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Community Support Statement

Member financial institutions of FHLBank Pittsburgh must adhere to community support standards established by the FHLBank Act, as amended. These standards take into account each member's performance under the Community Reinvestment Act (CRA) of 1977 and the member's record of lending to first-time homebuyers. To retain access to FHLBank long-term credit, members are required approximately every two years to document their community support activities by submitting a Community Support Statement (CSS) to the Federal Housing Finance Board.

Each calendar quarter, the Finance Board selects a list of FHLBank members to review, which is published in the Federal Register. Click here (pdf) to view the current list. The selected members, including credit unions and insurance companies, must complete and submit a CSS to the Finance Board. Members subject to CRA must meet both the CRA standard and the first-time-homebuyer standard. Members with a CRA rating of "outstanding" or "satisfactory" will meet the CRA standard. Members, including credit unions and insurance companies, not subject to CRA must meet only the first-time-homebuyer standard. Any member not responding to the first-time-homebuyer standard will be restricted from access to FHLBank long-term advances.

Members selected for the 2008-09 first round review cycle are being notified, and must complete and submit their CSSs by May 30, 2008, to:

Federal Housing Finance Board
Office of Policy, Compliance Assistance Division
1625 Eye Street NW
Washington, DC 20006-4001
Attn: Emma Fitgerald
Fax: 202-408-2995

E-mail: fitzgeralde@fhfb.gov

Interested individuals or organizations may also submit comments on members under review. To view or download the regulations and/or the CSS form and instructions, click here.