Three New Members Join FHLBank Pittsburgh in the Second Half of 2018
PITTSBURGH--(BUSINESS WIRE)--Jan 2, 2019--The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today that, in the second half of 2018, three new members joined the Bank’s cooperative of commercial banks, credit unions, insurance companies, community development financial institutions and thrifts in Delaware, Pennsylvania and West Virginia. The variety of member types contributes to FHLBank’s strength and flexibility for its membership and has a positive impact on a wide range of local communities.
“We are pleased to continue adding to the diversity of our cooperative,” said Winthrop Watson, President and Chief Executive Officer. “We welcome these new members into the Bank and look forward to serving their liquidity, housing finance and community lending needs.”
As FHLBank members, Arch Reinsurance Company, Community Powered Federal Credit Union and Technology Insurance Company, Inc. may now access FHLBank’s suite of financial services. This includes cost loans (advances), which may be used for community development lending, asset/liability management and general funding.
About Arch Reinsurance Company
Arch Reinsurance Company (Arch Re) is a leading diversified reinsurer, with operations in most major global insurance centers. Arch Re offers treaty and facultative property and casualty reinsurance on a worldwide basis, including property catastrophe, property, liability, marine, aviation and space, trade credit and surety, agriculture, accident, life and health, and other specialty lines of coverage such as terrorism and political risk. For more information about Arch Re, visit www.archcapgroup.com/reinsurance.
About Community Powered Federal Credit Union
DPL Federal Credit Union opened in 1962 to serve employees of the Delmarva Power & Light Company. In 2009, the organization changed its name to Community Powered Federal Credit Union and expanded its membership to offer financial services to anyone who lives, works, worships or goes to school in New Castle County, Delaware, above the Chesapeake and Delaware Canal. To learn more about Community Powered FCU, visit www.cpwrfcu.org.
About Technology Insurance Company, Inc.
Technology Insurance Company, Inc. is a wholly owned subsidiary of AmTrust Financial Services, Inc., which offers specialty property and casualty insurance products – including workers’ compensation, commercial automobile, general liability and extended service and warranty coverage – through its primary insurance subsidiaries. For more information about AmTrust, visit amtrustfinancial.com.
About FHLBank Pittsburgh
As an intermediary between global capital markets and local lenders, FHLBank Pittsburgh provides readily available liquidity, as well as affordable housing and community development opportunities, to member financial institutions of all sizes in Delaware, Pennsylvania and West Virginia. The Bank is part of the Federal Home Loan Bank System, which was established by Congress in 1932 and serves as a reliable source of funds for housing, jobs and growth in all economic cycles. To learn more, visit www.fhlb-pgh.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190102005330/en/
Richard J. Stimel, FHLBank Pittsburgh, 412-288-7351,firstname.lastname@example.org
KEYWORD: UNITED STATES NORTH AMERICA DELAWARE PENNSYLVANIA WEST VIRGINIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE INSURANCE OTHER PROFESSIONAL SERVICES CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: FHLBank Pittsburgh
Copyright Business Wire 2019.
PUB: 01/02/2019 09:17 AM/DISC: 01/02/2019 09:17 AM