Tuesday, October 10, 2017

180 CUs Borrowed from Fed's Discount Window in Q3 2015

During the third quarter of 2015, 180 credit unions borrowed from the Federal Reserve's Discount Window.

In comparison, 166 credit unions borrowed from the Federal Reserve's Discount Window during the second quarter of 2015.

Credit unions borrowed 270 times from the Federal Reserve's Discount Window during the third quarter of 2015.

The aggregate amount borrowed from the Federal Reserve was approximately $505.7 million.

The average amount borrowed was just shy of $1.9 million. The median amount borrowed was $75,000.

There were 45 Discount Window loans of $1 million or more during the quarter.

Visions Federal Credit Union (Endicott, NY) borrowed the single largest amount at $65 million on August 19. The credit union borrowed a total of $210 million from the Federal Reserve during the quarter.

Several credit unions actively borrowed from the Discount Window during the third quarter. Aurora Credit Union (Milwaukee, WI) borrowed from the Federal Reserve 14 times during the quarter. Both Vermont State Employees Credit Union (Montpelier, VT) and Services Center FCU (Yankton, SD) visited the Discount Window 13 times. Glendale FCU (Glendale, CA) borrowed from the Federal Reserve 12 times.

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