MERRIFIELD, Va. — Credit unions, particularly those bent on expanding their mortgage business while seeking rate protection and liquidity, have a budding romance these days with the Federal Home Loan Bank System.
Many of the 12 regional banks in the network have emerged as favored white knights, as one CU executive put it, in their mission of helping fund CUs' long-term portfolios.
While corporates remain the prime go-to liquidity vehicle for nonmortgage business, the Home Loan Banks are viewed now as experienced, reliable and consistent funding players with accommodating and friendly staffs.
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