<PAGE> PAGE 1
000 B000000 08/31/97
000 C000000 825759
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 TRUST FOR CREDIT UNIONS
001 B000000 811-5407
001 C000000 8003425828
002 A000000 4900 SEARS TOWER
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60606
002 D020000 6303
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 GOVERNMENT SECURITIES PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 MORTGAGE SECURITIES PORTFOLIO
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C020600 TCU TARGET MATURITY PORTFOLIO (MAY 97)
007 C030600 Y
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 GOLDMAN SACHS & CO.
008 B00AA01 A
008 C00AA01 801-16048
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10004
010 A00AA01 CALLAHAN CREDIT UNION FINANCIAL SERVICES LTD
010 C01AA01 WASHINGTON
010 C02AA01 DC
010 C03AA01 20036
<PAGE> PAGE 2
010 C04AA01 5504
011 A00AA01 CALLAHAN FINANCIAL SERVICES, INC.
011 B00AA01 8-37809
011 C01AA01 WASHINGTON
011 C02AA01 DC
011 C03AA01 20036
011 C04AA01 5504
011 A00AA02 GOLDMAN, SACHS & CO.
011 B00AA02 8-129
011 C01AA02 NEW YORK
011 C02AA02 NY
011 C03AA02 10004
012 A00AA01 GOLDMAN, SACHS & CO.
012 B00AA01 84-01100
012 C01AA01 CHICAGO
012 C02AA01 IL
012 C03AA01 60606
013 A00AA01 ARTHUR ANDERSEN LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
014 A00AA01 CALLAHAN FINANCIAL SERVICES, INC.
014 B00AA01 8-37809
014 A00AA02 GOLDMAN, SACHS & CO.
014 B00AA02 8-129
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 E01AA01 X
015 A00AA02 THE NORTHERN TRUST COMPANY
015 B00AA02 S
015 C01AA02 CHICAGO
015 C02AA02 IL
015 C03AA02 60675
015 E01AA02 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 57
019 C00AA00 FUNDSGROUP
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
<PAGE> PAGE 3
021 000000 0
022 A000001 BEAR STEARNS COMPANIES, INC.
022 B000001 13-4946705
022 C000001 8354213
022 D000001 21576
022 A000002 LEHMAN BROTHERS
022 B000002 13-2663822
022 C000002 4231512
022 D000002 14942
022 A000003 NOMURA SECURITIES, INC.
022 B000003 13-2642206
022 C000003 4218934
022 D000003 1592
022 A000004 SWISS BANK CORP.
022 B000004 13-2639550
022 C000004 3077966
022 D000004 0
022 A000005 DEUTSCHE BANK
022 C000005 2423477
022 D000005 70197
022 A000006 CHASE MANHATTAN SECURITIES
022 B000006 13-3112952
022 C000006 2156062
022 D000006 7750
022 A000007 J.P. MORGAN
022 C000007 2080412
022 D000007 0
022 A000008 DONALDSON, LUFKIN, JENRETTE
022 C000008 1526139
022 D000008 0
022 A000009 CS FIRST BOSTON CORP.
022 B000009 13-5659485
022 C000009 1480708
022 D000009 20152
022 A000010 CANADIAN IMPERIAL
022 C000010 1166935
022 D000010 0
023 C000000 36944334
023 D000000 305411
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
<PAGE> PAGE 4
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
<PAGE> PAGE 5
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 CHUBB GROUP
080 B00AA00 N/A
080 C00AA00 1250
081 A00AA00 N
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
024 000100 Y
025 A000101 GOLDMAN, SACHS & CO.
025 B000101 13-5108880
025 C000101 D
025 D000101 34736
025 A000102 BEAR STEARNS COMPANIES, INC.
025 B000102 13-4946705
025 C000102 D
025 D000102 16700
025 A000103 CHASE MANHATTAN SECURITIES
025 B000103 13-3112952
025 C000103 D
025 D000103 15000
025 A000104 SWISS BANK CORP.
025 B000104 13-2639550
025 C000104 D
025 D000104 29559
025 A000105 DEUTSCHE BANK
<PAGE> PAGE 6
025 C000105 D
025 D000105 26386
025 A000106 J.P. MORGAN SECURITIES
025 C000106 D
025 D000106 5010
025 A000107 DONALDSON LUFKIN & JENRETTE
025 C000107 D
025 D000107 16700
025 A000108 UBS SECURITIES CORP.
025 C000108 D
025 D000108 20875
025 A000109 MORGAN STANLEY & CO.
025 B000109 13-2655990
025 C000109 D
025 D000109 36162
025 A000110 BANKER'S TRUST CO.
025 C000110 D
025 D000110 15000
025 A000111 CORESTATES BANK, N.A.
025 C000111 D
