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Home « Community Support Statement »
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.
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