A NCUA Media Release dated March 6th announced that the Credit Union System Investment Program (CU SIP) has been extremely successful due to the high level of support from credit unions.
Over $7.7 billion has been issued to corporate credit unions during the first two subscriptions. The CU SIP remains open for subsequent offerings if the need arises. The corporate CU’s have used the dollars to pay down external borrowing, freeing collateral for future contingency liquidity needs.
Randall C. Smith, Managing Editor
CUiNSIGHT.com
Wednesday, March 11, 2009
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