[CircleUp] OFN Summary: FHLB Membership for CDFIs

[Heidi Davis]

From: Cheryl Neas [mailto:cneas at OpportunityFinance.net] 
Sent: Friday, January 08, 2010 8:11 AM
To: Cheryl Neas
Subject: OFN Summary: FHLB Membership for CDFIs

 

Late last year, the Federal Housing Finance Agency released final
regulations implementing a legislative provision OFN championed that
opened Federal Home Loan Bank (FHLB) membership to certified CDFIs.
Attached to this email is a summary of those regulations. 

 

This information does not cover every detail of the regulations;
instead, it is intended to assist your CDFI in determining if membership
in the appropriate FHLB is an opportunity for you.

 

If you determine that your CDFI would like to pursue this opportunity,
please contact me as soon as possible. OFN can help you assess how
favorable the FHLB in your region is toward CDFI membership and assist
you in working with the FHLB. We will help CDFIs exchange "best
practices" in working with FHLBs as well as facilitate CDFIs in the same
FHLB territory coordinating their efforts.

 

Thank you for your help and support in achieving this important new step
in CDFIs' access to capital! If you have additional questions, please do
not hesitate to contact me.

 

Cheryl Neas

Senior Vice President, Policy Development

Opportunity Finance Network

215.320.4309

www.opportunityfinance.net

 

Celebrating 25 years of opportunity finance!

 

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