WASHINGTON, DC, Feb. 20, 2015 (GLOBE NEWSWIRE) -- The FHLBanks' fourth quarter and annual 2014 combined operating highlights released today speak to how well the FHLBanks' congressionally-mandated mission is working, said John von Seggern, President and CEO of the Council of FHLBanks.
[For a copy of the combined operating highlights release, go to www.fhlb-of.com]
"We must keep the nation's community banking sector strong," said von Seggern. "Solid financial performance, as reported in today's release, confirms that the structure guiding the FHLBanks is operating as intended for community institutions."
The FHLBanks' mission is to be reliable sources of liquidity for member institutions in support of housing finance and community lending, according to von Seggern.
"The FHLBanks are an indispensable resource for local lenders," he said. "They continue to produce numbers that demonstrate financial strength and a continuing commitment to the purpose they are designed to carry out."
As cooperatively-owned financial institutions, the FHLBanks measure their success on how efficiently they deliver benefits to their member-owners and how effectively they help those member-owners serve their communities, the chief executive said.
"FHLBank lending and capital grew in 2014 and the benefits of the Banks are flowing to where they're supposed to go," said von Seggern. "The FHLBanks' diverse and robust membership provides access to credit for jobs, housing and economic growth in communities everywhere."
The FHLBanks are independent cooperatives privately capitalized and owned by thousands of financial institutions, of all sizes and many types, in 50 states, the District of Columbia and U.S. possessions and territories. Members include commercial banks, credit unions, thrifts, insurance companies and Community Development Financial Institutions (CDFIs). For more information, visit: www.fhlbanks.com