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
07/02/2007
Despite recent signs of stabilization in the labor market, a Labor Department report today indicated the road to recovery won’t be easy.
Non-farm payrolls fell a larger-than-expected 467,000 in June, reversing a trend that had seen job losses get smaller for four months in a row. Job losses were broad-based during the month, with nearly every economic sector shedding jobs.
Today’s report brings the total number of jobs lost since January 2008 to almost 6.5 million. In addition, the unemployment rate ticked up to 9.5 percent, the highest level since August 1983.
Overall, today’s data indicate the labor market remains on shaky ground as businesses continue looking for ways to cut costs amid continually weak demand. In contrast, weekly unemployment claims data, which has improved on a consistent basis in recent weeks, tell a more positive story.
Nonetheless, the economy likely will continue shedding jobs for at least the next year as the U.S. economy struggles to emerge from its worst recession since the early 1980s.
Kevin West, CFA Associate Director/Portfolio Analyst
Investment Alert
Call Notice
The following Structured Product Certificates will be called effective 07/15/09: TC7670, TC7681, TC7680
Extension Notice
The following Structured Product Certificates will be extended to their next call date: FC7686, FC7687, FC7663, FC7684
Call Notice
The following Structured Product Certificates will be called effective 07/15/09: FC7514, FC7516, FC7521, FC7522, FC7623, FC7627, FC7670, FC7277, FC7681, FC7680
