Two Financial Institutions Join FHLBank Pittsburgh in Second Quarter

PITTSBURGH--(BUSINESS WIRE)-- The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today that, in the second quarter of 2016, two new members joined the Bank’s cooperative of commercial banks, credit unions, insurance companies, community development financial institutions and thrifts in Delaware, Pennsylvania and West Virginia. The variety of member types contributes to FHLBank’s strength and flexibility for its cooperative members, and has a positive impact on a wide range of local communities.

“We are pleased to welcome these two new members into the Bank,” said Winthrop Watson, FHLBank’s President and Chief Executive Officer. “We look forward to serving their business and liquidity needs.”

As FHLBank members, Tuscarora Wayne Insurance Company and Widget Federal Credit Union may now access FHLBank’s suite of financial services. This includes low-cost loans (advances), which may be used for community development lending, asset/liability management and general funding.

About Tuscarora Wayne Insurance Company

Tuscarora Wayne Insurance Company, incorporated in 1874, makes its headquarters in the Susquehanna River community of Wyalusing, Pa. Specializing in underwriting and claims management, with programs marketed throughout Pennsylvania and Ohio, it is the mainstay of the Tuscarora Wayne Group of Companies, Inc. Also included in the parent group are the Keystone National Insurance Company and, most recently, the Lebanon Valley Insurance Company. For more information about Tuscarora Wayne Insurance Company, visit www.twmic.com.

About Widget Federal Credit Union

Widget Federal Credit Union (DBA Widget Financial) is a local not-for-profit credit union, headquartered in Erie, Pa., that is shared by more than 36,000 members. Widget Financial’s members both own and democratically control the financial cooperative. A small group of General Electric employees formed The Erie General Electric Federal Credit Union, which began serving employees at the General Electric Plant in Erie on March 10, 1936. The credit union changed its name in early 2013 to Widget Financial. For more information about Widget Financial, visit www.widgetfinancial.com.

About FHLBank Pittsburgh

As an intermediary between global capital markets and local lenders, FHLBank Pittsburgh provides readily available liquidity, as well as affordable housing and community development opportunities, to member financial institutions of all sizes in Delaware, Pennsylvania and West Virginia. The Bank is part of the Federal Home Loan Bank System, which was established by Congress in 1932 and serves as a reliable source of funds for housing, jobs and growth in all economic cycles. To learn more, visit www.fhlb-pgh.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160701005077/en/

FHLBank Pittsburgh
Terri McKay, 412-288-2830
[email protected]

Source: Federal Home Loan Bank of Pittsburgh

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