outside professionals. The fund’s administrator, CUFSLP, is composed of 39 credit unions with Callahan Financial Services, the fund’s distributor, serving as the general partner.
CHANTILLY, Va. (2/15/11)--Online financial services provider Online Resources Corp. and CUsource LLC, a Montana-based credit union service organization, have signed a reseller agreement for Internet banking and bill payment services. The new agreement provides CUsource’s more than 20 credit unions access to Online Resources’ suite of personal financial management, mobile banking, expedited payments, consumer marketing and call center services. This year, 11 credit unions representing more than 120,000 members will convert to Online Resources’ platform. Members of CUsource’s cooperatives will have the opportunity to employ Online Resources’ recently enhanced Internet banking and bill payment application. Online Resources also offers member-specific marketing tools designed to increase awareness, boost online member service, and drive adoption and up-sell opportunities. Driven by consumer-usage pattern intelligence, the service incorporates contextual messaging throughout the interface, such as help links and advertisements that are timely and relevant to the member.