025 D000111 14289
025 A000112 MELLON BANK, N.A. PITTSBURGH
025 C000112 D
025 D000112 19954
025 D000113 0
025 D000114 0
025 D000115 0
025 D000116 0
028 A010100 422499
028 A020100 878
028 A030100 0
028 A040100 514255
028 B010100 368375
028 B020100 1079
028 B030100 0
028 B040100 455896
028 C010100 516748
028 C020100 1018
028 C030100 0
028 C040100 414968
028 D010100 365679
028 D020100 1142
028 D030100 0
028 D040100 444439
028 E010100 490223
028 E020100 1082
028 E030100 0
028 E040100 474527
028 F010100 570245
028 F020100 1213
028 F030100 0
<PAGE> PAGE 7
028 F040100 579202
028 G010100 2733769
028 G020100 6412
028 G030100 0
028 G040100 2883287
028 H000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 N
041 000100 N
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 300000
048 A020100 0.200
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 300000
048 K020100 0.150
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
<PAGE> PAGE 8
060 B000100 Y
061 000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 39.9
062 E000100 0.0
062 F000100 30.6
062 G000100 0.0
062 H000100 8.9
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 20.8
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 36
063 B000100 0.0
064 A000100 N
064 B000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
<PAGE> PAGE 9
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 12
072 B000100 23683
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 797
072 G000100 431
072 H000100 0
072 I000100 0
072 J000100 73
072 K000100 0
072 L000100 6
072 M000100 22
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 30
072 S000100 32
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 33
072 X000100 1424
072 Y000100 631
072 Z000100 22890
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 22890
072DD020100 0
072EE000100 0
073 A010100 0.0530
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 72
<PAGE> PAGE 10
074 B000100 175900
074 C000100 266207
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 1298
074 M000100 3
074 N000100 443480
074 O000100 0
074 P000100 32
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 2243
074 S000100 0
074 T000100 441205
074 U010100 441205
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 1.0000
074 X000100 135
074 Y000100 0
075 A000100 430962
075 B000100 0
076 000100 0.00
024 000200 Y
025 A000201 BEAR STEARNS COMPANIES, INC.
025 B000201 13-4946705
025 C000201 D
025 D000201 8385
025 A000202 NOMURA SECURITIES INC.
025 B000202 13-2642206
025 C000202 D
025 D000202 1613
025 A000203 DRESDNER KLEINWORT BENSON, N.A.
025 C000203 D
025 D000203 5160
025 A000204 MORGAN STANLEY & CO.
025 C000204 D
025 D000204 210
025 A000205 J.P. MORGAN SECURITIES INC.
025 C000205 D
025 D000205 3225
025 D000206 0
<PAGE> PAGE 11
025 D000207 0
025 D000208 0
028 A010200 19750
028 A020200 527
028 A030200 0
028 A040200 1323
028 B010200 6050
028 B020200 583
028 B030200 0
028 B040200 5452
028 C010200 20595
028 C020200 569
028 C030200 0
028 C040200 29401
028 D010200 15500
028 D020200 595
028 D030200 0
028 D040200 10194
028 E010200 13500
028 E020200 666
028 E030200 0
028 E040200 6124
028 F010200 10500
028 F020200 681
028 F030200 0
028 F040200 6948
028 G010200 85895
028 G020200 3621
028 G030200 0
028 G040200 59442
028 H000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 N
041 000200 N
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.200
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
<PAGE> PAGE 12
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 0
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 3.3
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 20.8
062 N000200 76.5
062 O000200 0.0
062 P000200 0.0
062 Q000200 1.8
062 R000200 0.0
063 A000200 0
063 B000200 0.7
064 A000200 N
064 B000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
