Friday, July 14, 2017

166 CUs Borrowed from Fed's Discount Window During Q2 2015

One hundred sixty-six credit unions borrowed from the Federal Reserve's discount window during the second quarter of 2015. In comparison, 118 credit unions borrowed from the discount window during the first quarter of 2015.

These 166 credit unions borrowed from the discount window 192 times for the total amount borrowed of $101.3 million.

The average amount borrowed was $527,672, while the median amount borrowed was $10,000.

The maximum amount borrowed from the discount window was $10 million by two credit unions -- First Financial Credit Union (West Covina, CA) and Houston Federal Credit Union (Sugar Land, TX).

There were 32 discount window loans of $1 million or more during the second quarter of 2015.

Mill City Credit Union (Minnetonka, MN) visited the discount window 7 times during the quarter. Three credit unions visited the discount window 6 times each -- Glendale FCU (Glendale, CA), Services Center FCU (Yankton, SD), and Topline FCU (Maple Grove, MN).

All credit unions, except for four, borrowed under the Federal Reserve's primary credit program, which is reserved for only well run credit unions. One credit union borrowed from the seasonal credit program, while three credit unions borrowed from the secondary credit program.

The Federal Reserve is required by law to disclose with a two year delay information on borrowings from the Discount Window.

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