DALLAS and CHICAGO–The Federal Home Loan Banks of Chicago and Dallas have jointly announced that they are evaluating the benefits and feasibility of combining the two institutions.
"Our focus is on identifying whether and how a combination would produce advantageous results and improved value for members of both organizations and the affordable housing needs of their communities, while also supporting the ongoing strength of the Federal Home Loan Bank System," said Terry Smith, president and CEO of Dallas and Mike Thomas, president and CEO of Chicago. If a definitive agreement is reached, both banks will immediately communicate that to interested parties.
According to NAFCU, the move could impact 81 credit unions that are members of the two FHLBs.
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