Federal Home Loan Bank of San Francisco Releases 2024 Impact Report

/EIN News/ -- SAN FRANCISCO, June 04, 2025 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today released its 2024 Impact Report, which shines a spotlight on the privately capitalized cooperative wholesale bank’s daily support for local financial institution members; $103.3 million in grants awarded for affordable housing, homeownership, and economic development; robust engagement with stakeholders; and a workforce empowered to meet the evolving needs of its members with agility and impact.

“Our 2024 Impact Report demonstrates the value we deliver to our members and the communities they serve,” said Joseph Amato, interim president and CEO of FHLBank San Francisco. “Because of the financial services we provide to our members every day – including advances and letters of credit – we are able to invest directly in programs and initiatives that strengthen communities by increasing the supply of affordable housing, expanding access to homeownership, and fueling economic growth and opportunity.”

In 2024, FHLBank San Francisco partnered with its members to award $103.3 million in grants for housing, economic development programs and other initiatives including:

• Affordable Housing Program (AHP) General Fund and Nevada Targeted Fund: $61.3 million in grants awarded to create, preserve, or purchase nearly 3,900 affordable housing units.
• WISH and Middle-Income Downpayment Assistance programs: $31.2 million in matching grants delivered to 791 first-time homebuyers.
• AHEAD economic development grants: $7.3 million in grants awarded to 84 nonprofits to support innovative, community-based economic development initiatives that strengthen local communities.
  

FHLBank San Francisco members also accessed $1.4 billion in the Bank’s discounted advances and letters of credit products to create nearly 1,100 owner-occupied and 2,900 rental housing units and to support other community lending and economic development activities, including funding small business loans.

Together with its members – primarily community-based financial institutions – FHLBank San Francisco continues to make a positive impact across its three-state district of Arizona, California, Nevada, and other areas where its members do business. To learn more about how FHLBank San Francisco accomplishes its mission of providing members with reliable access to liquidity, essential financial services and expertise, and resources for housing and community and economic development, download the full 2024 Impact Report at www.fhlbsf.com.

About Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient.

Contact:
                    Mary Long
                    longm@fhlbsf.com
                    (415) 616-2556
                    
                    Chris Hammond
                    hammondc@fhlbsf.com
                    (415) 616-3763