Select Page

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 highly-rated, congressionally chartered, wholesale bank within the national Federal Home Loan Bank System. The FHLBNY is currently rated “Aaa” and “AA+” by Moody’s and Standard & Poor’s, respectively. These ratings are equivalent to those assigned to the U.S. Government.

As of December 31, 2023:

  • 334 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
  • $158.3 billion in assets
  • 108.9 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 Program® and Affordable Housing Program to aid your CRA efforts
  • 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

Choose your institution type to learn more about your membership opportunities

Key Contacts

Relationship Managers:
(212) 441-6700
[email protected]

Interactive Membership Application Package

Download all the information and required forms for membership.



In order to be eligible for membership, your institution must meet certain requirements.


For more information about membership, visit our Membership FAQs.


Credit Unions

Insurance Companies

Housing Associates

Community Development Financial Institutions