Comment Detail
Date: 06/24/24 First Name: Susan Last Name: Savat Email: smsavat@merchantsbank.com Organization Type: organization Organization: Merchants Financial Group/Merchants Bank Comment
Congress created the HFLB Bank System with its mission to provide liquidity to their members in support of housing and community development. As a community bank, Merchants Bank relies on our FHLB Des Moines to help us meet our mission of growing and supporting our communities. The funding and services provided to Merchants by FHLB Des Moines are critical. Please do not change the overall mission, structure and function of the System as the Banking industry is going through a difficult enough time with the 2023 bank failures and reduction in deposits kept in community banks due to the publics perception of keeping funds with the banks that are too big to fail. We rely on FHLB Des Moines every day to allow us to manage the ups and downs of our balance sheet management.
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