COLUMBUS, Ohio --Corporate One Federal Credit Union is saying thanks, but no thanks, to the cheap source of liquidity offered to corporates in the NCUA's new Credit Union System Investment Program. President/ CEO Lee Butke said that Corporate One supports the NCUA's two recently announced programs, and will assist member credit unions that want to participate, but it will not issue notes.
"Corporate One is pleased the NCUA is proactively working to maintain a sound and financially strong credit union system," Butke said. "Fortunately, Corporate One continues to have ample liquidity to serve our members, and at this time will not be asking the NCUA to place CU SIP or CU HARP funds with us."
Corporate One stressed it will assist member credit unions that want to participate by facilitating transactions with the Central Liquidity Facility.