<PAGE> PAGE 13
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 452003
071 B000200 427890
071 C000200 486130
071 D000200 88
072 A000200 12
072 B000200 34421
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 1082
072 G000200 541
072 H000200 0
072 I000200 4
072 J000200 75
072 K000200 0
072 L000200 13
072 M000200 23
072 N000200 0
072 O000200 0
<PAGE> PAGE 14
072 P000200 0
072 Q000200 0
072 R000200 48
072 S000200 33
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 31
072 X000200 1850
072 Y000200 0
072 Z000200 32571
072AA000200 0
072BB000200 1471
072CC010200 5778
072CC020200 0
072DD010200 32756
072DD020200 0
072EE000200 0
073 A010200 0.5940
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 74
074 B000200 18600
074 C000200 0
074 D000200 559332
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 11277
074 K000200 0
074 L000200 5799
074 M000200 69
074 N000200 595151
074 O000200 27924
074 P000200 144
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 2441
074 S000200 0
074 T000200 564642
074 U010200 57397
074 U020200 0
074 V010200 9.84
074 V020200 0.00
074 W000200 0.0000
074 X000200 95
<PAGE> PAGE 15
074 Y000200 0
075 A000200 0
075 B000200 541088
076 000200 0.00
024 000300 Y
025 A000301 BEAR STEARNS COMPANIES, INC.
025 B000301 13-4946705
025 C000301 D
025 D000301 13260
025 A000302 NOMURA SECURITIES INC.
025 B000302 13-2642206
025 C000302 D
025 D000302 2550
025 A000303 DRESDNER KLEINWORTH BENSON, N.A.
025 C000303 D
025 D000303 8160
025 A000304 MORGAN STANLEY & CO.
025 C000304 D
025 D000304 333
025 A000305 J.P. MORGAN SECURITIES INC.
025 C000305 D
025 D000305 5100
025 A000306 DELETE
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 15403
028 A020300 415
028 A030300 0
028 A040300 0
028 B010300 53
028 B020300 458
028 B030300 0
028 B040300 0
028 C010300 3
028 C020300 418
028 C030300 0
028 C040300 15297
028 D010300 10000
028 D020300 418
028 D030300 0
028 D040300 195
028 E010300 3250
028 E020300 469
028 E030300 0
028 E040300 1046
028 F010300 5000
028 F020300 467
028 F030300 0
028 F040300 98
028 G010300 33709
<PAGE> PAGE 16
028 G020300 2645
028 G030300 0
028 G040300 16636
028 H000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 N
041 000300 N
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.200
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 0
062 A000300 Y
062 B000300 0.0
<PAGE> PAGE 17
062 C000300 0.0
062 D000300 8.4
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 13.1
062 N000300 24.7
062 O000300 0.0
062 P000300 0.0
062 Q000300 56.4
062 R000300 0.0
063 A000300 0
063 B000300 1.9
064 A000300 N
064 B000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
<PAGE> PAGE 18
070 P020300 Y
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 346806
071 B000300 345862
071 C000300 325990
071 D000300 106
072 A000300 12
072 B000300 22997
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 669
072 G000300 167
072 H000300 0
072 I000300 1
072 J000300 58
072 K000300 0
072 L000300 1
072 M000300 11
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 47
072 S000300 17
072 T000300 0
072 U000300 9
072 V000300 0
072 W000300 28
072 X000300 1008
072 Y000300 0
072 Z000300 21989
072AA000300 902
072BB000300 0
072CC010300 2440
072CC020300 0
072DD010300 22024
072DD020300 0
072EE000300 0
073 A010300 0.6410
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 75
074 B000300 29400
074 C000300 0
074 D000300 330141
074 E000300 0
<PAGE> PAGE 19
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 16429
074 K000300 0
074 L000300 2395
074 M000300 1
074 N000300 378441
074 O000300 26562
074 P000300 74
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 1490
074 S000300 0
074 T000300 350315
074 U010300 35925
074 U020300 0
074 V010300 9.75
074 V020300 0.00
074 W000300 0.0000
074 X000300 45
