Search
 

Local Government FCU Sets Aside $50 Million for Municipal Bonds

RALEIGH, N.C. -- Starting immediately, Local Government Federal Credit Union said it is in the market to purchase municipal bonds from North Carolina cities, towns and counties and has earmarked $50 million to make it happen.

By Michelle A. Samaad | Updated on November 11, 2008

RALEIGH, N.C. — Starting immediately, Local Government Federal Credit Union said it is in the market to purchase municipal bonds from North Carolina cities, towns and counties and has earmarked $50 million to make it happen.

The $823 million credit union said it seeks to accomplish two purposes: invest in “ultra-sound” instruments that will complement its balance sheet and encourage other institutional investors to return to North Carolina municipal bonds. Sold by cities, towns, counties and other governmental units as a way to raise money for public projects, municipal bonds also fund schools, courthouses, water and sewer infrastructure and roads.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.