Robust FHLB system necessary for credit union participation
Published by: Emily Leite
June 24, 2020 | Government Affairs, Regulatory
With more than 80 Ohio credit unions utilizing the Federal Home Loan Bank (FHLB) of Cincinnati for liquidity and community investment needs, it is vital that any changes to FHLB membership standards uphold robust safety and soundness standards. To avoid diluting credit union access or diminishing cooperative financial institution membership in the FHLB system, the League responded to the Federal Housing Finance Agency’s (FHFA) recent request for input (RFI) to ensure membership expansion, secured liquidity, and equal access principles are sustained in any upcoming FHFA rulemaking efforts. Ensuring that credit union membership access and full participation in the FHLB System is preserved and protected, especially as financial cooperatives navigate the present health and financial crises, is an important contributor to the personal and economic recovery of Ohioans.
Please read the full comment letter for additional details. If you have any questions or concerns about FHLB membership, please contact League Regulatory Counsel Chris Noble.
T: (614) 923-9762
C: (614) 448-6237