The National Credit Union Administration Central Liquidity Facility (CLF or Facility) was created by the National Credit Union Central Liquidity Facility Act (12 U.S.C. § 1795). The Facility is a mixed ownership Government corporation within the NCUA. It is an instrument of the Federal Government owned by its member credit unions and managed by the NCUA Board. The purpose of the Facility is to improve the general financial stability by providing member credit unions with a source of loans to meet their liquidity needs and thereby encourage savings, support consumer and mortgage lending, and provide basic financial resources to all segments of the economy.
The CLF was created by Congress in 1979 because credit unions needed their own source of funds to meet their liquidity needs in the same way that the Federal Reserve System discount window provided access to loans for banks. Over time, credit unions have gained access to federal contingent liquidity sources (for example, credit unions who qualify may now borrow from the Federal Reserve discount window), but the CLF continues to be an important back-up source of liquidity for both Federal- and state-chartered credit unions.
Regular membership is voluntary and open to all federal credit unions, federally insured state-chartered credit unions and privately insured credit unions. Please see Operating Circular 20-03 (opens new window) for more information.
- Federal Credit Union Act, Subchapter III – Central Liquidity Facility (opens new window)
- Central Liquidity Facility, Part 725 of the NCUA's Rules and Regulations (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
- Final Interpretive Ruling and Policy Statement (IRPS) 01-2, “Central Liquidity Facility Advance Policy” (opens new window)
- Guidance on How to Comply with NCUA Regulation §741.12 Liquidity and Contingency Funding Plans
The NCUA is committed to providing a site that is accessible to the widest possible audience, regardless of technology or ability. Should you need assistance with the content on this page, please contact the CLF staff:
NCUA Central Liquidity Facility
1775 Duke Street
Alexandria, VA 22314