Central Liquidity Facility

The Central Liquidity Facility is a mixed-ownership government corporation created to improve the general financial stability of credit unions by serving as a liquidity lender to credit unions experiencing unusual or unexpected liquidity shortfalls. Member credit unions own the Central Liquidity Facility, which exists within the NCUA. The president of the Central Liquidity Facility manages the facility under the oversight of the NCUA Board.


The Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted on March 27, 2020, brings important changes to the Central Liquidity Facility. The CARES Act made four amendments to Subchapter III of the Federal Credit Union Act, all of which sunset or expire on December 31, 2020. These include:

  • Increasing the Central Liquidity Facility’s maximum legal borrowing authority;
  • Permitting temporary access for corporate credit unions, as agent members to borrow for their own needs;
  • Providing greater flexibility and affordability to agent members to join and serve smaller groups of their covered institutions than their entire memberships; and
  • Providing more clarity and flexibility about the purposes for which the NCUA Board can approve loans by removing the phrase, “the Board shall not approve an application for credit the intent of which is to expand credit union portfolios.”

Additionally, the NCUA Board approved an interim final rule of Part 725 of the NCUA’s Rules and Regulations on April 13, 2020, that provided additional enhancements to the Central Liquidity Facility, including:

  • Eliminating the six-month waiting period for a new member to receive a loan;
  • Eliminating the explicit waiting period for a credit union to terminate its membership; and
  • Easing collateral requirements for certain assets securing loans.

Credit unions are encouraged to join the Central Liquidity Facility as soon as possible. Membership is voluntary and open to all credit unions that purchase a prescribed amount of stock. There are two types of membership: regular members and agent members. Credit unions may borrow from the Central Liquidity Facility if they are a regular member, or are covered by an agent member — a corporate credit union.

Additional Information

The NCUA is committed to providing a site that is accessible to the widest possible audience, regardless of technology or ability. In the meantime, should you need assistance with the content on this page, please contact the Central Liquidity Facility staff at 703.518.6428. Staff will return voicemails by the next business day.


NCUA Central Liquidity Facility
1775 Duke Street
Alexandria, VA 22314

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