074 Y000300 0
075 A000300 0
075 B000300 334474
076 000300 0.00
024 000600 N
025 A000601 DELETE
025 D000601 0
025 A000602 DELETE
025 D000602 0
025 A000603 DELETE
025 D000603 0
025 A000604 DELETE
025 D000604 0
025 A000605 DELETE
025 D000605 0
025 A000606 DELETE
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 0
028 A020600 0
028 A030600 0
028 A040600 0
028 B010600 0
028 B020600 0
028 B030600 0
028 B040600 0
<PAGE> PAGE 20
028 C010600 0
028 C020600 0
028 C030600 0
028 C040600 63043
028 D010600 0
028 D020600 0
028 D030600 0
028 D040600 0
028 E010600 0
028 E020600 0
028 E030600 0
028 E040600 0
028 F010600 0
028 F020600 0
028 F030600 0
028 F040600 0
028 G010600 0
028 G020600 0
028 G030600 0
028 G040600 63043
028 H000600 0
037 000600 Y
038 000600 0
039 000600 N
040 000600 N
041 000600 N
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.000
048 A010600 75000
048 A020600 0.250
048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 75000
<PAGE> PAGE 21
048 K020600 0.200
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 N
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 1000000
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 0.0
064 A000600 N
064 B000600 N
070 A010600 Y
070 A020600 Y
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
<PAGE> PAGE 22
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 Y
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 51708721
071 B000600 107414301
071 C000600 40488211
071 D000600 128
072 A000600 9
072 B000600 2862
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 111
072 G000600 22
072 H000600 0
072 I000600 0
072 J000600 24
072 K000600 0
072 L000600 4
072 M000600 2
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 40
072 S000600 3
072 T000600 0
072 U000600 1
072 V000600 0
072 W000600 4
072 X000600 211
072 Y000600 0
<PAGE> PAGE 23
072 Z000600 2651
072AA000600 131
072BB000600 0
072CC010600 31
072CC020600 0
072DD010600 2939
072DD020600 0
072EE000600 0
073 A010600 0.4629
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 49
074 B000600 0
074 C000600 0
074 D000600 0
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 0
074 M000600 0
074 N000600 49
074 O000600 0
074 P000600 7
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 42
074 S000600 0
074 T000600 0
074 U010600 0
074 U020600 0
074 V010600 0.00
074 V020600 0.00
074 W000600 0.0000
074 X000600 0
074 Y000600 0
075 A000600 0
075 B000600 63246
076 000600 0.00
SIGNATURE DEBORAH FARRELL
TITLE ADMIN. ASSISTANT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE TRUST
FOR CREDIT UNIONS' ANNUAL REPORT DATED AUGUST 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> MONEY MARKET PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 442,106,662
<INVESTMENTS-AT-VALUE> 442,106,662
<RECEIVABLES> 1,298,149
<ASSETS-OTHER> 75,258
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 443,480,069
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,275,393
<TOTAL-LIABILITIES> 2,275,393
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 441,204,676
<SHARES-COMMON-STOCK> 44,204,676
<SHARES-COMMON-PRIOR> 426,709,826
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 441,204,676
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,683,433
<OTHER-INCOME> 0
<EXPENSES-NET> (793,498)
<NET-INVESTMENT-INCOME> 22,889,935
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 22,889,935
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (22,889,935)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,961,231,607
<NUMBER-OF-SHARES-REDEEMED> (4,958,397,761)
<SHARES-REINVESTED> 11,661,004
<NET-CHANGE-IN-ASSETS> 14,494,850
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 796,813
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,424,270
<AVERAGE-NET-ASSETS> 430,961,731
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.053
