PLANO, Texas -- The $13 billion Southwest Corporate is seeing credit unions put their excess deposits to work in the corporate's specially-structured share certificates.

In the first six months of 2007, credit unions have invested more than $600 million in specially-structured share certificates at Southwest, dwarfing the $321 million during the same period in 2006.

Southwest Corporate has created 28 specially-structured certificates, about one a week, in the first half of the year. As popular as the structured share certificates are, "bullet" certificates are attracting even more interest. Credit unions have invested $2.9 billion in the bullet

certificates.

"Liquidity among credit unions has increased significantly in the first and second quarters of 2007," said Zane Wilson, director of Southwest Corporate Investment Services. "Share growth has outpaced loan growth more than usual in the first half--double the rate it was in the beginning of 2006. Additionally we have not seen as much of a reduction as usual in overnight cash the past few months stemming from the outflow of cash for taxes and regular summer spending."

Wilson also noted that loan growth within credit unions "is not meeting forecasts." He added: "Consumers were not spending as much in the first half, and not borrowing as much. When credit unions have a pause in loans, the next step is investing the money effectively to meet their ROA goals."