FHLBNY President Reports on Affordable Housing Grants and Member Satisfaction

The Federal Home Loan Bank of New York (FHLBNY) issued a President’s Report on October 8, 2026, detailing the Bank’s ongoing commitment to affordable housing and community development. The report, addressed to all stockholders, outlines the FHLBNY’s liquidity mission to serve as a reliable funding source for its members, which in turn supports mortgage lending and job creation.

The report highlights the Bank’s Affordable Housing Program (AHP), noting that every Federal Home Loan Bank dedicates at least 10 percent of its annual earnings to this initiative. In August 2026, the FHLBNY announced $70.9 million in AHP grants for its 2026 round. Additionally, the Bank voluntarily contributes an additional five percent of annual earnings to fund activities beyond the AHP, with a total of nearly $140 million allocated for these efforts in 2026.

Specifically, the FHLBNY launched a new Housing Impact Grant in September, awarding $10.3 million to six affordable housing initiatives. These initiatives are projected to create or preserve 366 affordable homes across the District. The report emphasizes that this grant provides additional flexibility for the cooperative to partner with members and housing organizations.

Regarding member relations, the FHLBNY announced the launch of the 2026 Member Satisfaction Survey. This survey serves as a feedback mechanism to evaluate the effectiveness of the Bank’s products, services, and relationship management efforts. The report notes that responses from the 2025 survey have helped shape efforts in 2026.

The filing also includes an update on the 2026 Director Election. Electronic ballot packages will be distributed to eligible members on October 13. Two District-wide Independent Director seats are up for election, with ballots due by 5:00 p.m. ET on November 12. The report also confirmed the re-election of Ira Robbins, President and CEO of Valley National Bank, and the election of Anthony Labozzetta, President and CEO of Provident Bank, to serve as Member Directors representing New Jersey members.