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Two Cornerstone CU Leaders Vie for FHLB Board Against Bankers
Friday, November 4, 2016 7:00 AM

Cornerstone Credit Union League members David Bleazard of First Service Credit Union and Randall Dixon from Energy Capital Credit Union, both from Houston, are running for seats on the Federal Home Loan Bank (FHLB) Board in Dallas.

FHLB credit union members should have already received their election package for this year, including a voting ballot, so voting is a simple matter of selecting your favorite CU candidate and returning the ballot before the deadline date of Nov. 7.

"Credit unions can expand their influence in the financial services industry by participating in organizations like the Dallas FHLB," said Cornerstone Chief Advocacy Officer Jim Phelps. "As fellow cooperatives, credit unions would offer valuable insight to help advance the FHLB's mission for the benefit of all members."  

The FHLB Dallas is one of 12 district banks in the Federal Home Loan Bank System created by Congress in 1932. The FHLB is a member-owned cooperative that supports housing and community development through low-cost funding and other credit products provided to approximately 900 member and affiliated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

Though the FHLB is a cooperative institution like credit unions, its board is controlled by bankers. Each term of board membership is four years.

Get more information here.