The new Flex Fixed Rate Advance provides members with greater flexibility in managing their interest rate risk. This non-amortizing fixed rate advance is available for terms of 1 year to 30 years and allows for partial or full prepayment (for a fee) like our regular fixed rate advance.

  • Unlike our current fixed advance which only offers monthly interest accrual with interest payments on the first business day of the following month, the Flex Regular Fixed Rate Advance allows the member to select the interest accrual and payment period (monthly, quarterly, semi-annually, or annually) AND to select the date of interest payment.
  • These enhancements provide better matching of interest income/expense and cash flow management.
  • Please consult our Credit Guide on Members Only, contact Credit Operations, or reach out to your Relationship Manager to find out more.
Maturity
12 months to 360 months
Rate
Fixed for the full term of the Advance
Accrual Basis
Actual / Actual
Interest and Principal are Paid
Interest payments are flexible in term (monthly quarterly, semi-annually, or annually), calendar date selected, and at maturity. Principal is paid at maturity.
Principal Prepayment Policy
The prepayment fee is equal to the present value of 100 percent of the lost cash flow to the FHLB, based upon the difference between the contract rate of the Advance and the current yield on FHLB securities of the same remaining maturity
Submission of Application
A Flex Regular Fixed Rate Advance application is required for each borrowing