DALLAS – Southwest Corporate joins WesCorp in using derivatives to help credit unions with interest rate risk. Its wholly-owned subsidiary, Southwest Corporate Investment Services, received NCUA approval for a derivatives pilot program for credit unions. Southwest Corporate has been utilizing derivatives for its own balance sheet since 1992, but this will be the first time it is offering derivative services to credit unions. Southwest Corporate Chief Investment Officer Bruce Fox said Southwest recognizes that more credit unions are involved in real estate lending and holding long-term fixed assets that can pose interest rate risk. Southwest will provide education and training, risk assessment and advice to credit unions accepted into the program, Fox said. "The program will help credit union managers and directors understand financial derivatives and their application in managing balance sheet risk," he added.