The Antidote for
MBS Fatigue
Investment grade taxable municipal bonds are fully permissible for federal and most state-chartered credit unions — and for a tax-exempt institution, the yield math works in your favor in a way it never does for any taxable investor. In 30 minutes, you'll understand why.
In 30 minutes, you'll see your balance sheet differently.
Your credit union is a tax-exempt entity. That one fact changes everything about how you should be investing — and most credit unions aren't taking advantage of it.
Investment grade taxable municipal bonds are fully permissible under NCUA Part 703 and similar rules for state-chartered credit unions. They offer defined maturities, predictable cash flows, and positive convexity. And because you pay no federal income tax, you receive the full nominal yield — no haircut, no adjustment, no grossing up. What the bond pays is what you earn.
Taxable munis remain one of the most underutilized asset classes on credit union balance sheets. Not because of merit. Because of familiarity, broker-dealer coverage gaps, and the research infrastructure required to do it well.
This webinar changes that. In 30 minutes you will understand:
- Why your tax-exempt status makes taxable municipal bonds fundamentally different — and more valuable — for your institution than for any taxable investor
- How taxable munis can structurally improve your MBS portfolio by dampening extension risk, negative convexity, and cash flow you don't control
- Why the vast majority of credit union balance sheets are heavily concentrated in agency MBS — and why that concentration is working against you right now
- How Elite Capital and GW&K Investment Management — a $53B institutional fixed income manager and Elite's fixed income subadvisor since 2014 — deliver taxable muni access at preferred institutional pricing, with full back-office infrastructure included
Focused. Practical. No filler.
This is a tightly structured 30-minute session built around one idea: that your balance sheet is likely leaving meaningful yield on the table, and that fixing it is more straightforward than you think.
Extension risk, negative convexity, and cash flow uncertainty — why agency MBS quietly works against your balance sheet in today's rate environment.
Why your tax-exempt status is the single most important factor in this analysis — and what the yield math looks like for your institution specifically.
Why most credit unions don't own taxable munis — and how Elite Capital eliminates every barrier to doing it well.
Open questions on your portfolio, your balance sheet, or your institution's specific situation.
Designed for the people responsible for your balance sheet.
This webinar is designed for credit union CEOs, CFOs, Controllers, and Investment Committee members who are responsible for balance sheet investment decisions. No prior familiarity with municipal bonds is required — and no sales pressure will follow. This is a focused educational session built around one idea: that your institution may be leaving meaningful yield on the table, and that fixing it is more straightforward than you think.
Reserve Your Spot
Thursday, June 4, 2026 · 2:00 PM EDT · 30 Minutes · Live Webinar via Microsoft Teams
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Matthew Butler
Matthew Butler is the Founder and Managing Principal of Elite Capital Management Group, an SEC-registered investment advisor working exclusively with credit unions since 2007. Elite partners with GW&K Investment Management — a Boston-based institutional fixed income manager founded in 1974 — to deliver fully customized taxable municipal bond portfolios at preferred institutional pricing. Every portfolio is built specifically for the institution. No off-the-shelf models, ever.