Comment Detail
Date: 07/11/24 First Name: Charles Last Name: Cavanagh Email: charliec@ucbankmn.com Organization Type: organization Organization: United Community Bank Comment
I'm the President of United Community Bank in Perham, MN. I was a director of the FHLB from 1997 to 2004 so I have a great appreciation of the mission that the bank serves. We use the FHLB advances for a variety of loans including housing and business loans. The availability of timely advances has been especially important during the recent times of liquidity.
The FHLB system has functioned well for many years over the various economics cycles and any changes should be vetted carefully through congressional deliberations.
Thank you for the opportunity to comment
Charles L. Cavanagh, President
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