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Tuesday, December 12, 2017
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02:00 PM - 03:00 PM ET
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Callahan & Associates, Inc.
Callahan Leadership clients, please log in to register. All others, click here to learn more about the webinars available through Callahan's Leadership program.
Income at America’s credit unions form a kind of four-legged stool, with one of the legs a lot longer than the others.
Lending accounts for nearly two-thirds of the movement’s income, but this balance might soon be shifting. Credit unions can play it safe and make some serious bucks for the budget by engaging in some creative but low-risk investments.
Kane County Teachers Credit Union is insured through ASI, which recently won the right to access the Federal Home Loan Bank. The Elgin, IL, credit union now uses the FHLB’s liquidity and funding services for investment arbitrage. That includes fixed rate and put-able advance borrowing at a spread of roughly 20 to 23 basis points that currently is generating $10,000 to $13,000 a month.
KCT also is using the legal ability to pre-fund the costs of its benefits program by investing in life insurance companies’ investment products. Mike Lee, CEO of the $225.7 million cooperative, says that alone should generate approximately 2.90% return on his investment.
“We’re not looking for home runs,” Lee says. “We’re looking for singles and doubles. It’s swinging for the fence that gets credit unions in trouble.”
Join Callahan & Associates and Mike Lee for a discussion on how KCT boosts its bottom line via a diversified revenue stream.
This event is FREE for all CALLAHAN LEADERSHIP CLIENTS. Sign up through the registration link above (note: you must be logged into CreditUnions.com to see the link).
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Related Resource: How To Boost The Bottom Line While Really Trying
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