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Debt Deals Spares Credit Unions

A last-minute deal that avoided a federal default spared credit unions from having to re-evaluate U.S. Treasury bond values on their books, a calculation other financial institutions had begun to make.

By David Morrison | Updated on October 23, 2013

A last-minute deal that avoided a federal default spared credit unions from having to re-evaluate U.S. Treasury bond values on their books, a calculation other financial institutions had begun to make.

According to NCUA spokesman John Fairbanks, federally insured credit unions had about $6 billion in Treasury securities on their balance sheets as of Sept. 30.

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