Expanding Home Ownership Opportunities
FHLB members have access to reliable, low-cost liquidity, as well as financial and community services and products. Currently, FHLB member financial institutions must hold 10% of their assets in residential mortgage loans, but Community Financial Institutions (CFIs) are exempt from this requirement. The bill would specifically include credit unions in the CFI definition, expanding eligibility for FHLBank membership for more than 1,800 credit unions to join their regional FHLBank. Access to the FHLB system for small financial institutions improves their access to liquidity, lowering rates for consumers while maintaining their safety and soundness.
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Expand Home Ownership Pathways
A new bill aims to expand the eligibility for Federal Home Loan Bank (FHLB) membership by including credit unions in the Community Financial Institutions (CFI) definition. This change could allow over 1,800 credit unions to join their regional FHLBank, providing them with reliable, low-cost liquidity and access to financial services. By expanding FHLBank membership, smaller financial institutions will have improved access to liquidity, which in turn lowers rates for consumers while ensuring their safety and soundness.
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Expanding Home Ownership Opportunities
FHLB members have access to reliable, low-cost liquidity, as well as financial and community services and products. Currently, FHLB member financial institutions must hold 10% of their assets in residential mortgage loans, but Community Financial Institutions (CFIs) are exempt from this requirement. The bill would specifically include credit unions in the CFI definition, expanding eligibility for FHLBank membership for more than 1,800 credit unions to join their regional FHLBank. Access to the FHLB system for small financial institutions improves their access to liquidity, lowering rates for consumers while maintaining their safety and soundness.
