Friday, January 3, 2020

257 CUs Borrowed from Federal Reserve Discount Window During Q4 2017

The Federal Reserve released data on December 31 that 257 credit unions visited the Discount Window 322 times and borrowed an aggregate $344,854,639 during the fourth quarter of 2017.

In the third quarter of 2017, 188 credit unions borrowed from the Federal Reserve's Discount Window.

The average amount borrowed by credit unions from the Discount Window was $1,074,314. However, the median amount borrowed was $10,000.

The maximum amount borrowed was $90 million by Great Lakes Credit Union (Bannockburn, IL).

United Business and Industry Federal Credit Union (Plainville, CT) visited the Discount Window 19 times during the the quarter, followed by Aurora Credit Union (Milwaukee, WI), which visited the Discount Window 15 times during the quarter.

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

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