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ALEXANDRIA, Va. – Federal credit unions have the authority to invest in a mutual fund as the underlying investment for a 457(f) plan, NCUA recently reminded. In an April 26 opinion letter, the regulator addressed the inquiry from Matadors Community Credit Union, which is a federally-insured, state-chartered credit union. NCUA used the context for FCUs for this particular FISCU. An FCU has statutory and regulatory authority to compensate its officers and employees and under this authority, investments made by an FCU to fund an employee benefit obligation are not subject to the investment limitations stated in the Federal Credit Union Act and NCUA regulations, the regulator said.

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