FHLBank Topeka's Community Impact Report Released
FHLBank Topeka has announced the release of its 2024 Corporate Impact Report. This significant document emphasizes the drive for community enhancement through initiatives and partnerships established with its 660 member financial institutions. The report is filled with valuable narratives and testimonials that spotlight the crucial role of FHLBank Topeka in supporting local communities.
A Continuous Partnership
Jeff Kuzbel, the president and CEO of FHLBank Topeka, expressed pride in the sustained partnerships with financial institutions spread across the Tenth District. He stated, "Through FHLBank Topeka's comprehensive products such as liquidity support, mortgage programs, and community development avenues, we aim to uplift the lives of homeowners, renters, small businesses, and farmers as we move forward." This collaborative spirit not only reinforces the existing community bonds but also paves the way for new opportunities.
Key Highlights from the 2024 Impact Report
The report outlines several notable achievements of FHLBank Topeka throughout 2024:
- A remarkable 93% of its member banks possess less than $1.461 billion in assets, marking the highest concentration of smaller entities within any FHLBank.
- FHLBank Topeka's liquidity mission was exemplified by $41.7 billion in advances outstanding to its members, which supported their various community development projects.
- A total of $8.9 billion in unpaid principal from mortgage loans and $7.5 billion in letters of credit outstanding were recorded, showcasing robust financial activity.
- The institution received the highest level of collateral in the system, which includes small business and farm loans, significantly benefiting its members.
- Community development efforts reached nearly all counties within its district, proving the extensive reach and influence of FHLBank Topeka.
- A total of 235 members utilized targeted funds to focus on housing and community development projects.
- Over 1,300 households achieved homeownership through these initiatives, alongside 1,699 units being created or supported.
- FHLBank Topeka allocated $5.3 million to support housing initiatives for Native American tribes.
- Grants exceeding $41 million were invested under the statutory commitment of 10% net income, along with an additional voluntary investment of $14 million.
- In the spirit of community enhancement, more than $1.4 million was contributed to nonprofits, affirming the bank’s commitment to social responsibility.
- The #500forGood program saw 52 local projects receive microgrants, reinforcing support for innovative community ideas.
- Reinforcing its dedication to cultural awareness, 93% of the FHLBank Topeka employees participated in community events in 2024.
Continued Commitment
This 2024 report marks the third annual iteration of the impact report. FHLBank Topeka plans to continue this tradition each summer, aiming to keep stakeholders informed of developments and impacts within their communities.
Contact Information
For further inquiries, you can reach out to:
Tamara Taylor, FVP, Director of Corporate Communications
Email: tamara.taylor@fhlbtopeka.com
Phone: 785.478.8157
Frequently Asked Questions
What is the primary focus of the FHLBank Topeka's 2024 report?
The report primarily focuses on FHLBank Topeka's community-building efforts and the impacts of their programs aimed at supporting various stakeholders.
How many members does FHLBank Topeka currently have?
FHLBank Topeka proudly supports 660 member financial institutions.
What amount did FHLBank Topeka allocate for community development grants?
Over $41 million in grants was invested through their statutory commitment and additional voluntary funds.
Who benefits from the initiatives outlined in the FHLBank report?
Initiatives support homeowners, renters, small businesses, farmers, and local nonprofits among others.
Will FHLBank Topeka continue publishing annual impact reports?
Yes, FHLBank Topeka intends to release annual impact reports each summer moving forward to keep stakeholders informed.
