PHOENIX — The $1.1 billion Arizona State Credit Union said this week it is getting a payoff on liquidity and balance sheet management plus winning development grants by being a member of the Federal Home Loan Bank of San Francisco.

“As we grow our loan portfolio and our loan-to-deposit ratio increases, accessing bank advances enables us to add efficiency and profitability to our organization,” explained David Doss, president/CEO in outlining advantages as a “strategic partner” of the thrift agency.

Doss' comments came as the FHLB itself highlighted the Phoenix CU and two other financial institutions in its annual report. In a press statement, Arizona State noted that it was “was one of three members featured in the publication and the only credit union” and also contained Doss comments in an article on ways the FHLB “reaches out to assist member institutions.”

Apart from using the agency's financing vehicles, the FHLB, said Doss, has also proved useful in product development and obtaining two separate grants in communities where it has branches. They include a $600,000 affordable housing grant and a $25,000 worker training grant in Tucson.

“We are so very pleased to be able to pass through to our communities this additional benefit of bank membership,” Doss concluded.