NeighborWorks Capital has joined the Federal Home Loan Bank of Atlanta (FHLBank Atlanta), a cooperative of eligible commercial banks, credit unions, savings institutions, community development financial institutions (CDFIs), and insurance companies that offers competitively-priced financing, as well as affordable housing and community development grants.
“We are delighted to announce our partnership with FHLBank Atlanta,” said Jim Peffley, Chief Executive Officer of NeighborWorks Capital. “This membership enables us to access stable, reliable, and low-cost funding and other banking services to further support the needs of our customers, pursue advances, and broaden our liquidity management tools,” he said.
As a member of FHLBank Atlanta, NeighborWorks Capital can access several important banking services, including:
- Competitively-priced funding
- Products to mitigate interest-rate risk
- A stable and reliable source of funds
- Affordable Housing Program (AHP) funding
- Securities safekeeping
- Flexible borrowing terms
“NeighborWorks Capital has a longstanding commitment to supporting affordable housing, which is a mission directly aligned with ours,” said Scott Brennan, Senior Vice President and Director of Sales for FHLBank Atlanta. “We look forward to partnering with NeighborWorks Capital as a new member and working together to achieve a greater impact and benefit households and communities across the country,” he said.
NeighborWorks Capital becomes the 14th CDFI to join the FHLBank Atlanta cooperative. FHLBank Atlanta is one of 11 Federal Home Loan Banks within the FHLBank System, each of which provides a reliable source of competitively-priced funding to member institutions within their geographic districts. The FHLBanks also work with members to support affordable housing and community development through grant funding to help people and communities thrive.
About NeighborWorks Capital
NeighborWorks Capital is a national non-profit, certified Community Development Financial Institution (CDFI) serving NeighborWorks America network organizations, nearly 250 strong, capable nonprofit housing and community development organizations in every state, District of Columbia, and Puerto Rico. These organizations provide communities with affordable housing, financial counseling, training, and resident engagement in the areas of housing, health, employment, and education. Since its inception, NeighborWorks Capital has deployed over $500 million in loan capital to support the NeighborWorks network. In 2023, NeighborWorks Capital received its first-ever S&P Global issuer credit rating of A+/Stable, sighting key strengths in capital adequacy, profitability, liquidity, and financial management. The organization has been Aeris-rated since 2011 and has an AA- financial strength and performance rating, indicating strong financial capability, performance, and risk management practices. For more information, visit: https://neighborworkscapital.org/
About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank is a cooperative whose members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district Banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $7.6 billion in Affordable Housing Program funds, assisting more than one million households. For more information, visit our website at www.fhlbatl.com.
