Catalyst Corporate has partnered with the National Credit Union Foundation to provide an investment vehicle for the Foundations Community Investment Fund. The CIF is a shared proceed investment that both funds the Foundation's programs and provides income to state credit union foundations and the investing credit unions.
“Not long ago, the CIF was a significant funding source. But economic conditions over the last two to three years have yielded dwindling returns for the NCUF and state foundations,” said Kathy Garner, Catalyst Corporate CEO. “Catalyst was eager to re-visit the traditional CIF model, with the goal of creating a new option that benefits investors and helps sustain the national foundation. We believe we accomplished that goal.”
Catalyst said the new alliance allows member credit unions to choose products such as callable and bullet U.S. Government agency securities, as well as negotiable bank certificates of deposit. Members can specify the percentage of interest income to be shared with NCUF, as well as the fund designation.
NCUF also offers CIF investment partnerships with Corporate One and Alloya Corporate FCU in addition to options with MEMBERS Trust Company and National Cooperative Bank.