There are many benefits to being a member of the FHLB.

Access to FHLB programs

In order to have access to our Advance Programs, Letters of Credit, Mortgage Purchase Program, Affordable Housing and Community Investment, and Correspondent programs, an institution must be a member stockholder of the FHLB.

Our credit services include competitively priced Advances and Letters of Credit. Advances are available in a variety of fixed or floating rate structures with flexible terms and conditions and are used for liquidity and asset/liability management. FHLB highly rated Letters of Credit are used for a variety of purposes including the collateralization of public unit deposits.

The Mortgage Purchase Program provides our members with an alternative to the traditional secondary market for its fixed-rate conforming conventional and FHA loan originations. Members receive an up-front competitive cash price and the Lender Risk Account (LRA) set-aside, a performance-based accounts receivable that rewards members for originating quality loans.

Members may also participate in grant and below-market rate loan programs that provide financial assistance for low-income households and communities. The Affordable Housing and Welcome Home programs provide grant funds to members for qualifying residential housing. We also offer reduced rate Advances when used for targeted housing or community investment lending purposes.

We also provide various correspondent services that support the back-office and analytical needs of its members.

Quarterly dividends

All members are eligible to receive a quarterly dividend on all shares of FHLB stock. Each member must maintain a minimum amount of stock in the FHLB based on its asset size (Membership Stock) and use of mission asset programs (Activity Stock), in accordance with the FHLB’s capital plan. Members may also hold stock in excess (Excess Stock) of its Membership and Activity Stock requirement. The dividend rate is determined by the FHLB’s board of directors.

Cooperative partnership

The FHLB conducts various educational meetings, conferences, and webinars for its members on a variety of industry and FHLB topics. The FHLB also serves as an advocate for its members by engaging in various government and media relations activities that increase the public awareness of the successful accomplishments of the partnership with our members.

Membership Applications


Credit Union

Insurance Company

De novo Commercial Bank

Community Development Financial Institution (CDFI)

Housing Associate