ALEXANDRIA, Va. — The NCUA approved a temporary corporate credit union liquidity guarantee program that will operate from Oct. 16, 2008 through June 30, 2009.
Starting today, the NCUSIF is providing federally insured corporate credit unions with a 100% guarantee on new unsecured debt obligations, subject to terms detailed in the program.
The guarantee applies to new unsecured debt obligations issued by eligible corporate credit unions on or before June 30, 2009 and maturing on or before June 30, 2012, including promissory notes, commercial paper, interbank funding and any unsecured portion of secured debt.
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