As 2022 marks the 90th anniversary of the Federal Home Loan Bank System, FHLBank members are taking the opportunity to express their appreciation for the critical role the banks play in supporting the U.S. economy with liquidity in all economic cycles.
In a column published in American Banker, FHLBank Boston member Julieann Thurlow, vice chair of the American Banker Association and president & CEO of Reading Cooperative Bank in Massachusetts, said the FHLBanks “have been an invaluable and often behind-the-scenes partner … in making communities better and ensuring access to credit for all Americans.”
Thurlow writes that she does not agree with some who call for the FHLBanks to re-examine its mission, describing those opinions as “a short-sighted view that would be akin to removing your furnace in the summer.” Because the scalable business model allows for the banks to expand and contract based on members’ needs, the FHLBanks is a System that works, Thurlow said, adding: “My advice: Don’t mess with success!”
