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Fed Cut Signals CU 'Defense' on Maturities

DULUTH, Ga. -- The Federal Reserve Board's dramatic "and aggressive" 75 basis point rate cut today signals for credit unions a continued defensive strategy to further extend investment maturities 12 to 24 months amidst a pursuit of greater yield protection, according to the top investment officer for the $1.8 billion...

By Jim Rubenstein | Updated on January 22, 2008

DULUTH, Ga. — The Federal Reserve Board’s dramatic “and aggressive” 75 basis point rate cut today signals for credit unions a continued defensive strategy to further extend investment maturities 12 to 24 months amidst a pursuit of greater yield protection, according to the top investment officer for the $1.8 billion Georgia Central Credit Union.

“The Fed mentality has shifted away from inflation to an all out assault on preventing a recession and that means rates will continue to fall in the months ahead,” forecast Cory Johnston, chief investment officer for the Georgia Corporate.

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