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Banks & Thrifts

Be Part of Our Legacy

Our banking sector makes up 47% of our member base and has long since enjoyed the benefits of membership with the Federal Home Loan Bank of New York (FHLBNY). We take pride in actively building upon this partnership through elevated engagement via our many educational programs and strategy sessions designed to help members achieve asset growth, enhance efficiencies and drive bottom-line earnings and capital. We look forward to our expanding partnership and to continuing to serve as a stable, strong, and reliable partner as we work toward shared success.

Key Benefits of Membership

  • Trusted source for on-demand access to liquidity
  • 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
  • Secondary mortgage market program
  • 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

FHLBNY member institutions span several types—varying asset sizes, business models and areas of focus. Though each institution’s goals are unique, we are all bound by a shared commitment to the communities we serve.

Join your counterparts and become a part of the FHLBNY legacy!

As of June 30, 2025, the FHLBNY has:

  • 99 Commercial Bank Members
  • 58 Thrift Bank Members
  • $59.58 Billion in Advances to Banks
Contact a dedicated Relationship Manager that will help determine your institution’s membership needs at (212) 441-6700.

Determine Your Eligibility

To check if your institution is eligible for membership with the Federal Home Loan Bank of New York, please complete the Preliminary/Eligibility Worksheet below. We also recommend reviewing the Application Checklist below to familiarize yourself with the requirements before applying. A completed worksheet is required for membership.
  • HLB-005
    Commercial Banks and Thrift Institutions Eligibility Worksheets xlsx

Membership Application Checklist

The following is a list of forms, applications and documents that are required for membership at the FHLBNY.

Please submit the following documents required for membership application:

  1. Original FHLBNY Membership Application.
  2. Original Membership Forms & Agreements (refer to HLB-100).
  3. Copy of Charter/Organization Certificate/Certificate of Authority. If applicable, copy of Certificate(s) of Name Change. Copies of Certificate of Incorporation and CDFI Fund Certification for state-chartered non-NCUA insured CDFI credit unions, CDFI loan fund or CDFI venture capital fund. If the CDFI Fund Certification is more than 3 years old, provide a written statement, on your letterhead, attesting that there have been no material events or occurrences since the date of certification that would adversely affect your strategic direction, mission or business operations.
  4. Preliminary Worksheets for applicants that do not file a FFIEC Call Report. In addition, insurance companies should also provide the latest NAIC authorized control level risk-based capital requirements and ratio. CDFIs should provide regulatory financial reports.
  5. Latest two Audited Financial Statements. If Audited Financial Statements are unavailable, submit the following, in the order of preference:
    1. CPA conducted Directors’ Examination;
    2. External Auditors’ Review of Financial Statements;
    3. External Auditors’ Compilation of Financial Statements;
    4. Independent Accounts’ Report on Applying Agreed-Upon Procedures. If applicable, Management Letter and Response. If applicable, holding company’s Annual Report, Forms 10-K and 10-Q.
  6. Depository institutions must have a minimum 3 composite rating to apply for membership.
  7. If applicable, provide Community Reinvestment Act Performance Evaluation, if unavailable, informal or preliminary CRA performance evaluation.
  8. If you are not subject to the CRA or do not have a satisfactory CRA rating, provide a home financing policy written justification, on your letterhead, detailing the following:
    • How and why your home financing policy is consistent with the FHLB System’s housing finance mission; and
    • How and why your home financing credit policy and lending practices meet the credit needs of your community.
  9. Please provide the name of the regulatory contact and their e-mail address for FHLBNY to confirm nonobjection to applicant becoming an FHLBNY member.
  10. If you intend to pledge mortgages as collateral, submit loan data through FHLBNY File Transfer Service.
  11. If your charter approval date is within 3 years of the date we receive your application, provide the following:
    • Business Plan for Charter Application; and
    • Makes long-term home mortgage loans written justification, on your institution’s letterhead, detailing specifically how your home financing credit policy and lending practices include originating or purchasing home mortgage loans with a term to maturity of 5 years or greater
  12. If you were involved in a significant merger in the last 6 quarters, provide combined regulatory financial reports. If the merger is expected in the next 2 quarters, provide pro forma combined financial statements.
  1. Original FHLBNY Membership Application.
  2. Original Membership Forms & Agreements (refer to HLB-100).
  3. Copy of Charter/Organization Certificate/Certificate of Authority. If applicable, copy of Certificate(s) of Name Change. Copies of Certificate of Incorporation and CDFI Fund Certification for state-chartered non-NCUA insured CDFI credit unions, CDFI loan fund or CDFI venture capital fund. If the CDFI Fund Certification is more than 3 years old, provide a written statement, on your letterhead, attesting that there have been no material events or occurrences since the date of certification that would adversely affect your strategic direction, mission or business operations.
  4. Preliminary/Eligibility Worksheets for applicants. In addition, insurance companies should also provide the latest NAIC authorized control level risk-based capital requirements and ratio. CDFIs should provide regulatory financial reports.
  5. Latest two Audited Financial Statements. If Audited Financial Statements are unavailable, submit the following, in the order of preference: 1) CPA conducted Directors’ Examination; 2) External Auditors’ Review of Financial Statements; 3) External Auditors’ Compilation of Financial Statements; 4) Independent Accounts’ Report on Applying Agreed-Upon Procedures. If applicable, Management Letter and Response. If applicable, holding company’s Annual Report, Forms 10-K and 10-Q.
  6. If applicable, provide management response to the latest Safety and Soundness Examination Report.
  7. If applicable, provide Community Reinvestment Act (CRA) Performance Evaluation, if unavailable, informal or preliminary evaluation.
  8. If you are not subject to the CRA (insurance companies, credit unions and non-depository CDFIs), please provide the following two documents (collectively known as the Home Financing Policy):
      1. Housing, community and economic development nexus document, on company letterhead: include excerpts from any lending and/or investment policies or other applicable policies. Provide copies of any lending and investment policies with the membership application package.
      2. Written justification letter, on company letterhead: include quantities/amounts of the different categories that are detailed in the home financing policy document (mortgage lending, investments, insurance products, educational resources or charitable contributions, etc.) that are applicable to your institution.
  9. Please provide the name of the regulatory contact and their e-mail address for FHLBNY to confirm nonobjection to applicant becoming an FHLBNY member.
  10. Member Attestation Form – to be sent electronically by FHLBNY to applicant. Once completed, applicant can return form electronically.
  11. If your charter approval date is within 3 years of the date we receive your application, provide the following:
      1. Business Plan for Charter Application; and
      2. Makes long-term home mortgage loans written justification, on your letterhead, detailing specifically how your home financing credit policy and lending practices include originating or purchasing home mortgage loans with an original term to maturity of 5 years or greater.
  12. If you were involved in a significant merger in the last 6 quarters, provide combined regulatory financial reports. If the merger is expected in the next 2 quarters, provide pro forma combined financial statements.

For assistance, please contact a Relationship Manager at (212) 441-6700.

Key Contacts

Relationship Managers
(212) 441-6700

FHLBNY@fhlbny.com

Interactive Membership Application Package

Download all the information and required forms for membership.

Eligibility

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

For more information about membership, visit our Membership FAQs.