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Liquidity improves at six CCUs
ALEXANDRIA, Va (3/24/09)—Some good news relating to the corporate credit union (CCU) system: There have been improvements in the liquidity position of the six largest CCUs, according to the National Credit Union Administration (NCUA). The NCUA revealed Monday that deposits in the six biggest CCUs increased $12.2 billion from Dec. 31, 2008 to Feb. 2 this year. At the same time, their external borrowings decreased even more dramatically from $27.9 billion $2.1 billion. Also of note, the NCUA’s Credit Union System Investment Program (CU SIP), an initiative designed to add liquidity to the corporate credit union system, has injected $8.2 billion in loans. (See related story: Mid-Atlantic Corporate reaffirms strength.) Corporate credit unions used the funds to pay down external borrowings, freeing collateral for future contingency liquidity needs. The NCUA noted the liquidity improvement during its Monday “Corporate Update” webinar.


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