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SAN FRANCISCO, February 7, 2023 – The Federal Home Loan Bank of San Francisco has promoted Eric Cicourel to senior vice president and community investment officer. He succeeds Marietta Núñez, who retired at the end of 2022.

Mr. Cicourel joined FHLBank San Francisco in 1999 and has held various roles with increasing responsibilities in its Community Investment Department, most recently as a managing director overseeing the Bank’s Affordable Housing Program (AHP), which has delivered over $1.25 billion in grants for development of rental and owner-occupied housing and downpayment assistance for first-time homebuyers. Throughout his tenure with the Bank, Mr. Cicourel has been integrally involved in all aspects of the competitive AHP, including policy development and implementation, application scoring, compliance, and administrative operations. 

As community investment officer, Mr. Cicourel will also be responsible for the Bank’s affordable housing and economic development credit programs, the AHEAD micro grant program, which has delivered $20.3 million in funding to nonprofits that serve lower-income communities in Arizona, California, and Nevada, and the Quality Jobs Fund, a $100 million collaboration with the New World Foundation to facilitate quality job creation, finance small business expansion, and support job training and upskilling in underserved communities across the Bank’s district.

“I am proud to be leading our dedicated and talented team of community investment professionals,” said Mr. Cicourel. “It is an honor to represent the Bank’s commitment to partnering with our members and nonprofits to strengthen our communities by adding to the supply of safe, quality affordable housing for vulnerable populations and creating opportunity in economically challenged neighborhoods.”

Mr. Cicourel serves on the board of the California Association of Local Housing Finance Agencies (CAL- ALHFA). He received a B.A. from the University of California at Berkeley and a M.A. in international affairs from the School of International and Public Affairs at Columbia University.

“The depth and breadth of knowledge and experience that Eric brings to the role of community investment officer is essential to our ability to fulfill the Bank’s mission of making our communities more vibrant and equitable,” said Teresa Bryce Bazemore, FHLBank San Francisco’s president and CEO. “On behalf of the board and the Bank’s leadership team, I’d like to express our gratitude to Marietta Núñez for her many contributions to the success of the Bank’s community investment program.”

Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. Our member financial institutions–commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions–rely on us to deliver prompt access to low-cost funding, risk management tools, and resources for affordable housing and community economic development. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.