Removing Barriers Blog

NCUA Sends Letter to Credit Unions on Enhancements to Central Liquidity Facility Membership and Borrowing Authority
Posted April 16, 2020 by dyi

The NCUA sent a letter to credit unions regarding key changes to the NCUA’s Central Liquidity Facility (CLF). 

"The COVID-19 pandemic has created uncertainty for credit unions and their members. Liquidity, like capital, is a pillar of strength upon which the safety and soundness of the credit union system rests. The NCUA is implementing initiatives that will provide greater access to liquidity so credit union operations can remain uninterrupted during this rapidly evolving crisis. While we hope for the best outcome, we must prepare for the possibility that the CLF will be a vital resource to help credit unions address the impact of the COVID-19 pandemic. The NCUA encourages credit unions that are not members of the CLF to join as soon as possible, either as regular members or through an agent member."

Read the rest of the letter