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CUs Aren't Joining FHLBSF to Replace WesCorp

Despite problems in the corporate credit union system, the Federal Home Loan Bank of San Francisco is not reporting an increase in credit unions signing up for membership.

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Despite problems in the corporate credit union system, the Federal Home Loan Bank of San Francisco is not reporting an increase in credit unions signing up for membership.

Stephen Traynor, senior vice president of Financial Services and Community Investment, said that while his FHLB has been a “viable competitor to corporates” for advances, it doesn’t provide any settlement services, investments, or other core corporate services.

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