Trust for Credit Unions
July 14, 1995
Supplement to the Prospectus on behalf
of the Money Market Portfolio
dated December 9, 1994
Effective July 1, 1995, Callahan Credit Union Financial
Services Limited Partnership (the "Administrator") has agreed that
to the extent the annualized ordinary operating expenses (excluding
interest, taxes, brokerage and extraordinary expenses)(the
"Operating Expenses") of the Money Market Portfolio exceed 0.20% of
the average daily net assets of the Portfolio, the Administrator
will either reduce the administration fees otherwise payable to it
or pay such Operating Expenses of the Portfolio. This undertaking
replaces the prior undertaking of Goldman, Sachs & Co. stated in
the Prospectus to limit all expenses on behalf of or attributable
to the Money Market Portfolio other than advisory and
administration fees and extraordinary expenses.