Cues Podcast

The National Credit Union Administration allows credit unions to make certain “otherwise impermissible,” potentially higher-yielding investments that carry additional risk when credit unions set up certain kinds of programs, including the following:total benefits pre-funding—which helps credit unions offset the rising cost of staff benefits;charitable donation accounts—which require that 51% of the earnings on an investment of up to 5% of the CU’s net worth go to 501(c)3 charities; and 457(f) plans—which are retirement programs than can help CUs recruit, incent and retain key employees. “When we build those plans, open those … accounts, we need funding vehicles,” says Bruce Bauer, executive benefits specialist with CUESolutions platinum provider CUNA Mutual Group, Madison, Wisconsin, in the early part of this show. “One of the funding vehicles we use is City National Rochdale and their managed portfolios.” The company has become “a very strong partner for us. I believe we have over $1.2 billion with them righ