The Federal Home Loan Bank of Pittsburgh is a cooperative institution, owned by financial institutions. It provides low-cost funding and opportunities for affordable housing and community development to approximately 340 member financial institutions in Delaware, Pennsylvania, and West Virginia. All members are required to purchase capital stock in the FHLBank as a condition of membership. The capital stock of the FHLBank can be purchased only by members. The FHLBanks are regulated by the Federal Housing Finance Board, an independent agency in the executive branch of the U.S. government. The FHLBanks is a unique combination of private and public resources. Private capital drives the engine and bears the risk, while public sponsorship provides favorable access to financial markets. The FHLBank of Pittsburgh is one of twelve FHLBanks nationwide. Each FHLBank operates as a separate entity with its own management, staff, and Board of Directors.
