ALEXANDRIA, Va. — NCUA's Central Liquidity Facility showed positive performance trends during the first quarter of 2014, with stock dividend rates increasing to 0.25%, the regulator announced Friday.
NCUA chairman Debbie Matz called the trend "most encouraging."
Highlights of the data include:
- CLF membership rose by nearly 70% year-over-year, from 129 at the end of the first quarter of 2013, to 218 at the end of Q1 this year.
- Assets rose to $180 million, a $65-million increase year-over-year.
- Retained earnings hit $27.8 million, a rise of $0.4 million from the end of Q1 2013.
- Maximum legal borrowing authority rose by 58% during the previous year, from $2.4 billion to $3.8 billion.
"The CLF is a reliable source of emergency liquidity, which is important to the stability of the credit union system," said Matz in a prepared statement, "The 59% increase in credit union participation during the last year has also resulted in more CLF borrowing capacity to meet emergency liquidity needs."
The CLF's 0.25% dividend rate is an uptick from the 0.10% rate paid quarterly since Q4 2012, and NCUA's statement said CLF management expects sustained moderate growth of both membership and portfolio earnings during 2014, with strong likelihood that the 0.25% rate will continue.
