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TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW Register now for CU HARP CU SIP live event
ALEXANDRIA, Va. (12/15/08, UPDATED 1:30 p.m. ET)--Credit unions now can register for a no-charge audio webcast focusing on details of the two newly announced National Credit Union Administration (NCUA) programs to assist credit union mortgage holders and corporate credit unions. It happens Tuesday at noon ET. The audio webcast will offer credit unions information about how they can participate in the "Credit Union Homeowners Affordability Relief Program (CU HARP)" and the "Credit Union System Investment Program (CU SIP)." The NCUA, Credit Union National Association (CUNA), state leagues and the National Association of Federal Credit Unions are hosting the event. The new time is a change from last week's CUNA announcement. It is in response to high demand for the one-hour event. The NCUA programs are designed, respectively, to lower monthly mortgage payments for struggling low- and moderate-income credit union members, and to free up collateral pledged by corporate credit unions and thereby provide increased contingent borrowing capacity. Both programs rely on the NCUA-administered Central Liquidity Facility (CLF) to provide funding. The program will feature two NCUA officials:
* CLF President Owen Cole, and * CLF Vice President Steve Sherrod.
The two federal officials will present details of the two programs and answer questions from conference participants. Use the resource link below to register.
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