Although 30-year fixed mortgages have shrunk as a percentage of total assets, long-term assets overall have increased to more than 35%.

Denise McGlone of Affinity Federal Credit Union knows that institutional safety and soundness depends on managing both sides of the balance sheet. As EVP/CFO of the $2.3 billion Basking Ridge, N.J., institution, she understands her job.

Over the past two years, McGlone has chosen to manage risk in several ways, including selling off part of her long-term, fixed-rate mortgage loan portfolio. The sale was driven in part by the need to strike a better balance among assets and liabilities in the face of eventually rising interest rates.

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