Three new members join Federal Home Loan Bank of Pittsburgh cooperative

The Federal Home Loan Bank of Pittsburgh (FHLBank) recently announced that three new members, Arch Reinsurance Company, Community Powered Federal Credit Union and Technology Insurance Company, Inc., joined its cooperative of financial institutions in the second half of 2018.

The cooperative includes commercial banks, credit unions, insurance companies, community development financial institutions and thrifts in Delaware, Pennsylvania, and West Virginia.

“We are pleased to continue adding to the diversity of our cooperative,” FHLBank President and CEO Winthrop Watson said. “We welcome these new members into the Bank and look forward to serving their liquidity, housing finance, and community lending needs.”

The new members can now access FHLBank’s suite of financial services, including cost loans which may be used for community development lending, asset/liability management, and general funding.

Arch Reinsurance Company (Arch Re), a diversified reinsurer, has operations in most major global insurance centers. The company offers treaty and facultative property and casualty reinsurance.

Community Powered Federal Credit Union offer financial services to residents of New Castle County, Delaware. The company opened in 1962 under the name DPL Federal Credit Union to serve employees of the Delmarva Power & Light Company.

Technology Insurance Company, Inc., a wholly owned subsidiary of AmTrust Financial Services, Inc., offers specialty property and casualty insurance products through its primary insurance subsidiaries.