"The floods of 2008 devastated our community with some parts of Cedar Rapids considered unrecoverable. Our bank is only as strong as the community it serves and that makes us committed to rebuilding the community and getting businesses thriving again."
Gary M. Becker, Senior Vice President,
Cedar Rapids Bank and Trust
Cedar Rapids Bank and Trust
Cedar Rapids, Iowa, was among the locations most significantly impacted by the catastrophic floods along the Cedar River in the summer of 2008. Since the flood, Federal Home Loan Bank of Des Moines (FHLB) member, Cedar Rapids Bank & Trust, is helping many flood-affected individuals and businesses recover by providing financing for repair or reconstruction.
To support this effort, Cedar Rapids Bank & Trust secured $3.2 million through FHLB’s Investment Advance Program. These funds have been used to provide low rate loans, which have been primarily used by downtown businesses and building owners as they work to reopen their doors. Together, banks and communities are showing that dedication and solidarity can help overcome any disaster.
The Council of FHLBanks
The Council of Federal Home Loan Banks (FHLBanks) is the public voice of the FHLBank System. Incorporated in 1998, the non-profit trade association is based in Washington, DC. The Council’s primary function is to represent the positions and views of the Council’s members to Washington policymakers.
The Council consists of director and officer representatives of all 12 FHLBanks. Each member bank may name up to three individuals to sit on the Council's Board of Representatives.
The Council’s mission is spelled out in its articles of incorporation. These articles mandate that the Council:
- Encourage and promote cooperation and consensus building among the FHLBanks
so that their common legislative and regulatory interests may be served. - Promote enactment of laws and regulations beneficial to the FHLBanks and oppose detrimental laws and regulations; obtain research as is necessary for such
promotion or opposition. - Enhance awareness and understanding of the FHLBanks among Washington leaders, including members of Congress and their staffs, executive departments, regulators
and trade associations and the financial media.
© , Council of Federal Home Loan Banks