The Federal Home Loan Bank of New York (“FHLBNY”) has begun seeking nominations for directors to serve on its Board for terms starting Jan. 1, 2015, the agency announced in a letter sent to its members Friday.
In total, five members will be up for election in 2014.
“Our Board provides the Home Loan Bank with the guidance needed to meet the needs of our members and the communities we all serve,” said José R. González, president of the FHLBNY. “The various strengths and interests of our membership are reflected in our Board, and I encourage all members of our cooperative to be involved in the election process.”
In total, three seats — two representing the Bank’s New Jersey members and one representing New York members — are up for election in 2014. In addition, two independent directors are to be elected this year.
The FHLBNY includes Puerto Rico’s banking community among its financial institutions.