Key Leadership Appointments at Federal Home Loan Bank
Brady, Vance, Collins, and Darby have been elected to serve four-year terms as directors.
Election Results and Board Chair Announcement
The Federal Home Loan Bank's Board of Directors announced vital changes following the elections. Notably, Nancy E. Uridil will take on the role of board chair, while Michael P. Pell will assume the position of vice chair.
Newly Elected Directors
The elections brought forth two Ohio Member Directors, Brady T. Burt and James J. Vance, alongside two Independent Directors, Susan E. Collins and Kristin H. Darby. Each will serve a four-year term.
Profiles of the Newly Elected Directors
Brady T. Burt holds the title of Chief Financial Officer at Park National Corp. He has been a Member Director since 2017 and has notable experience in the industry. James J. Vance serves as Senior Vice President for Western-Southern Life Assurance Co. and possesses extensive experience on the FHLB Board, having been a member since 2017.
Leadership Roles Within the Board
Nancy E. Uridil, a retired global CPG executive, will serve as board chair for the next two years. Meanwhile, Michael P. Pell, who is the President and CEO of First State Bank, will step in as vice chair.
Contributions of the New Board Members
Susan E. Collins, who previously served as Executive Vice President of Tennessee Valley Authority, recently retired and now brings her expertise in human resources to the board. Kristin H. Darby, Chief Information Officer at HarmonyCares, has been part of the FHLB Board since 2021, already showing strong leadership in her role.
About Federal Home Loan Bank
The Federal Home Loan Bank is a prominent wholesale cooperative bank rated at AA+, serving a network of 609 financial institutions. These institutions range from commercial banks to community development financial institutions across several states.
Services Offered to Members
The bank provides essential products and services, such as low-cost funds through Advances and issuing Letters of Credit. The FHLB continuously strives to support its members in creating affordable housing and enhancing local economic development through strategic investments.
Frequently Asked Questions
Who are the new members of the Federal Home Loan Bank Board?
The newly elected members are Brady T. Burt, James J. Vance, Susan E. Collins, and Kristin H. Darby.
What positions have Nancy E. Uridil and Michael P. Pell taken?
Nancy E. Uridil will serve as board chair, while Michael P. Pell will be the vice chair.
How long is the term for the new directors?
Each of the newly appointed directors will serve four-year terms.
What role does the Federal Home Loan Bank play in the financial system?
The FHLB acts as a cooperative bank that provides funding and services to various financial institutions to promote housing and community development.
How does the FHLB benefit its members?
The Federal Home Loan Bank provides low-cost funding options, contributing to enhanced affordability in housing and the economic development of communities.
