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  • Comment Detail

  • Date: 07/12/24
    First Name: Stephen
    Last Name: Roy
    Email: steve@tricorp.org
    Organization Type: other
    Organization: Tricorp FCU

  • Comment

    Tricorp Federal Credit Union is a corporate credit union primarily serving credit unions in Maine, New Hampshire and Vermont. We serve our member credit union investment, funds transfer, and payment settlement services. The FHLB Boston plays a vital role in supporting the liquidity needs of Tricorp and our member credit unions. Our member credit unions are an important source of residential mortgage lending in our three states and the FHLB helps support their mortgage lending. Tricorp supports residential mortgage lending by holding a substantial portfolio of mortgage-backed securities and collateralized mortgage obligations.

    The FHLB Boston plays a vital role in providing liquidity to our institution as well as our members. Tricorp in partnership with the FHLB Boston play an important role in supporting the mortgage lending of credit unions in the tri-state area and changes to that function of the FHLB system would have a significant negative impact on all of us to continue to provide the very good and strong residential mortgage that currently occurs. The FHLB system provides a critical liquidity source for mortgage lending that should not be changed, and our comment letter is in support of our position.