What liquidity options are available?
NCUA recently issued Letter 20-CU-14 regarding the expanded availability of the Central Liquidity Facility (CLF). All eleven corporate credit unions have joined the CLF as agent members, expanding the availability of CLF borrowings to their members. Refer to NCUA Letter 20-CU-14 for more information. Credit unions must still assess and evaluate their contingency liquidity plans, given the current circumstances. Information about borrowing from the CLF, including how to become a member, is available on their website. For credit unions with access, the Federal Reserve’s discount window is also available to assist with eligible credit unions, as well as existing lines of credit.