Sunday, April 19, 2020

132 CUs Borrowed from Fed's Discount Window in Q1 2018

During the first quarter of 2018, 132 credit unions borrowed from the Federal Reserve's Discount Window.

Credit unions accessed the Federal Reserve's Discount Window 183 times during the first quarter of 2018 and borrowed an aggregate $243.7 million.

The average amount borrowed was $1,331,754 during the first quarter of 2018. However, the median amount borrowed was $10,000.

The maximum amount borrowed during the quarter was $42 million by United Nations Federal Credit Union (Long Island City, NY).

While most credit unions only visited the Discount Window once during the quarter, two credit unions were active borrowers from the Federal Reserve. Aurora Credit Union (Milwaukee, WI) visited the Discount Window 19 times during the quarter, followed by True North Federal Credit Union (Juneau, AK), which borrowed 17 times from the Discount Window.

The vast majority of the credit unions borrowing from the Discount Window used the primary credit program, which is available for the healthiest institutions. Two 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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