PLANO, Texas — While markets plunged and investors panicked following news that JPMorgan Chase would buy a collapsed Bear Stearns, the impact could create more opportunities for credit unions.
The deal could help credit unions secure the value in their current agency-issued, mortgage-backed securities," said Brian Turner, manager of advisory services at Southwest Corporate Credit Union. Opportunities to invest in "well-structured" products could also arise during a time when term investment yields have fallen 250 basis points since last July.
Fortunately, credit unions have not been felt the aftershocks of the subprime crisis, Turner said.
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