Dear Mr. Edwards:
You have asked if federal credit unions (FCUs) may invest in obligations that are fully guaranteed by the Overseas Private Investment Corporation (OPIC). Yes. FCUs are authorized to invest in, among other things, “obligations, participations, securities, or other instruments of, or fully guaranteed as to principal and interest by any . . . agency of the United States.” 12 U.S.C. §1757(7)(E). As set forth in its enabling statute, OPIC is an agency of the United States. See 22 U.S.C. §2191. Accordingly, obligations fully guaranteed by OPIC are permissible investments for FCUs.
Michael J. McKenna