ATLANTA, Jan. 30, 2025 (GLOBE NEWSWIRE) -- The board of directors of the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today approved a cash dividend for the fourth quarter of 2024 at an annualized rate of 7.10 percent. “Throughout the fourth quarter of 2024, our commitment to helping members through economic uncertainty and advancing our mission remained steadfast,” said FHLBank Atlanta Chair of the Board, Thornwell Dunlap. “Our strong financial performance reflects this dedication, allowing us to return a competitive dividend to our members.” The dividend payout will be calculated based on members’ capital stock held during the fourth quarter of 2024 and will be credited to members’ daily investment accounts at the close of business on February 5, 2025.
The dividend declaration supports the FHLBank Atlanta's mission to provide financial assistance during challenging economic times. This institution plays a pivotal role for its members by supplying competitively-priced financing, community development grants, and other banking services to help make affordable home mortgages accessible.
Meanwhile, the Federal Home Loan Bank of New York (FHLBNY) confirmed the approval of grants totaling $11 million for affordable housing projects across Puerto Rico, aiming to support 726 housing units in areas including Caguas, Lajas, Lares, San Juan, and Bayamón. “The PRBA supports this initiative by the Federal Home Loan Bank of New York, which aims to contribute to improving the affordable housing situation and its availability on the island,” noted Zoimé Álvarez-Rubio, president of the Puerto Rico Bankers Association (PRBA).
José Ramón González, the CEO of FHLBNY, emphasized the bank’s dedication to increasing collaboration with community organizations, stating, “The Federal Home Loan Bank of New York is proud to have been able to increase its collaboration with community organizations in Puerto Rico.” This initiative reflects FHLBNY’s broader commitment to support the affordable housing sector and the economic development of low- and moderate-income communities.
On the operational side, the Federal Home Loan Bank of Dallas (FHLB Dallas) welcomed Daniel Boggs to its Affordable Housing Advisory Council. Representing Mississippi, Boggs has led the Greater Greenville Housing & Revitalization Association since 2012, focusing on economic development and housing challenges. “I am deeply honored to be appointed to the FHLB Dallas Affordable Housing Advisory Council. Affordable housing is a cornerstone of community development, and I am eager to contribute my experience and insights,” Boggs stated, reflecting his passion for addressing housing issues.
Another significant appointment was made with Isaac Perez, who was assigned to the new tribal housing position on the Advisory Council. With over 25 years of experience working with Native American communities, he expressed gratitude for the opportunity, saying, “It is with great honor... I look forward to bringing more than 25 years of experience working with Native American communities.” His extensive expertise aims to influence housing policies positively on tribal lands.
Notably, FHLBank San Francisco also experienced leadership changes as Alanna McCargo transitioned from her role as President and CEO to become Special Policy Advisor. The board appointed Joseph E. Amato as interim President and CEO, as they initiate the search for McCargo’s successor. Her previous tenure included significant contributions to various housing policy initiatives during her time at Ginnie Mae and the U.S. Department of Housing and Urban Development. "Her insights and strategic guidance will be invaluable as we continue to support our members and partners,” remarked Board Chair F. Daniel Siciliano.
FHLBank San Francisco’s focus remains on ensuring their members have the liquidity and resources to serve their communities effectively. The continuing efforts of all FHLBanks reflect the institutions' commitment to enhancing housing affordability and supporting under-resourced communities across the country.
The collective actions taken by the Federal Home Loan Banks demonstrate their pivotal role not only as financial entities but also as anchors for community support and development. These appointments and initiatives signify their proactive measures to tackle pressing housing issues and improve the overall economic well-being of the communities they serve.