National Investment Fund for Credit Unions (NIFCU$)

Contact National Investment Fund for Credit Unions (NIFCU$)
2012 Q2 Quarterly Investment Outlook: Little Things Add Up (Article)

While geopolitical and other challenging headlines have continued to capture our attention, many of the significant economic threats enumerated in 2011, have since moderated or been extinguished. Meanwhile, just under the surface, HighMark’s five drivers of potentially exceptional growth are contributing more to economic activity than lackluster U.S. GDP growth suggests, illustrating that many Little Things Add Up over time.

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Overview

The National Investment Fund for Credit Unions (NIFCU$) is one of the industry's premier cash management tools for your credit union's excess overnight funds. A Preferred Partner since 1975, over 1,000 federal and state credit unions nationwide have taken advantage of NIFCU$ to help diversify and enhance yields on their overnight funds. Investments in NIFCU$ units are not insured or guaranteed by the FDIC, the government, or any other agency.

Products/Services

NIFCU$ is a collective investment fund organized for the exclusive use of credit unions. It invests in short-term money market instruments authorized by the National Credit Union Administration (NCUA) for federal credit unions. NIFCU$ is the only fund in its class with a Aaa-mf credit rating from Moody's Investors Service. The fund includes:

  • Servicing credit unions since 1975
  • Aaa-mf rated by Moody’s Investors Service since 1997
  • NAFCU Services Corporation Preferred Partner
  • NCUA approved investments
  • Access to professional portfolio management
  • Effective diversification tool
  • Competitive overnight rates
  • Unlimited daily transactions with daily rates posted online
  • Same day interest earned on actual investments made before 12:30 PT/3:30 EST
  • No minimum account balance

Union Bank®, N.A. (Union Bank), is the Investment Manager of the Fund. HighMark® Capital Management, Inc. (Sub-investment Adviser), a registered investment adviser and an affiliate of Union Bank, has been appointed as the Investment Adviser to manage the assets of the Fund. Union Bank is also the Fund's Trustee and Custodian.

Sponsorship of the Fund 

Union Bank®, N.A. and NAFCU Services Corporation are the sponsors of the NIFCU$ Fund.

Independent Public Accountants

Deloitte & Touche serves as the independent public accounting firm to the Fund.

Fund Expenses

The Fund pays a trust and investment management fee that is computed daily and paid monthly at a maximum annualized rate of 0.25 percent of the average daily net assets of the Fund. In accordance with the Deed of Trust, all reasonable expenses incurred by the Trustee in the administration or preservation of each trust and not reimbursed out of the NIFCU$ Funds shall be charged to the trust or trusts for whose benefit the expense was incurred. Please see the Annual Report for actual expenses charged to the Fund each year.

Download NIFCU$ Brochure

Download the National Investment Fund for Credit Unions (NIFCU$) brochure.

NIFCU$© is a collective investment fund designed to serve the liquidity needs of the credit union industry. Investments in NIFCU$ units are not deposits or obligations of and are not endorsed or guaranteed by Union Bank®, N.A. (Union Bank), or any of its affiliates. Union Bank is the Investment Manager, Trustee, and Custodian of NIFCU$. Investments are not bank guaranteed, not FDIC insured, and may lose value. Please read the NIFCU$ Deed of Trust and Plan of Common Trust Funds booklet, which contains plan documents describing the Fund in detail, before executing any document or investing. Past performance is not an indication of future results.

