The National Credit Union Administration (NCUA) will host a free webinar—“CLF and Your Credit Union’s Contingent Liquidity”—Tuesday, Aug. 14, beginning at 2 p.m. EST. Central Liquidity Facility (CLF) President Owen Cole will discuss coming changes in the ownership of the CLF, the CLF’s role in meeting credit unions’ contingent liquidity needs, and issues around the proposed rule on access to emergency liquidity.
The CLF is a mixed ownership government corporation created to improve the general financial stability of credit unions by serving as a liquidity lender to credit unions experiencing unusual or unexpected liquidity shortfalls. With the scheduled closing of U.S. Central Bridge Credit Union in late October, more than 6,000 credit unions will lose access to the CLF. Credit unions need to plan for this change.
To find out more about the Aug. 14 webinar visit the