MADISON, Wis. — Members may be assured to know that by law, their trust assets are maintained separately from the assets of the institutions that manage them.
"Consequently, while trust assets are subject to market fluctuations, members' trust assets are insulated from institutional ups and downs and are safe from corporate falls," said Neil Archibald, corporate counsel and chief compliance officer at MEMBERS Trust Co.
Credit unions are in an opportune place to provide members with principled management built around diversification, Archibald said. As a fiduciary, the philosophy of individualized, monitored management designed for long-time horizons has aided in helping to insulate clients from the harsh effects of the current market, he added.
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"Everyday yields more sobering news about the economy and while these events signal a general slowdown for all financial services firms across the board, the current news underscores the absolute need for stable institutions in the eye of the storm," Archibald said. "And, I am proud to say that many credit unions qualify as standard bearers of market stability and prudence and stand to serve communities in transition seeking a new home. Consequently, even in a down market, there is opportunity for growth in the credit union sector."
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