The Importance of Contingency Funding Plans: Letter to Credit Unions Number 23 CU 06
www.marktreichel.com
https://www.linkedin.com/in/mark-treichel/
https://www.linkedin.com/in/mark-treichel/
Contingency Funding Plans: An Open Letter from the National Credit Union Administration
In this episode, Samantha Shares discusses the National Credit Union Administration's letter concerning the importance of Contingency Funding Plans for credit unions. The letter, sent amidst financial strain in 2023, reminds credit unions to maintain viable contingency funding plans for a range of possible stress scenarios. Institutions are advised to assess their funding stability and operational readiness to access contingency lines. The episode also mentions how institutions can use the Federal Reserve's Discount Window and the Central Liquidity Facility in their contingency planning, and highlights the different requirements for institutions based on their size. This episode, sponsored by Credit Union Exam Solutions, is educational and does not serve as legal advice.
Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!
We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.
Hire us and gain:
• Peace of mind during your exam process
• Insider knowledge of NCUA procedures and expectations
• Strategies to address potential issues before they become problems
• Continuous access to our extensive subject matter expertise
With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves flying colors in its next examination.
Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.