Educational Resources

  • Resource Type2012 Q2 Quarterly Investment Outlook: Little Things Add Up (Article)
    While geopolitical and other challenging headlines have continued to capture our attention, many of the significant economic threats enumerated in 2011, have since moderated or been extinguished. Meanwhile, just under the surface, HighMark’s five drivers of potentially exceptional growth are contributing more to economic activity than lackluster U.S. GDP growth suggests, illustrating that many Little Things Add Up over time.
  • Resource Type2012 Q1 NIFCU$ Market Commentary (Article)
    During the quarter, market participants began to give more weight to strengthening economic news, discounting the Fed’s stated commitment to hold short-term interest rates low into 2014.
  • Resource Type2012 Q1 Quarterly Investment Outlook: Are the Nightmares Behind Us? (Article)
    Investors have had to contend with many upsetting concerns over the last year, including geopolitical uncertainty, social unrest, natural disasters, monetary tightening, new regulations, and a U.S. government downgrade. The European Sovereign Debt Crisis was underway for over a year when the worrying Nightmares began compounding in March 2011. These Nightmares have undercut confidence and global growth expectations, which impeded equity returns and drove Treasury yields lower. Uncertainty fueled much higher volatility across equity, bond, currency, and commodity markets.
  • Resource Type2011 Q4 Market Commentary (Article)
    Although third quarter 2011 growth came in at just +1.5%, the flow of economic news in fourth quarter was surprisingly positive, with equity markets holding their own, and consumer confidence and spending rebounding sharply. Read more from NIFCU$ Fund Manager Hillary Elder in the 2011 Q4 Market Commentary.
  • Resource TypeMarket Impact from the Super Committee Failure (Article)
    A deal to reduce the federal budget deficit through any combination of cutting government spending and/or raising revenue could not be reached in the “super committee” by the November 23rd 2011 deadline. Initial market reaction to the impasse was negative, but transitory and the longer term concern centers on the reaction of rating agencies and the potential for further downgrade of United States debt by one or more agencies. Read what investment expert Hillary Elder has to say about the impact of the committee's failure and the threat of rating downgrades.
  • Resource TypeNIFCU$ Q3 2011 Market Commentary
    Shock waves, natural and man-made, rocked global economies in the first six months of 2011. Economic growth faced headwinds from severe storms, floods, earthquakes, higher oil prices and a manufacturing disruption of the global component supply chain from Japan. Most of those issues have now passed, however the European sovereign and banking sector debt crisis remains unresolved.
  • Resource TypeInvestment Insights: Standard & Poor's Downgrades U.S. Government: So What Now? (Article)
    Standard & Poor’s (S&P) has downgraded their U.S. Government long-term AAA debt rating to AA+ for the first time since granting it in 1917. While forewarned, it still seems to have taken investors by surprise. The consequences of S&P's U.S. Government downgrade will likely have a greater emotional impact on investor sentiment, exacerbated by the European chaos, than any longer term impact on the economy or fixed income liquidity. Read more from David Goerz, SVP - Chief Investment Officer for HighMark Capital Management, Inc. in this downloadable article.
  • Resource Type2011 Q3 Quarterly Investment Outlook: Our Demise is Greatly Exaggerated (Article)
    Are America’s best days in the past? We live in an age of tremendous innovation and opportunity that shows no signs of slowing, which has fundamentally lifted our living standards over the last century. However, there remains a nagging sense of anxiety about the future that has cast a long dark shadow over the U.S. economy. We think that with devotion to our nation’s free market principles, companies will be motivated to make innovation routine, and that Our Demise Is Greatly Exaggerated. Read more from David Goerz, SVP - Chief Investment Officer for HighMark Capital Management, Inc. in this downloadable article.
  • Resource TypeRaising the U.S. Debt Ceiling and Fiscal Budget Deficit Debate – Summary Thoughts (Article)
    A decision to raise the debt limit, which would allow the Treasury to finance ongoing operations of the federal government, has become linked to decisions about longer-term budget issues, such as reducing government spending commitments and changes to tax policy. Read full investment insights from the National Investment Fund for Credit Unions (NIFCU$).
  • Resource Type2011 Q2 NIFCU$ Market Commentary (Article)
    It appears the U.S. economic recovery hit a soft patch this past quarter. First quarter 2011 GDP declined and there remain concerns about rising inflationary pressures, although not in the area of wages. However, gasoline prices have softened a bit–a small bit of good news for consumers as housing is still struggling. Read more from NIFCU$ Fund Manager, Hillary Elder in this downloadable report.
