<PAGE> PAGE 1
000 A000000 02/28/99
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010 A00AA01 CALLAHAN CREDIT UNION FINANCIAL SERVICES LTD
010 C01AA01 WASHINGTON
010 C02AA01 DC
010 C03AA01 20036
010 C04AA01 5504
011 A00AA01 CALLAHAN FINANCIAL SERVICES, INC.
<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
070 H020200 N
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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SIGNATURE DEBORAH FARRELL
TITLE ADMIN. ASSISTANT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE>
<LEGEND>
This schedule contains summary financial information extracted from the Trust
for Credit Unions annual report dated August 31, 1998 and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> TCU Money Market Portfolio
<S> <C>
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<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.31
<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, 1998 and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> TCU Govt Securities Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> FEB-28-1999
<INVESTMENTS-AT-COST> 710,056,939
<INVESTMENTS-AT-VALUE> 702,853,003
<RECEIVABLES> 14,531,270
<ASSETS-OTHER> 34,991
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 717,419,264
<PAYABLE-FOR-SECURITIES> 6,225,438
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,592,260
<TOTAL-LIABILITIES> 8,817,698
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 735,996,948
<SHARES-COMMON-STOCK> 73,154,083
<SHARES-COMMON-PRIOR> 66,893,980
<ACCUMULATED-NII-CURRENT> (1,563,512)
<OVERDISTRIBUTION-NII> (220,360)
<ACCUMULATED-NET-GAINS> (18,627,934)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (7,203,936)
<NET-ASSETS> 708,601,566
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 20,144,026
<OTHER-INCOME> 0
<EXPENSES-NET> (1,117,249)
<NET-INVESTMENT-INCOME> 19,026,777
<REALIZED-GAINS-CURRENT> (440,495)
<APPREC-INCREASE-CURRENT> (6,274,246)
<NET-CHANGE-FROM-OPS> 12,312,036
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (19,247,137)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,306,808
<NUMBER-OF-SHARES-REDEEMED> (2,494,978)
<SHARES-REINVESTED> 448,273
<NET-CHANGE-IN-ASSETS> 53,949,024
<ACCUMULATED-NII-PRIOR> (1,343,152)
<ACCUMULATED-GAINS-PRIOR> (18,187,439)
<OVERDISTRIB-NII-PRIOR> (762,530)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 676,947
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,117,249
<AVERAGE-NET-ASSETS> 682,557,235
<PER-SHARE-NAV-BEGIN> 9.79
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> (0.10)
<PER-SHARE-DIVIDEND> (0.27)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.69
<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, 1998 and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> TCU Mortgage Securities Port.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> FEB-28-1999
<INVESTMENTS-AT-COST> 481,072,126
<INVESTMENTS-AT-VALUE> 475,547,972
<RECEIVABLES> 2,614,537
<ASSETS-OTHER> 57,757
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 478,220,266
<PAYABLE-FOR-SECURITIES> 20,586
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,801,250
<TOTAL-LIABILITIES> 1,821,836
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 489,942,696
<SHARES-COMMON-STOCK> 49,115,279
<SHARES-COMMON-PRIOR> 37,843,661
<ACCUMULATED-NII-CURRENT> (905,169)
<OVERDISTRIBUTION-NII> (296,452)
<ACCUMULATED-NET-GAINS> (7,114,943)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (5,524,154)
<NET-ASSETS> 476,398,430
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13,522,441
<OTHER-INCOME> 0
<EXPENSES-NET> (653,098)
<NET-INVESTMENT-INCOME> 12,869,343
<REALIZED-GAINS-CURRENT> 502,551
<APPREC-INCREASE-CURRENT> (9,627,308)
<NET-CHANGE-FROM-OPS> 3,744,586
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13,165,795)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,397,647
<NUMBER-OF-SHARES-REDEEMED> (6,261,172)
<SHARES-REINVESTED> 273,947
<NET-CHANGE-IN-ASSETS> 33,848,634
<ACCUMULATED-NII-PRIOR> (608,717)
<ACCUMULATED-GAINS-PRIOR> (7,617,494)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 443,556
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 653,098
<AVERAGE-NET-ASSETS> 447,233,106
<PER-SHARE-NAV-BEGIN> 9.90
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> (0.20)
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.70
<EXPENSE-RATIO> 0.29
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
