NCUA Provides Update on CLF Membership and Borrowing Arrangements at Fed's Discount Window

The National Credit Union Administration's Emergency Liquidity rule required all larger credit unions establish access to
a federal source of liquidity by the end of March 2014.

These federal sources of liquidity are the Federal Reserve’s Discount Window, NCUA’s Central Liquidity Facility (CLF) or both.

According to the 2014 Annual Report of the NCUA, the number of credit unions that were members of the CLF increased from 158
credit unions at the end of 2013 to 248 credit unions by the end of 2014. With the growth in CLF membership, the CLF's borrowing authority increased by $2.2 billion to $5.1 billion.

On the other hand, the number of federally insured credit unions that had arrangements with the Federal Reserve’s Discount Window increased, from 483 in 2013 to 663 by the end of 2014.