Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VERNON HILLS, Ill. — Nearly 10 years ago, Baxter Credit Union’s investment program had its limits, offering members very few products like annuities and certain types of mutual funds.

When J.R. Ridge, vice president of wealth management, came to the $1.2 billion credit union in 2004, the new staffer immediately began looking at ways to expand investment offerings. That expansion included a re-launch, which would bring in a managed account component. Managed accounts allow investors to customize their pick of securities from a selection recommended by a portfolio manager. The accounts typically require a minimum $100,000 investment, but some credit unions have linked up with firms that have dropped that requirement down as low as $25,000.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.