Entering its 23rd consecutive year together, the Trust for Credit Unions mutual fund family recently renewed its long-time partnership with Goldman Sachs Asset Management.
Callahan Financial Services, a wholly-owned subsidiary of Callahan and Associates, is the distributor of the TCU mutual funds, a group of institutional mutual funds offered exclusively to credit unions. In 1987, TCU's founding year, there were more than 16,300 credit unions managing $71.2 billion in investments, according to Callahan Financial Services. Today there are 7,700 credit unions managing $282 billion investments.
The TCU and Goldman Sachs alliance was renewed at the mutual fund group's annual conference in New York. Goldman Sachs has served as the funds' only investment advisor since its inception.
During its 23 years, the TCU said it has served over 500 credit union investors with total fund balances ranging from a peak of $4.1 billion to a just over $1 billion.