Jay Johnson, executive vice president of Callahan & Associates, has been elected the new president of TRUST, a family of institutional mutual funds offered exclusively to credit unions.

Johnson succeeds Chip Filson, chairman of Callahan in Washington.

Jon Jeffreys, president of Credit Union Student Choice and vice president of Callahan Financial Services, was elected the new assistant treasurer of TRUST.

Johnson will continue to serve as treasurer, according to Callahan.

Callahan Financial Services is a wholly-owned subsidiary of Callahan & Associates and is the distributor of the TRUST mutual funds. Goldman Sachs Asset Management L.P. is the investment adviser of the funds.

Credit unions have invested nearly $1.5 billion in TRUST's three portfolios, according to Callahan.

“I am extremely proud of the TRUST's accomplishments over the last 25 years and look forward to watching the new leadership continue to expand access to this important credit union investment option,” said Filson, former president of TRUST.

The new officers were elected at TRUST's board of trustees' recent annual meeting.

Instant Insights /

Callahan EVP Jay Johnson Takes Helm of TRUST Mutual Funds

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