Corporate America Credit Union Announces New Mutual Fund
Corporate America Credit Union announced Tuesday the launch of the Corporate America CU Short Duration Fund, an investment vehicle primarily aimed at natural person credit unions and created by Corporate Financial Solutions, a CUSO wholly owned by Corporate America.
“We wanted to create a fund for credit unions that will offer comparatively low overhead,” said Thomas Bonds, CEO of Corporate Financial Solutions. Bonds also is CEO of Corporate America in Irondale, Ala.
He added that he believed many credit unions are looking for credit union-created and -managed investment solutions. All investments, Bonds said, will be legally permitted for credit unions.
“We have been working on this for seven months. We are very optimistic about adoption,” said Bonds, who will also serve as the fund’s portfolio manager.
Minimum initial investment according to a press release is $50,000.