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

In the first six months of 2007, credit unions have investedmore than $600 million in specially-structured share certificatesat Southwest, dwarfing the $321 million during the same period in2006.

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

certificates.

"Liquidity among credit unions has increased significantly inthe first and second quarters of 2007," said Zane Wilson, directorof Southwest Corporate Investment Services. "Share growth hasoutpaced loan growth more than usual in the first half--double therate it was in the beginning of 2006. Additionally we have not seenas much of a reduction as usual in overnight cash the past fewmonths stemming from the outflow of cash for taxes and regularsummer spending."

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