When the first corporate credit union was established in 1968, one of its primary functions was providing liquidity to its member credit unions. Today, Volunteer Corporate still understands the importance of lending services that meet the unique needs of our membership. That is why we offer a wide range of cost efficient ways to meet your cash flow needs.
Benefits of choosing VolCorp for your Liquidity Needs:
- Reputation of exceptional member service
- Quick turnaround of cost-effective funding options
- Safety and soundness
- Flexibility to customize loans to meet your specific needs
- Processing linked directly to your credit union’s Transaction Account
Line of Credit
For those occasions when your funds are low, VolCorp’s pre-approved Line of Credit can help you through your liquidity crunch. Once your loan application is approved, we will establish your Line of Credit. Normally, our lines are 10% of your credit union’s assets, but larger lines are available with approval. Your Line of Credit is automatically accessed when your Transaction Account drops below your average daily settlement balance. VolCorp’s Line of Credit carries a below market variable rate that is sensitive to changes in the market.
When a Line of Credit will not suffice for extended liquidity emergencies, a VolCorp Term Loan is available. Our Term Loans can be customized to meet your needs, whether they are short or long term, with both fixed and variable rate options. VolCorp has term loans with a payment schedule, terms, and conditions to fit your particular situation.
This loan type is secured by your credit union’s marketable securities. Securities offered as collateral are maintained at VolCorp and loan proceeds are advanced for a specific period of time. Maturity dates on the loan cannot exceed the maturity of the collateral. Interest rates may be fixed or variable and are set when the loan is established.
Unsecured Short-Term Loans
These fixed rate, short-term loans may be issued with one to twelve week maturities. A one-week notice prior to setup is required to ensure availability of funds. The loan rate will be established upon completion of the loan paperwork.
Letters of Credit
Guarantee payment of municipal/utility deposits or Visa/MasterCard can be made with our non-negotiable, non-assignable Letter of Credit. These Letters of Credit are issued for a specific period of time and amount. VolCorp’s Letter of Credit is the low-cost answer to payment guarantees.
Issuing share certificates through SimpliCD gives your credit union a centralized way to quickly raise funds and generate liquidity through federally insured share certificates. With access to a nationwide market of institutional investors, your credit union will have the ability to issue certificates in amounts and terms that can be tailored to suit your asset/liability needs. To issue through SimpliCD, you must be federally insured and have the ability to accept non-member deposits.
Getting started is easy. Contact Justing Holt at ext. 7922 or email at firstname.lastname@example.org
SimpliCD Issuance FAQ Sheet
Central Liquidity Facility (CLF)
The CLF is a credit union’s lender of last resort. Membership is voluntary and is open to credit unions that purchase a prescribed amount of CLF stock. VolCorp serves as a settlement agent for our credit unions who own CLF stock. A government agency within NCUA, the CLF has access to the U.S. Treasury. To purchase CLF stock, visit www.ncua.gov
and type “CLF” in the search engine.
For more information on any of our Liquidity Services, please contact Lea Joy at (800) 470-3444 or (615) 232-7900, extension 7930 or email@example.com