Thursday, January 14, 2016

Seven CUs Repurchased Some or All of Their CDCI Investments in 2015

Seven credit unions repurchased all or part of their outstanding Community Development Capital Initiative (CDCI) investments from the U.S. Treasury in 2015.

The evidence suggests that the pace of CDCI repurchases by credit unions accelerated in the second half of 2015.

Faith Based Federal Credit Union (Oceanside, CA) on August 19 fully repurchased its $30,000 of outstanding CDCI investment.

Prince Kuhio Federal Credit Union (Honolulu, HI) on September 9 bought back in full its CDCI investment of $273,000. The repurchase appears to be associated with Prince Kuhio merger into Hawaii FCU.

Fidelis Federal Credit Union (New York, NY) on October 14 fully repurchased $14,000 in CDCI investment from the U.S. Treasury Department.

Independent Employers Group Federal Credit Union (Hilo, HI) on November 18 repurchased in full $698,000 in CDCI investment. The repayment appears to be associated with the merger of Independent Employers Group FCU into HawaiiUSA FCU.

Liquidated Bethex Federal Credit Union (Bronx, NY) on November 18 fully repurchased $502,000 in outstanding CDCI investment.

Two credit union partially repurchased their CDCI investments in 2015. Liberty County Teachers Federal Credit Union (Liberty, TX) on December 16 partially repurchased its CDCI investment. Vigo County Federal Credit Union (Terre Haute, IN) partially repurchased its CDCI investment on February 25 and December 23.

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