ATLANTA-The Federal Home Loan Bank of Atlanta, one of 12 district banks in the Federal Home Loan Bank System that provides low-cost financing and other banking services to financial institutions, has announced that five credit unions have become members and stockholders. These include: National Institutes of Health Federal Credit Union, Rockville, Md.; GTE Federal Credit Union, Tampa; Postal & Professional Credit Union, Sunrise, Fla.; University Federal Credit Union; and Sloss Federal Credit Union, both in Birmingham, Ala. After Congress several years ago expanded membership eligibility in the Federal Home Loan Bank System (established in 1932 to offer credit at competitive rates to support economical home financing) to include credit unions, thrifts and commercial banks, credit unions have joined to take advantage of these services, said spokeswoman Asia Grimes. The Federal Home Loan Bank System of Atlanta is a $43 billion stockholder-owned reserve credit bank that provides low-cost financing and other banking services to more than 900 financial institutions that offer housing financing to consumers in Alabama, Florida, Georgia, Maryland, Virginia, District of Columbia and North and South Carolina.
Five CUs join Federal Home Loan Bank of Atlanta
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