Are Credit Unions Moving Beyond the NCUA?
Despite a lending capacity of nearly $20 billion, the Central Liquidity Facility has not issued a loan since 2009, leaving many such as Chip Filson wondering if the organization has outlasted its usefulness.
Explaining Liquidity in Credit Unions
It’s Financial Literacy Month and CUSO Magazine’s Esteban Camargo is back to explain key financial and economic concepts that impact our industry. In this article, Esteban attacks liquidity, explaining what it is and how credit unions manage it.
Congress Returns With Major CU Proposals Unresolved
Congress returns to Capitol Hill this week with a long list of unresolved issues that could have a direct impact on credit unions—ranging from marijuana banking to credit card interchange policies, reports David Baumann of CUCollaborate.
NCUA Board Asks Congress to Make CLF Changes Permanent
The National Credit Union Administration board is asking Congress to make permanent the pandemic-related changes to the agency’s Central Liquidity Facility, reports David Baumann of the Washington Credit Union Daily.
House Panel Hints at Field of Membership Expansion Legislation
The House Financial Services Committee has given an early indication that it may consider legislation that would allow credit unions to expand their fields of membership into underserved areas, reports David Baumann of the Washington CU Daily. Among other issues, the Committee also may discuss making changes to the NCUA Central Liquidity Facility, the difficulties starting Community Development Financial Institutions and Minority Depository Institutions and killing the Office of the Comptroller of the Currency’s “rent-a-bank” rule. The hearing is May 19.
A Once-a-Decade Opportunity
Chip Filson argues that what the aging Central Liquidity Facility needs is reform that focuses on cooperative solutions to the problems that ail it.
