Becoming a Member

To apply for Bank membership, e-mail the Membership Department to request a Membership Application package. You must complete all of the required documents and exhibits that are included in the Member Documentation binder. For a detailed overview of membership with the Bank, you may download a copy of the Membership Application Guidelines that correspond to your institution:

• Banks/Thrift & Loan Companies (PDF)
• Credit Unions (PDF)
• Insurance Companies (PDF)
• Savings Institutions (PDF)

The application process involves several steps:

• Your institution submits a Membership Application package to the Bank. Bank staff reviews the application for completeness and may request additional information from your institution as needed.
• Your institution remits by check or wire transfer the amount of your projected stock purchase requirement. The Bank sends your institution a written confirmation that funds for the projected stock purchase requirement were received.
• The Bank requests a copy of your institution’s most recent regulatory examination report from your primary regulator.
• The Bank notifies your institution of approval or denial of your membership application within 60 days after the application is deemed complete.
• If your institution is approved for membership, the Bank uses the funds held by the Bank for the projected stock purchase requirement to purchase your required Bank stock and deposits any excess funds and accrued interest into your newly opened Settlement/Transaction Account.

If your application is withdrawn or denied, the Bank will return the full amount of the projected stock purchase requirement originally sent to the Bank plus all interest accrued on those funds.