FHLBank members include thrift institutions, commercial banks, credit unions, and insurance companies. A financial institution joins the FHLBank district that serves the state where the institution's home office or principal place of business is located. A financial institution may become a member by meeting certain statutory requirements:
• be duly organized under the laws of any state of the United States;
• be subject to inspection and regulation under the banking laws, or similar state or federal laws;
• make long-term home mortgage loans;
• have at least 10 percent of its total assets in residential mortgage loans, if it is a federally insured depository institution (community financial institutions which are exempt from this requirement);
• have a financial condition that allows FHLBank advances (loans) to be made safely;
• have character of management and a home financing policy consistent with sound and economical home financing.
Each member of the FHLBank is required to maintain a minimum investment in the stock of the FHLBank. The minimum investment is established by each FHLBank, and the sum of the stock investment by all members must be sufficient for the FHLBank to meet its own minimum capital requirement. Contact the FHLBank for more information concerning minimum stock requirement.