DALLAS — Credit unions invested nearly $1.4 billion in "special certificates" and "reverse inquiries" in 2007 with Southwest Corporate Federal Credit Union exceeding 2006′s numbers.

While dollar amounts of investments increased, the actual number of specially-structured term certificates offered to credit unions last year dropped slightly to 53, compared to the 63 offered in 2006, according to the corporate. However, the drop in special certificate offerings was more than offset by the growing interest in reverse inquiries, which rose from the 41 provided in 2006 to 62 in 2007, said Cynthia Shi, director of portfolio management for Southwest Corporate.

Because of higher yields early in the year, there was a "strong flow" of term investment dollars coming into Southwest Corporate for placement during the first half of 2007, Shi said. That strong first half contributed significantly toward the higher investment totals for 2007. But with the credit markets in flux during the second half of 2007, credit union investment activity generally moved away from long-term investments with many opting for shorter duration instruments, commonly referred to as "bullets."