Federal Home Loan Banks Publish Comprehensive 2024 Impact Report

Record $1.2 Billion Committed to Housing and Economic Development in 2024

WASHINGTON, June 23, 2025 (GLOBE NEWSWIRE) -- The Federal Home Loan Banks (FHLBanks), member-owned cooperatives that power communities, announced today the release of their 2024 Impact Report, highlighting their continued reliability as a liquidity provider and a landmark year of support for housing affordability and community development across the United States. Together, the 11 regional FHLBanks ended the year with more than $737 billion in advances outstanding, nearly $220 billion in outstanding letters of credit, and nearly $70 billion in mortgage loans held. They also committed more than $1.2 billion to housing programs and voluntary initiatives – setting a new high-water mark in the System’s 90+ year history. The Affordable Housing Program alone supported projects representing an estimated $8.9 billion in total development costs in 2024, demonstrating the integral role the FHLBanks play in expanding housing supply and economic opportunity.

In 2024, the FHLBanks continued to deliver on their mission to provide reliable liquidity to nearly 6,500 financial institution members, while promoting access to safe, affordable housing in urban, suburban, and rural communities alike, transforming capital into community impact.

“We are proud to be a dependable partner for America’s housing finance system and a critical component of our nation’s economic vitality,” said Ryan Donovan, president and CEO of the Council of Federal Home Loan Banks, the public voice of the FHLBank System. “The results demonstrated by our impact in 2024 reflect our deep-rooted commitment to expanding opportunity through responsible funding, innovative partnerships, and community-led solutions. When local financial institutions thrive, so do the communities they serve, and we provide the stability and strategic support our members depend on to stimulate economic opportunity.”

Key 2024 Highlights:

$737 billion in advances outstanding to member institutions at year-end, ensuring the flow of affordable credit to local economies, especially during times of economic uncertainty.
$220 billion in total notional amount of outstanding letters of credit, helping members attract municipal deposits, keeping local funds in the community.
$70 billion in mortgage loans held at year-end, with nearly $15 billion in new mortgage loans purchased in 2024, 28% of which assisted low-income families.
$752 million in Affordable Housing Program (AHP) funding expensed, enabling the creation or preservation of over 26,000 housing units, 83% of which were multifamily developments.
$528 million in voluntary contributions for housing and economic development, including down payment assistance, disaster recovery, and regional capacity-building efforts.
Over 14,000 first-time homeowners supported through AHP grants.
$9.2 billion in Community Investment Program (CIP) advances for housing outstanding at year-end and $2.4 billion in Community Investment Cash Advances (CICA) for economic development outstanding at year-end, preserving over 12,500 jobs.

As the housing market continues to evolve, the FHLBanks remain committed to addressing persistent affordability challenges and ensuring that local lenders have the capital and tools needed to serve their communities effectively.

For an introductory video and to read the full 2024 Impact Report click here.

About: The FHLBanks are 11 regionally based, wholesale suppliers of lendable funds to financial institutions of all sizes and many types, including community banks, credit unions, commercial and savings banks, insurance companies, and community development financial institutions. The FHLBanks are cooperatively owned by member financial institutions in all 50 states and U.S. territories. The steady supply of lendable funds from FHLBanks helps U.S. lenders invest in local needs including housing, jobs, and economic growth. The Council of FHLBanks represents all 11 FHLBanks.

CONTACT INFORMATION
Council of FHLBanks
Peter E. Garuccio
202-955-0002 ext. 14
pgaruccio@cfhlb.org

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