Non-Member Funding Program
CMS's Non-Member Funding Program (NMFP) was created to provide additional liquidity and funding source for NCUASIF insured credit unions that have low income designation.
The NMFP provides qualified credit unions access to the $3 trillion institutional cash market via high-quality stable non-member deposits. In compliance with NCUA regulations, NMFP allows low-income designated credit unions to receive non-member funding, up-to 20% of their current share balances, in a quick and easy manner.
Upon approval, participating credit unions can begin receiving deposits in a timely manner and increase or decrease the desired level of funding at any time, with no penalty. Through the NMFP, qualified credit unions may easily acquire cost effective funding to meet their unique balance sheet needs.
NMFP strives to provide qualified credit unions with an efficient, reliable and proactive way to manage primary and contingency funding. Via a single standard business money market account, NMFP provides funding representing hundreds of AML/BSA pre-screened depositors. Your credit unions determines the rate and funding levels that best suit your specific asset and liability strategy.
Outstanding Values to Credit Unions
A Centralized Way to Raise Funds And Generate Liquidity Through A Single Account
Stable & Flexible Deposit Funding At Your Standard Money Market Or Savings Rate
No Expenses For Marketing, Check Processing, Customer Service Or Branch Support
No Administrative Burden
Easy To Setup; No Burdensome Work, System Integration Or Special Processes Needed
A Single Money Market Or Savings Account Is Opened In The Name Of Custodian Bank. Account Is Opened With Your Documents No Special Forms Or Contracts
All Bank Secrecy Act (BSA) And Anti-Money Laundering (AML) Requirements Are Completed By The Custodian Bank, U.S. Bank, N.A.
Reliable and Flexible
Funds Are Primarily Sourced From Corporate Cash Managers And Treasurers
Access To Deposits Can Be Tailored To Suite Specific Asset And Liability Needs
No Reciprocal Deposit Arrangements Or Term Commitments Are Required