Member financial institutions of FHLB Dallas must adhere to community support standards established by the Federal Housing Finance Agency (FHFA) under 12 CFR part 1290. These standards take into account each member's performance under the Community Reinvestment Act (CRA) of 1977, and the member’s record of lending to first-time homebuyers. To retain access to FHLB Dallas’ long-term advances and to participate in FHLB Dallas’ Affordable Housing Program (AHP) and Community Investment Cash Advance (CICA) program, members are required to document their community support activities by submitting a Community Support Statement (CSS) to the FHFA every two years.
To satisfy the community support standards, members subject to the CRA must meet both the CRA standard and the first-time homebuyer standard. Members not subject to CRA, including credit unions and insurance companies, must meet only the first-time homebuyer standard. By regulation, any member that does not meet a required standard (or fails to submit a CSS) may be restricted from accessing FHLB Dallas’ long-term advances and participating in any of FHLB Dallas’ AHP and CICA programs or placed on probation until that member is able to meet the standards.
Beginning April 1, 2019, each member that is subject to community support review is required to complete an online community support statement using the FHFA’s Community Support Program (CSP) website. The online form must be completed and executed by an appropriate senior officer of the member institution and submitted to the FHFA on or before October 31, 2019, using the CSP Website.
In reviewing a member for community support compliance, the FHFA will consider any public comments it has received. Therefore, FHLB Dallas’ Advisory Council, nonprofit housing developers, community groups and other interested parties in the Dallas district are encouraged to submit public comments on the community support performance of FHLB Dallas' members.
To ensure consideration by the FHFA, comments concerning the community support performance of members must be submitted to the FHFA, either by electronic mail at email@example.com or by FAX to 202.649.4308, on or before April 29, 2019.
View the list of FHLB Dallas members subject to the October 31, 2019, community support review.
FHLBanks’ mission is to provide reliable liquidity to member institutions to support housing finance and community investment.
If you have questions or need assistance completing the Community Support Statement, please contact Michelle Purnell at 214.441.8619 or your Member Sales Officer at 800.442.9841.