About Membership
Create Opportunities that Strengthen your Communities
To use the FHLBNY’s credit, housing and community development, mortgage finance, and correspondent programs and services, a financial institution must first become a member. Regulated financial institutions, including savings banks, savings and loan associations, commercial banks, credit unions, insurance companies and community development financial institutions located in New Jersey, New York, Puerto Rico or the U.S. Virgin Islands may apply for membership.
When an institution’s application is approved, it must purchase capital stock. The stock may pay a quarterly dividend as determined by FHLBNY’s Board of Directors.
About Us: Strength in Numbers
The FHLBNY is a triple-A-rated, congressionally chartered, wholesale bank within the national Federal Home Loan Bank System.
As of June 30, 2019:
338 member institutions including commercial banks, thrifts, credit unions, community development financial institutions, housing associates and insurance companies in New York, New Jersey, Puerto Rico and the U.S. Virgin Islands
$150.6 billion in assets
$102.4 billion dollars in advances
Members of the FHLBNY have access to a number of unique benefits:
Reliable, low-cost funding to meet your liquidity needs
Fixed- and floating-rate advance products and derivative products with flexible terms and maturities to assist your interest rate risk management
Community Investment, Rural and Urban Economic Development Advances, Homebuyer Dream ProgramTM and Affordable Housing Program to aid your CRA efforts
Triple-A-rated letters of credit to secure various obligations, which include municipal deposits, bond issues and private placements
Deposit products for your excess funds
Innovative mortgage participation, funding and purchase products to enhance your competitive position
High-quality correspondent services to meet your daily operating needs
A community-building partner that understands the needs of members and offers financial strength, quality service and competitive pricing
Interactive Membership Application Package
Download all the information and required forms for membership.
For more information about membership, visit our Membership FAQs.
Eligibility
In order to be eligible for membership, your institution must meet certain requirements.
Choose your institution type to learn more about your membership opportunities

Banks
Credit Unions
Insurance Companies
Housing Associate Certification
Community Development Financial Institutions
Interactive Membership Application Package
Download all the information and required forms for membership.
For more information about membership, visit our Membership FAQs.
Eligibility
In order to be eligible for membership, your institution must meet certain requirements.