188 CUs Borrowed from Discount Window in Q3 2017

The Federal Reserve reported that 188 credit unions borrowed from the Discount Window 255 times during the third quarter of 2017.

The aggregate amount borrowed was almost $176.3 million during the third quarter -- up from slightly more than $152.7 million borrowed in the previous quarter.

The average amount borrowed by credit unions was $691.3 thousand. The median Discount Window borrowing was $10,000.

The maximum amount borrowed was $25 million by Chevron FCU (Oakland, CA).

The most frequent borrowers from the Discount Window were True North FCU (Juneau, AK), North Star Community CU (Maddox, ND), Aurora CU (Milwaukee, WI), and United Business and Industry FCU (Plainville, CT).

The vast majority of the credit unions borrowing from the Discount Window used the primary credit program, which is available for the healthiest institutions. One credit union used the secondary credit program. Four credit unions borrowed multiple times from the seasonal credit program, which assists small depository institutions in managing significant seasonal swings in their loans and deposits.

The Federal Reserve is required by law to disclose with a two year delay information on borrowings from the Discount Window.