  • Resource TypeEconomic Review: What your credit union should do to prepare for changes ahead (Podcast)
    Recent Federal Reserve Board members’ comments, plus improving economic readings, may mean this period of ultra-low interest rates is nearing an end. In this podcast we discuss the current market and economy, what may be coming down the road, and most importantly, what credit unions can be doing to prepare for these probable changes.
  • Resource Type2011 Q1 NIFCU$ Market Commentary (Article)
    Recent Federal Reserve Board member comments, plus improving economic readings, may mean this period of ultra-low interest rates is nearing an end. Higher oil prices have put a damper on consumer sentiment and should affect spending in the second quarter of 2011. Read more from NIFCU$ Fund Manager, Hillary Elder in this downloadable report.
  • Resource Type2010 Q4 NIFCU$ Market Commentary (Article)
    The upward revision to third quarter growth (+2.6%) and the surprisingly strong trend in consumer spending in the fourth quarter have many economists forecasting stronger economic growth in 2011. Read more from NIFCU$ Fund Manager, Hillary Elder in this downloadable report.
  • Resource TypeEconomic Outlook: Post Mid-term Elections and Federal Reserve Meeting (Podcast)
    What will the mid-term elections and the most recent Federal Reserve meeting mean for the economy? In this podcast, we meet with Hillary Elder, Vice President and Director for Money Market Strategies with HighMark Capital Management to discuss the transition of political power and its impact on trends in tax policy and regulation.
  • Resource TypeQuarterly Investment Outlook - Q3 2010 (Article)
    Strategists and economists can't seem to agree on what the future holds, leaving investors disillusioned about prospects for "normal" returns. Of course, economic growth comparisons to a year ago will grow increasingly difficult to sustain mathematically. However, these are hardly the seeds of a double-dip recession, and we think there are reasons to be hopeful that the second half may be even stronger than the first half of 2010.
  • Resource TypeLooking Behind the Global Recovery: Current Economic and Capital Market Outlook (Podcast)
    As we start to look towards a recovering global economy, it may be tough to see where we as credit unions stand in the - hopefully - recovering financial arena. With market volatility on the rise the question is whether we are in the "new normal", or whether the "new normal" even exists. In this podcast we get a sneak peek of a presentation for NAFCU's 2010 CEOs Conference on current economic and capital markets.
  • Resource Type2010 Economic Trends & Outlook (Article)
    With 2009 almost behind us, The Federal Credit Union Magazine turned to Hillary Elder, vice president and portfolio manager of the National Investment Fund for Credit Unions (NIFCU$), for her outlook on several key indicators as we head into 2010.
  • Resource TypeExploring Hope for the Economy (Recorded Webinar)
    We have assumed the worst for our economy, which did not come to pass. Is it now time to hope for the best? Watch a recorded webinar, Exploring Hope for the Economy, taped June 2009, to learn about developments in the economy and what they may mean for the future.
  • Resource Type1Q 2009 Economic Outlook (Podcast)
    Each week seems to bring a new government program to address some other part of the financial crisis. Just keeping track of the acronyms is a full-time job! Helping us to better understand what has been going on in the economy and where it is heading is Hillary Elder, Director for Taxable Money Market Strategies with HighMark Capital Management and NIFCU$, the National Investment Fund for Credit Unions.
  • Resource Type2008 3Q Economic Outlook, with Hillary Elder (Podcast)
    The 3rd quarter of 2008 has been, to say the least, an interesting time. Massive government intervention in capital markets and the private sector in such a short period of time marks a watershed for managing the economy, and carries implications for many years to come. This podcast features an interview with Ms.Hillary Elder, VP and Director of Money Market Strategies with NIFCU$.
  • Resource Type2008 2Q Economic Outlook, with Hillary Elder (Podcast)

    We're in an up and down period right now in the economy - some sectors are up, some are down, and the Fed has taken interest rates down and now might be taking them up. And looming as threats on the horizon are the prospect of inflation, recession, and maybe even stagflation.

  • Resource Type2008 1Q Economic Outlook - Is that a light at the end of the tunnel? (Podcast)
    The economy has undergone significant change in the fourth quarter of 2007 and the first quarter of 2008, as evidenced by perturbations in the stock market, the rapid response of the Federal Reserve in rate reductions, capital availability and market intervention. This podcast features an interview with an expert in the field who will take a look back at the first quarter of 2008 and try to understand what it all means.

News

Contact National Investment Fund for Credit Unions (NIFCU$)

Phone | 800-634-6521
http://www.nifcus.com