overview
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important dates
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more info & application forms
CU SIP Program Overview
As you know, a new program called the Credit Union System Investment Program (CU SIP) was announced by the NCUA early in December. In summary, CU SIP allows creditworthy natural person credit unions to borrow from the CLF and then take the proceeds and invest them at a corporate credit union. The investment at the corporate credit union will be guaranteed by the National Credit Union Insurance Fund (NCUSIF) and the natural person credit union will receive a 25 basis point spread for their participation. The purpose of the program is to enhance liquidity in the Corporate Credit Union Network from within the credit union system.
VolCorp is a part of the Corporate Credit Union Network and is a member of the CLF on behalf of our members, but does not need to be a recipient of liquidity from the CU SIP program. VolCorp has ample liquidity available for our members. We are, however, available as a facilitator for this program should any of our members desire to participate.
The minimum investment required to participate in the CU SIP program is $1 million and has a term of one year. The CU SIP program should be available until June 30, 2009.
If you are interested in participating in this program, please call Phillip Cochran, Investment Services Manager at extension 234. Phillip can assist you in determining if this program would benefit your credit union.
You can email your signed application to Phillip Cochran at
pcochran@volcorp.org.
Important Dates:
- Deadline to apply is the last Friday of every month.
- The CU SIP will terminate on June 30, 2009 unless the NCUA Board extends the program.
Click the links below for additional information regarding NCUA’s CU SIP program as well as CU SIP application forms.
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