To take advantage of the Federal Home
Loan Bank of Boston's flexible credit, community-development
and mortgage-finance products, a financial institution must
first become a member of the Bank.
Benefits of Membership
Membership in the Federal Home Loan Bank of Boston offers:
- Reliable low-cost credit products
- Innovative asset-purchase programs
- Discounted funding for affordable-housing and economic-development
- Highly rated letters of credit
- Highly rated deposit products
- High quality correspondent services
- Dividends on capital stock
Only regulated financial institutions including savings
banks, savings and loan associations, cooperative banks, commercial
banks, credit unions, insurance companies, and community development financial institutions (CDFI) headquartered
in Connecticut, Maine, Massachusetts, New Hampshire, Rhode
Island, and Vermont may apply for membership.
To be eligible for membership, a financial institution must
also meet all of the following criteria:
- It is duly organized under federal, state, or tribal laws.
- It is subject to inspection and regulation under the banking
laws, or similar laws, of any state or federal regulatory
agency, or to certification by the CDFI Fund.
- It originates or purchases long-term home-mortgage loans.
A long-term home-mortgage loan is defined as a home-mortgage
loan with a maturity of five years or more.
- Its financial condition is such that advances may be safely
- The character of its management and home-financing policy
is consistent with sound and economical home financing.
- For an institution with assets greater than $1.029 billion,
at least 10 percent of its total assets are in residential-mortgage
loans or related assets.
When an institution's application is approved, it must purchase capital
stock. The Bank's capital stock carries a fixed par value
of $100 per share and pays a quarterly dividend determined
by the Federal Home Loan Bank of Boston's board of directors.
For more information, contact Vicki Benson, membership applications manager,
at firstname.lastname@example.org or