While a few credit unions may choose to join the CLF directly, WesCorp acts as a CLF agent for most of our members. However, before we can access CLF funds on your behalf, you must substantiate your liquidity needs and take the following four actions, or risk CLF denial. Ensure that your credit line is established with WesCorp and that it is large enough to cover any eventuality. CLF loans must be secured by a first priority security interest in assets equal to 110 percent of the CLF loan. Borrow funds as you normally do.
Most members automatically borrow through the settlement process.
The rate on CLF loans is favorable and will not exceed the three-month Treasury Bill equivalent yield plus 12.5 basis points. All rights reserved. For technical issues regarding this site, please contact website support . Click here for terms and conditions.