The article discusses the challenges facing the economy, including high mortgage interest rates, rising costs, and labor market imbalances. It emphasizes the critical role of community lenders in providing access to credit that supports local businesses, fosters economic growth, and strengthens communities. The authors highlight their experiences as former members of Congress and board members of Federal Home Loan Banks, stressing the importance of the FHLBank System in ensuring capital availability for smaller financial institutions. This support is essential for maintaining a stable and economically vibrant environment across the nation.
The health of community lending relies heavily on a robust and enduring FHLBank System, which provides members—especially smaller institutions—with efficient and certain access to capital markets.
Community lenders are the backbone of our nation's economy, fostering economic growth and supporting job creation through access to credit for individuals and local businesses.
The availability of funding at the local level is the driving force in building stronger communities, with mortgage lending and small business loans essential to local development.
As board members for three of the 11 FHLBanks, we have witnessed firsthand the critical role these institutions play in strengthening local communities and providing stability.
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