Monday, July 2, 2018

186 CUs Accessed the Fed's Discount Window during Q2 2016

During the second quarter of 2016, 186 credit unions borrowed from the Federal Reserve's discount window. This was up from 129 credit unions that borrowed from the discount window during the first quarter of 2016.

These 186 credit unions visited the Federal Reserve's discount window 204 times and borrowed an aggregate $92.92 million during the second quarter of 2016.

The average discount window loan amount was $455,490. The median amount borrowed was $10,000.

The maximum amount borrowed was $10.3 million by Army Aviation Center Federal Credit Union (Daleville, AL).

Army Aviation Center Federal Credit Union was the most frequent borrower from the discount window, visiting the discount window 7 times. The next most frequent borrowers were Richfield-Bloomington Credit Union (Bloomington, MN) and True North Federal Credit Union (Juneau, AK), which each borrowed from the discount window 4 times during the quarter.

Most credit unions borrowing from the Discount Window used the primary credit program, which is reserved for healthy credit unions. Three credit unions used the secondary credit program -- Melrose Credit Union (Briarwood, NY), Caribe Federal Credit Union (San Juan, PR), and Pinnacle Credit Union (Atlanta, GA).

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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