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Article: Mutual funds attract attention. (includes related article)
- Article from:
- Credit Union Executive
- Article date:
- May 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Credit Union National Association, Inc. (CUNA). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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No federal credit union employee may offer investment advice. But staff should thoroughly know products and member protection requirements.
With interest rates at historic lows, mutual funds have become a popular form of investment. Credit union members and bank customers alike have turned to the debt and equity markets to make up for lost yields and lower income associated with traditional savings vehicles. Many have foregone savings accounts and certificates of deposit (CDs) to take a first-time step into the investment marketplace.
Most are doing this through mutual funds, as evidenced by the billions of dollars that poured into funds in 1993. Not only are ...