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The Tricorp "Difference"

Tricorp is a corporate credit union and like all other credit unions it is a cooperative financial institution, owned and controlled by the people who use its services. As a corporate credit union we serve credit unions themselves. We are, “A Credit Union’s Credit Union.”

So what’s the “difference” between Tricorp and other corporate credit unions?

Core Competencies are the difference. Tricorp believes in the core competencies for which the Corporate Network was created, a safe, cost effective and convenient place for members to have access for all their liquidity and settlement needs. A resource for the investment of excess funds, a place to borrow funds when necessary, and access to the Fed System are all vital pieces for a credit union’s success. We have stayed the course in providing the best of these benefits to all our members.

Two strategic keys to protecting our core competencies are utilizing the Corporate Credit Union Network and the choice of strong business partners to provide products and services at a price that is very competitive to alternate sources.  Tricorp pays strict attention to controlling costs which has resulted in a low overhead/high efficiency ratio. This allows us to pay very competitive rates on all our investment products. We provide multiple types of loans, including unsecured lines of credit, rare in the corporate world, and have a fee schedule that is moderate and fair for all members. The value of higher income, moderate fees and quality service all combine to provide our members with the best benefits of ownership possible.

As a Corporate Credit union in the cooperative financial world we give back to our members. We don’t dilute members’ benefits by creating services or products outside our original purpose and pay for them with lower rates and higher fees. We serve our members well by providing the very products, services and business partners they need to compete in a very competitive financial arena. Higher rates, lower fees, and cost effective loans are what our members need and we are proud to provide them.

 

Market Commentary
07/28/2010
Improving earnings are moving stocks higher, and the euro and copper are stronger on better confidence in Europe’s economy. Initial jobless claims were very close to estimates and Exxon Mobil rose the most since 2003.

Since peaking in early June, not long after the height of the European banking crisis, the dollar continues its slide. The dollar is now down nearly 8% from its peak just 6 weeks ago. A weaker dollar is positive for exports, perhaps being a catalyst for an economy looking for anything to provide growth.

Commodities are also up more than 8% since the same early June timeframe. Considering the safe haven of gold is down more than 6%, the move has been concentrated in the industrial area. For example, copper is up nearly 19% from the June lows. There is an interesting dichotomy when you compare the commodity complex against Treasuries; lower Treasury yields in the same horizon would seem to be contrary to the story being told by commodities.

The architects of the Financial Reform bill, Chris Dodd and Barney Frank, are planning hearings to discuss the status of global bank-capital standards in September. Basel III capital standards may force banks to increase capital levels, as much as double in some cases.

Treasury yields at 10:45am EST are as follows: 2-year note 0.60%; 3-year note 0.90%; 5-year note 1.69%, 10-year note 3.01%, and the 30-year bond 4.12%.

Dave Filby, CFA
 




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