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Baxter Credit Union Retools Investment Program, Managed Accounts Adds to Success

Nearly 10 years ago, Baxter Credit Union's investment program had its limits, offering members very few products like annuities and certain types of mutual funds.

By Michelle A. Samaad | Updated on May 01, 2007

VERNON HILLS, Ill. — Nearly 10 years ago, Baxter Credit Union’s investment program had its limits, offering members very few products like annuities and certain types of mutual funds.

When J.R. Ridge, vice president of wealth management, came to the $1.2 billion credit union in 2004, the new staffer immediately began looking at ways to expand investment offerings. That expansion included a re-launch, which would bring in a managed account component. Managed accounts allow investors to customize their pick of securities from a selection recommended by a portfolio manager. The accounts typically require a minimum $100,000 investment, but some credit unions have linked up with firms that have dropped that requirement down as low as $25,000.

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