FEDERAL HOME LOAN BANK ELECTED DIRECTORS
The Bank members choose the elected directors through an annual voting process administered by the Bank. The elective directorships are allocated among the states in each Bank’s district, and the elections are conducted on a state-by-state basis. To be eligible to serve as an elected director, an individual must be either an officer or director of a member that maintains its principal place of business within the Bank district. The member with which each elected director is associated must meet its minimum regulatory capital requirements at all times.
Under the Finance Board's rules (12 C.F.R. part 915), the Banks determine the eligibility of candidates for elected directorships and conduct the annual director election process. To determine eligibility, the Banks use the Federal Home Loan Bank Member Director Eligibility Certification Form. Prospective elected directors may complete the fillable PDF Form electronically or download it and complete it manually. Candidates may attach additonal sheets if they need more space. Candidates should return the completed Form to the appropriate Federal Home Loan Bank.
Once elected, directors annually must certify that they continue to meet all eligibility requirements by completing the Federal Home Loan Bank Member Director Eligibility Certification Form and returning the executed Form to the appropriate Federal Home Loan Bank.