Credit unions borrowed an aggregate amount of approximately $162.1 million from the Federal Reserve's Discount Window during the first quarter of 2017.
According to the Federal Reserve, 138 credit unions visited the Discount Window 157 times during the quarter.
During the the fourth quarter of 2016, 237 credit unions visited the Federal Reserve's Discount Window 272 times and borrowed an aggregate amount of almost $116.4 million.
The average amount borrowed from the Discount Window was $1,032,787. The median amount borrowed was $10,000.
The was majority of the credit unions borrowing from the Discount Window used the primary credit program, which is reserved for healthy credit unions. Four credit unions borrowed from the secondary credit program. One credit union, United Business and Industry Federal Credit Union (Plainville, CT), used the seasonal credit program, which assists small depository institutions in managing significant seasonal swings in their loans and deposits.
United Business and Industry FCU was the most frequent borrower, visiting the Discount Window a total of 12 times during the quarter.
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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