Media Center | Press Releases « 2004 Press Releases »

2004 Press Releases

FOR IMMEDIATE RELEASE

Contact:  Neil Cotiaux, FHLBank of Pittsburgh: 412-288-2851;               Neil.cotiaux@fhlb-pgh.com

FHLBANK NAMES THREE COMMUNITY LEADERS TO AFFORDABLE HOUSING COUNCIL; WILL ADVISE BOARD OF DIRECTORS ON HOUSING NEEDS OF LOWER-INCOME FAMILIES

PITTSBURGH, PA, December 16, 2004 — The Federal Home Loan Bank of Pittsburgh (FHLBank) has tapped three regional leaders in affordable housing as members of its Affordable Housing Advisory Council.

Gloria Guard, president of the People's Emergency Center in Philadelphia; Lamont McClure, executive director of the Carbon County Housing Authority; and Brenda Wells, director of the Western Pennsylvania Region of the Pennsylvania Housing Finance Agency (PHFA), were named to the 15-member Council for initial three-year terms. The trio will assist the FHLBank's Board of Directors in identifying the housing needs of lower-income families and households, and advise the Board on the use of Bank resources that support affordable housing and community development programs across Delaware, Pennsylvania and West Virginia. In addition, the Council supports the Bank by helping to identify and build strategic partnerships in the communities it serves.

With assets of $59 billion, the FHLBank of Pittsburgh serves nearly 350 financial institution members in three states. It is one of twelve FHLBanks, all private cooperatively owned banks that provide wholesale housing finance, community lending and correspondent banking services to member banks, savings institutions, credit unions and insurance companies. The FHLBank System remains the country's largest source of housing credit.

Since 1990, the FHLBank of Pittsburgh has awarded more than $121 million in grants and low-interest loans through its Affordable Housing Program (AHP) and Home Buyer Equity Fund (HBEF) across its three-state service area, benefiting more than 22,000 families and individuals.

"We're delighted that these preeminent leaders in the field of affordable housing have agreed to share their time and talent and advise us on the issues of homelessness, affordability, neighborhood deterioration and blight," said Council Chair Charles Scalise, executive director of Housing and Neighborhood Development Service (HANDS) of Erie. "Their active involvement with the Council will assist the Bank in its ongoing mission to provide safe, decent, affordable housing to those in need."