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mutual fund investments with people working on charts and projections Source: Shutterstock.

A pool of institutional mutual funds for credit unions is setting records in assets as credit unions seek higher yielding investments for their flood of deposits.

The Trust for Credit Unions (TCU) based in Washington, D.C., reported Monday it is nearing $3 billion in assets under management from its two bond portfolios. Its TCU Short-Duration Portfolio, which targets a two-year duration, recently exceeded $1 billion in assets. It had a 30-day effective yield of 0.90% net of fees and expenses as of Nov. 27.

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Jim DuPlessis

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