MUNICIPAL LETTERS OF CREDIT (MULOCs)

MULOCs can be used for the collateralization of state, city, court, or local government (municipal) deposits.

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Events

Independent Bankers Association of New York State – CFO Meeting
May 17 - 18

How to Use Desktop Underwriter (DU)
June 5

The Provident Bank used a $900,000 Community Investment Program (CIP) Advance provided by the HLB to help construct Spruce Senior Housing, a three-story building with 90 units for very low-income senior citizens...more

Credit Union Members: 83% Increase Since the Start of the Financial Crisis

At a period of unprecedented stress in the capital markets, when our members needed liquidity, we were able to step up and meet the demand...more

Sun National Bank used an advance to help renovate a hotel and conference facility in Cape May, New Jersey. The project not only created several local jobs, but it preserved a registered National Historic Landmark building, maintaining the community’s vibrancy...more

Tioga State Bank used an advance to help provide financing to Bates Troy Inc., a local family-owned and operated community business offering cleaning and clothing restoration services for healthcare facilities...more

A New Voice for Housing

Housing policy advocates found a new voice in December when the Bipartisan Policy Center announced the full membership of its Housing Commission, which will work to develop recommendations to address the nation’s troubled housing sector...more