Federal Home Loan Bank of Atlanta Issues Impact and Affordable Housing Advisory Council Report

ATLANTA, May 12, 2025 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) released its Impact and Affordable Housing Advisory Council (AHAC) Report, describing the organization’s highest year of funding to date for affordable housing and community development. The report also outlines the widespread reach of FHLBank Atlanta’s lending products for member institutions and the community investment programs positively impacting its district in 2024.  

“We are proud of our work to provide nearly 800 financial institutions with access to funding to support local lending for small businesses, mortgages, and community development projects,” said Kirk Malmberg, president and CEO of FHLBank Atlanta. “Additionally, each year we work with members to ensure we offer affordable housing grant programs that address current needs. For 2024, this resulted in the introduction of Workforce Housing Plus+, a new initiative to provide downpayment assistance to a broader population of borrowers challenged by the rising cost of homes and high interest rates.”

In total, FHLBank Atlanta contributed a record $120 million in grants for affordable housing and community development in 2024. Additional highlights of the report include:

• $55 million distributed through the Affordable Housing Program (AHP) General Fund, supporting 66 projects that will create or rehabilitate more than 4,200 affordable housing units
• $40 million distributed through the AHP Homeownership Set-aside Program, providing homeownership grants to more than 3,000 households for downpayment, closing cost, and home rehabilitation assistance
• $20 million distributed through the Workforce Housing Plus+ program, providing downpayment and closing cost assistance to more than 1,300 households
• $5.9 million in total allocated to 21 organizations addressing heirs’ property issues to help more than 5,000 families protect their assets and build generational wealth
• $1 billion in Community Investment Program advances to support housing and economic development
• $250,000 donated to the American Red Cross for recovery efforts following Hurricane Helene
• 48 forums attended to promote financial literacy and homeownership knowledge sharing across the FHLBank Atlanta district
  

The report also highlights FHLBank Atlanta’s culture of giving back, including its ongoing Community Involvement program and volunteerism efforts.

“FHLBank Atlanta continues to remain a reliable source of lending for members, allowing us to deliver on our purpose of earning trust, building relationships, and bettering lives,” said Tomeka Strickland, senior vice president and director of community investment services of FHLBank Atlanta. “The record amount of grant funding we distributed last year is a direct reflection of our collaboration with members and commitment to our communities, and we look forward to strengthening these partnerships in 2025 to continue investing in the neighborhoods our members serve.”

About Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank is a cooperative whose members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System (FHLBank System). Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households. 
For more information, visit our website at www.fhlbatl.com.

Contact: Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com