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.053)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.33
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE TRUST
FOR CREDIT UNIONS' ANNUAL REPORT DATED AUGUST 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> GOVERNMENT SECURITIES PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 576,196,037
<INVESTMENTS-AT-VALUE> 577,931,871
<RECEIVABLES> 17,075,975
<ASSETS-OTHER> 142,830
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 595,150,676
<PAYABLE-FOR-SECURITIES> 27,923,611
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,585,304
<TOTAL-LIABILITIES> 30,508,915
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 581,950,036
<SHARES-COMMON-STOCK> 57,397,464
<SHARES-COMMON-PRIOR> 54,874,828
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (580,622)
<ACCUMULATED-NET-GAINS> (18,463,487)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,735,834
<NET-ASSETS> 564,641,761
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 34,420,952
<OTHER-INCOME> 0
<EXPENSES-NET> (1,849,721)
<NET-INVESTMENT-INCOME> 32,571,231
<REALIZED-GAINS-CURRENT> (1,471,081)
<APPREC-INCREASE-CURRENT> 5,778,256
<NET-CHANGE-FROM-OPS> 36,878,406
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (32,571,231)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (184,815)
<NUMBER-OF-SHARES-SOLD> 10,921,160
<NUMBER-OF-SHARES-REDEEMED> (9,016,857)
<SHARES-REINVESTED> 618,333
<NET-CHANGE-IN-ASSETS> 28,939,326
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (16,992,406)
<OVERDISTRIB-NII-PRIOR> (395,807)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,082,182
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,849,721
<AVERAGE-NET-ASSETS> 541,087,847
<PER-SHARE-NAV-BEGIN> 9.76
<PER-SHARE-NII> 0.591
<PER-SHARE-GAIN-APPREC> 0.083
<PER-SHARE-DIVIDEND> (0.594)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.84
<EXPENSE-RATIO> 0.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE TRUST
FOR CREDIT UNIONS' ANNUAL REPORT DATED AUGUST 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> MORTGAGE SECURITIES PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 358,218,395
<INVESTMENTS-AT-VALUE> 359,541,137
<RECEIVABLES> 18,824,439
<ASSETS-OTHER> 75,570
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 378,441,146
<PAYABLE-FOR-SECURITIES> 26,562,229
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,563,698
<TOTAL-LIABILITIES> 28,125,927
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 360,550,064
<SHARES-COMMON-STOCK> 35,925,213
<SHARES-COMMON-PRIOR> 34,443,586
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,300,680)
<ACCUMULATED-NET-GAINS> (10,256,907)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,322,742
<NET-ASSETS> 350,315,219
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 22,996,886
<OTHER-INCOME> 0
<EXPENSES-NET> (1,007,978)
<NET-INVESTMENT-INCOME> 21,988,908
<REALIZED-GAINS-CURRENT> 901,649
<APPREC-INCREASE-CURRENT> 2,440,462
<NET-CHANGE-FROM-OPS> 25,331,019
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (21,988,908)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (35,416)
<NUMBER-OF-SHARES-SOLD> 4,039,134
<NUMBER-OF-SHARES-REDEEMED> (3,026,928)
<SHARES-REINVESTED> 469,421
<NET-CHANGE-IN-ASSETS> 17,768,789
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (11,158,556)
<OVERDISTRIB-NII-PRIOR> (1,273,901)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 668,959
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,007,978
<AVERAGE-NET-ASSETS> 334,473,549
<PER-SHARE-NAV-BEGIN> 9.65
<PER-SHARE-NII> 0.640
<PER-SHARE-GAIN-APPREC> 0.101
<PER-SHARE-DIVIDEND> (0.641)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.75
<EXPENSE-RATIO> 0.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
