Bank Services

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Positive Impact

​Our members are achieving success with our banking services. Explore our member success stories.

Professional, Convenient and Affordable

At FHLBank Pittsburgh, members realize affordability, convenience and flexibility by subscribing to our robust menu of banking services.

While several services are essential for conducting business with us, others are optional. Members have the flexibility to mix-and-match elective services with the required offerings to achieve cost savings.

Bank Services Benefits

Members realize substantial benefits from our menu of services, including:

  • Safety and security is built into those transactions conducted via Bank4Banks®, our secure electronic banking channel
  • Ease of use and reliability with easy set up and online access via Bank4Banks, plus personalized service from expert staff during business hours (i.e., 7:30 a.m. - 5:00 p.m.)
  • Cost efficient, affordable pricing with cost savings that result from our economies of scale
  • Transparent pricing with no hidden fees
  • Flexible options to fit member needs

Rather than securing these services on their own, our members can leverage our outstanding service and cost savings by using our products.

Services Menu

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.

These services include a range of Fedwire and Automated Clearing House (ACH) settlement services that facilitate our members' ability to securely and efficiently move funds between their FHLBank Pittsburgh DDAs and external accounts. The wire transfers, which include third-party transactions, can be domestic and international (i.e., in U.S. or foreign currencies).

We process hundreds of wire transfer and ACH settlement activities on our members' behalf every day, moving billions of dollars through the Fedwire system account. Our experienced professional staff uses state-of-the-art technology and members benefit from regulatory compliance monitoring. Combined with centralized, real-time reporting of account activity and balances via Bank4Banks, members are provided with effective tools to manage cash flows.

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. We settle fund-related transactions for certified checks that are processed through MoneyGram® (i.e., Official Check Settlement).

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