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U.S. Capitol. (Source: Shutterstock)Saying that the credit union system remains healthy but may need added liquidity, NCUA Chairman Rodney Hood asked the Senate Banking Committee Tuesday to extend the provisions of pandemic-related legislation that provided the agency’s Central Liquidity Facility with increased borrowing authority.
“While economic conditions are improving, the effects of the recent downturn will likely affect credit union performance through the end of the year and into 2021,” Hood said during a committee hearing featuring financial regulators.
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CUNA, NAFCU economists expect Fed will stay on track for tighter monetary policy next year.
The industry’s list of upcoming events is growing, with many groups planning to convene in person next year.
The state-chartered credit union now serves all of the Great Lakes State and parts of Ohio.
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