WASHINGTON –NCUA Chairman Michael E. Fryzel reminded credit unions that the agency's central liquidity facility is available to back up and lend money to credit unions during difficult times.

"The CLF has a total of approximately $41.5 billion available to meet back-up liquidity demands, appropriated by Congress and administered by NCUA. Credit unions should carefully monitor liquidity and if necessary, utilize the CLF on an as-needed basis," Fryzel wrote in a letter sent to all federally insured credit unions.

Congress recently increased the amount of money in the fund, which was needed because surge in requests. The fund, which can be accessed through corporate credit unions or through individual memberships by credit unions, has lent credit unions $1.6 billion this year.