FHLBank Pittsburgh’s e-Newsletter for Legislators and Staff

Rep. Kanjorski Announces Housing Grants for Transitional Housing for Veterans and Young Adults

U.S. Rep. Paul Kanjorski (PA-11) announced that the Federal Home Loan Bank of Pittsburgh (FHLBank) has extended a total of $120,000 in Affordable Housing Program (AHP) grants to create new transitional housing for homeless veterans and young adults in Wilkes-Barre and Plains Township, PA.

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Legislative Update
  • FHLBank Pittsburgh Policy Outlook for 2007
  • GSE Regulatory Reform Outlook
  • Tax Legislation
  • Regulatory Issues

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Blueprint Communities Coming to West Virginia!

Ten West Virginia communities progressing toward renewal have been selected to participate in the 2007 Blueprint Communities leadership and revitalization initiative. Participants will be announced on March 12 at "West Virginia Rising," an event at the state capitol celebrating a new day for community development in West Virginia. Governor Manchin will deliver the keynote address.

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FAST FACT

To date, 391 young people have been educated through ‘My Money, My Life,’ FHLBank Pittsburgh's financial literacy program targeted to at-risk youth. The program is on pace to educate more than 1,000 students aged 16-19 by 2009.

Teamwork by FHLBank Pittsburgh, Member Scores Big With Soccer Fans

Starting a business is never easy. When Eric Pettis began fielding his plans for a pro soccer team in Harrisburg, PA in 2004, he experienced the ‘cold start’ that almost every entrepreneur experiences: initial operating expenses were exceeding revenues. Pettis turned to FHLBank member Pennsylvania State Bank to make his financial goal.

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Three Municipalities Upgrading Their Infrastructure; Local Bank Commits $8 Million with the Help of CLP

How does one community bank meet the needs of three municipal authorities, save local taxpayers money and enhance its own reputation for excellent customer service?

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FHLBank Pittsburgh is a wholesale bank that serves the housing finance and community and economic development needs of its owner-members. FHLBank Pittsburgh provides reliable access to low-cost funds, competitive pricing in the purchase of mortgage loans, correspondent banking, technical assistance, affordable housing grants and other programs so members can better serve their own communities. FHLBank Pittsburgh is privately capitalized and funded, does not use taxpayer dollars, and enjoys a triple-A rating. It currently has 334 members in its district of Delaware, Pennsylvania and West Virginia and approximately $78.3 billion in assets. FHLBank Pittsburgh is one of twelve Banks in the Federal Home Loan Bank System, established by Congress in 1932 to support the residential mortgage activities of local financial institutions.
Copryright 2007 FHLBank Pittsburgh