Monday, October 29, 2012

NCUA Closed US Central Bridge FCU

The National Credit Union Administration (NCUA) closed U.S. Central Bridge Corporate Federal Credit Union (U.S. Central Bridge).

This means that U.S. Central Bridge redeemed its CLF stock and the agent group is now no longer providing CLF coverage for member natural person credit unions. As a result, credit unions and their corporates no longer have the CLF as a source of backup liquidity, unless they join the CLF directly.

Read the press release.
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