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
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
1 day ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
1 day ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
1 day ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
1 day ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
1 day ago