Credit Unions Benefiting
from FHLBNY Membership
The number of our credit union members has doubled since the start of the financial crisis.
Click the maps to view our credit union members
NJ CU Members
NY CU Members
Fulfill your credit union’s business strategies, meet the needs of your members, and stay competitive in a complex market.
Our partnership provides a strong foundation that supports your relationship with your members. Our members are shareholders — your business empowers the FHLBNY to continuously offer competitively priced products and services to benefit all our members’ bottom line.
- Reliable, competitive, and flexible funding options for all market conditions
- Strength of a triple-A-rated wholesale lender — the highest rating in the industry
- Attractive cash dividends*
- Innovative mortgage participation, funding, and purchase options to access the
- Community growth products and affordable housing grant programs to assist in meeting economic and community development needs
- Deposit products for your excess funds
- Diverse team specializing in the challenges unique to credit unions, offering support with hedging strategies and market insights to help execute your strategic plans
- Educational resources
*Note: There is no guarantee that the level of future dividends will reflect the level of previous dividend payouts.
Advance Terms Used by Your Peers Data as 6/30/14
*Advances collateralized by investment securities.
Reliable, Flexible Funding for a Competitive Edge
Whether you’re looking to fulfill your business strategies, or meet the needs of your members and regulators, the FHLBNY has funding tools to help your credit union stay competitive in a complex market.
All financial institutions are required to have access to wholesale liquidity in order to carry out their operations. This could range from paying near-term obligations to making long-term strategic investments. Don’t get caught without a contingent liquidity source — make the FHLBNY your lender of first resort.
The strength of the FHLBank System, combined with its access to global debt markets, affords us the ability to offer:
- Highly competitive borrowing rates
- Short- and long-term, flexible funding
- Wide varieties of maturities and structures
Learn about funding tools for credit unions.
Letters of Credit (L/Cs)
L/Cs provide liquidity by serving as a competitively-priced, alternate form of collateral giving you the opportunity to build solid relationships within the community while allowing you to focus on building your balance sheet. Leverage the FHLBNY’s triple-A credit rating to offer improved terms, giving you the flexibility to win more business.
- Helps manage asset/liability positions
- Improves bond-related transaction costs
- Allows smaller lenders to compete with larger institutions and grow fee income
- Presents financing opportunities for projects that support housing and community economic development
Opportunity for NJ Credit Unions — Municipal Letters of Credit (MULOCs)
Credit unions are now eligible to act as public depositories under New Jersey law, and therefore are able to use our MULOC product. MULOCs are a more efficient way to use capital to generate higher returns. Using this type of Letter of Credit frees up your institution’s assets for liquidity reporting or other lending purposes that provide a higher yield.
› Learn more about L/Cs and MULOCs
The MPF Program Features:
- No adverse market loan fees to pass along to your members
- No loan level price adjustments
- No matter the volume, you receive the same pricing as all participating institutions
Secondary Market Opportunity — Earn Fee Income for the Loans You Originate
As a member, you have access to the Mortgage Partnership Finance® (MPF®) Program — an alternate way for you to fund mortgages and be competitive in offering fixed-rate mortgage loan products creating additional flexibility for the balance sheet.
Unlike other secondary outlets, the FHLBNY manages the interest rate, liquidity, and prepayment risks, while paying you fees over time for taking on a portion of the credit risk.
We offer two different MPF conventional loan products, allowing members to choose the extent of credit risk they are comfortable with. Want to sell your mortgage originations to secondary market investors?
› Learn more about the MPF Program
For an overview, download the MPF fact sheet.
The "MPF" logo, "Mortgage Partnership Finance," "MPF" are registered trademarks of the Federal Home Loan Bank of Chicago.
Correspondent Services to Keep Expenses in Check
Our services are fully integrated, attractively priced and flexible. In addition, they do not require compensating or reserve balances.
"Hard dollar" interest is issued on all collected balances, instead of earnings credits, as is the case with many correspondent banks.
- Deposit Programs
- A secure Internet Banking System (1Linksm)
- Funds Transfer
- Securities Safekeeping
› Learn more about our Correspondent Services
Resources Available to Members
As part of our commitment to your success, we offer resources for beneficial insight and education.
- Workshops and webinars specific to credit unions
- Strategic periodical publications and calculative tools to help determine your specific funding needs
- Custom education programs designed specifically for your directors and managers
› Visit our Resource Center
As a member you gain access to a team of specialists dedicated to the needs of credit union members, who focus on specific regions to help each credit union strategize on ways to thrive within the local communities they serve.