Federal Home Loan Bank of Atlanta Announces 2021 Director Election Results | news

ATLANTA, Nov. 17, 2021 (GLOBE NEWSWIRE) – The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced the results of the 2021 director election. The bank conducted an election to appoint the boards of directors for Alabama and the District of Columbia, as well as an independent public-interest agency representing members across the FHLBank Atlanta district. All directors will begin a four-year term beginning January 1, 2022.

Jimmy Stubbs was elected member director for the state of Alabama, William L. “Chip” Lusk, Jr. was elected member director for the District of Columbia, and Brian McLaughlin was elected an interest independent director.

Mr. Stubbs is the chief executive officer and director of River Bank & Trust in Prattville, Alabama. Under his leadership, the bank was founded in 2006 and, with total assets of US $ 2.3 billion, is one of the largest community banks headquartered in Alabama. Mr. Stubbs has been a community banker in Alabama for more than 35 years and recently completed his tenure as chairman of the Alabama Bankers Association. He currently serves on the board of directors for several business and civic organizations including the Business Council of Alabama, the Montgomery Area Committee of 100, the Montgomery Area Committee for the Arts, the Montgomery Area Chamber of Commerce, and the YMCA of the Montgomery Endowment Foundation. Mr. Stubbs is a 2007 Leadership Alabama Class alumnus and a member of the Tocqueville Society of the River Region United Way and the Wetumpka Lions Club. He is a lifelong member of the Auburn Alumni Association and the Alabama Cattlemen’s Association. Mr. Stubbs earned his bachelor’s degree from Auburn University and an Executive MBA from Troy University.

Mr. Lusk is the Chief Executive Officer of IDB Global Federal Credit Union based in Washington, DC. With over $ 700 million in net worth and 10,000 members, IDB Global serves the Inter-American Development Bank community in over 75 countries and was named one of the 200 healthiest credit unions in the United States in 2020 and 2021. Prior to leading IDB Global, Mr. Lusk was Chief Operating Officer and Chief Financial Officer of Georgia’s Own Credit Union in Atlanta and held executive positions at FSGBank, NA and Pioneer Bank, both based in Chattanooga, Tennessee. He is currently a member of the District of Columbia Financial Literacy Council, a board member of the DC Credit Union Foundation, and a member of the Finastra Phoenix Client Advisory Board. Previously, Mr. Lusk served on the Habitat for Humanity Board, YoungLife Committee, Episcopal Migration Ministries, and Rotary Club. He earned his bachelor’s degree from the University of Georgia and an MBA from the University of Tennessee.

Mr. McLaughlin is President of Enterprise Community Development, Inc. in Baltimore. With a portfolio valuation of over $ 1 billion, spanning 115 communities across the Central Atlantic and serving nearly 22,000 residents, Enterprise Community Development is the sixth largest nonprofit owner and seventh largest developer in the country, representing one of three divisions of Enterprise Community Partners. Enterprise Community Partners is a national not-for-profit organization that develops community-based programs, advocates affordable housing policies, and invests capital to build and maintain affordable housing. Mr. McLaughlin has served in various technical and managerial positions in mission-oriented organizations seeking to expand housing and business opportunity over the course of his 24-year career, including eight years at Fannie Mae, including serving as head of the company’s short-selling product line during the Great Recession and active as special assistant to the president and the chairman of the board. Mr. McLaughlin was recognized for his work in expanding funding products to small and neighborhood businesses in Maryland during his tenure in the state’s Department of Housing and Community Development, where he led the largest government division responsible for neighborhood revitalization programs and investments. He has served on the boards of several organizations including the Neighborhood Housing Services of Baltimore, the Fund for Educational Excellence, the Community Preservation and Development Corporation, and the Northern Virginia Affordable Housing Alliance. He earned his bachelor’s degree from Duke University with honors, a master’s degree in urban planning from MIT, and a master’s degree in economics from American University.

“We are excited to have all three of these highly qualified people on our board of directors,” said Rick Whaley, CEO of FHLBank Atlanta. “I have no doubt that Mr. Stubbs and Mr. Lusk will rely on the full depth and breadth of their individual experiences in representing members from their states, and Mr. McLaughlin’s background and experience will help ensure that we have a comprehensive one Overview of the loan and home finance needs of consumers and communities in our district, ”said Whaley.

About FHLBank Atlanta FHLBank Atlanta provides competitive financing, community development grants, and other banking services to help member financial institutions provide affordable home mortgages and provide neighborhood and community credit for economic development. The bank’s members – its shareholders and customers – include commercial banks, credit unions, savings banks, community development financial institutions, and insurance companies 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. Since 1990, FHLBanks have given out approximately $ 7 billion in Affordable Housing Program funding, helping more than 990,000 households.

Further information is available on our website www.fhlbatl.com.

CONTACT: Peter E. Garuccio Federal Home Loan Bank of Atlanta [email protected] 404.888.8143

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