At FHLBank Pittsburgh, members realize affordability, convenience and flexibility by subscribing to our robust menu of bank services.
Members realize substantial benefits from our menu of services, including:
Rather than securing these services on their own, our members can leverage our outstanding service and cost savings by using our products.
A Demand Deposit Account (DDA) is a required cash account that facilitates a member's ability to do business with us. Additionally, we offer specialized accounts that improve our members' ability to manage their business lines and cash flows. Our team effectively and efficiently manages hundreds of DDAs with an average total balance of over $1 billion. All member transactions, including deposits, Fed settlements, advances, safekeeping, automated clearing house and wire transfer activity, are posted to the member's DDA each business day. Resulting balances are an integral part of each member's cash management tools.
Reliable and competitively priced, our members have access to highly competent securities custodial services through JP Morgan, an industry leader in the custodial business. We process a full range of custodial services for book entry and physical securities, including: purchases, sales, transfers, principal and interest payments as well as security pledges. Members may set up any number of safekeeping accounts to satisfy their pledging and contractual requirements.
To provide flexibility for member settlement activities such as deposit, in-clearing items and other miscellaneous transactions, this service offers financial settlement, credit of availability and reconciliation of all member activities for which we are the primary correspondent. FHLBank Pittsburgh maintains accounts with multiple financial institutions, including several Federal Reserve Banks (FRB).
Members gain access to FRB settlement services using our FRB account to settle check collection, currency/coins, loans, savings bonds and other FRB activities.