RANTOUL, Ill.—Credit Union 1 has become the second privately insured credit union approved for membership in the Federal Home Loan Bank (FHLB) system, according to a new report.
As CUToday.info reported earlier this week, Beacon Credit Union in Wabash, Ind., became the first privately insured credit union approved for membership in the FHLB.
A letter from American Share Insurance to its members confirmed Beacon’s FHLB membership. Credit Union 1’s entry into the FHLB was reported by Keith Leggett, the former senior vice president and senior economist at the ABA, on his Credit Union Watch blog.