Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CLF is liquidity resource NCUA reminds
ALEXANDRIA, Va. (10/21/08)--National Credit Union Administration (NCUA) Chairman Michael E. Fryzel issued a Letter to Credit Unions on Friday to remind credit unions that the Central Liquidity Facility (CLF) is an available resource for contingent liquidity during the current market turbulence. “The CLF has a total of approximately $41.5 billion available to meet back-up liquidity demands, appropriated by Congress and administered by NCUA. Credit unions should carefully monitor liquidity and if necessary, utilize the CLF on an as-needed basis,” Fryzel stated in the letter, which is also posted on the NCUA website. The CLF lends to credit unions that are creditworthy and demonstrate liquidity needs. A credit union generally is deemed creditworthy if it is a viable operation. Three forms of loans available through the CLF are:
* Short-term adjustment credits; * Seasonal credits; and *Protracted adjustment credits.
Credit unions can apply for a CLF loan either through a corporate credit union or as a regular member, the NCUA said in a release. Use the resource links below to access the NCUA website and to obtain details on the CLF loan process.
Other Resources

RSS





print
News Now LiveWire
Better economic & #CU conditions,leading to higher rates in '15,'16, will boost CU earnings, asset quality,capital http://t.co/rmJvi3MIpQ
7 hours ago
RT @CUNA: Today is the first day of #CUYouthMonth How is your #creditunion celebrating?
11 hours ago
New @FICO score metric expected this week, will include utility payments http://t.co/l0hGhilMqQ
12 hours ago
.@TheNCUA increased supplier diversity in 2014 by 49%, although NCUA’s workforce diversity levels declined slightly.
12 hours ago
Also from FFIEC today, council announces reappointments of Mary Hughes and Lauren Kingry to its State Liaison Committee. 2of2
12 hours ago