CUNA statement on FHLB program membership rule
WASHINGTON, DC (January 12, 2016) — 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.”
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.