Jim Nussle, president/CEO of the Credit Union National Association (CUNA), released a statement regarding the Federal Housing Finance Agency’s (FHFA) final Federal Home Loan Bank (FHLB) program membership rule.
“Today’s actions by the FHFA will ensure continued access to the liquidity and flexibility the FHLB system provides, tools which help many credit unions manage their mortgage portfolios more effectively. Credit unions understand the needs of their members, and removing the unnecessary ongoing burden of demonstrating sufficient mortgage assets for FHLB affiliation is a big win for member-owned financial institutions.”