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  • Comment Detail

  • Date: 07/12/24
    First Name: Craig
    Last Name: Gummow
    Email: cgummow@beehive.org
    Organization Type: organization
    Organization: Beehive Federal Credit Union

  • Comment

    I am disappointed to learn the FHFA is attempting to make large changes to the FHLB system. The FHLB Des Moines, has been a tremendous support to Beehive Federal Credit Union in Rexburg, Idaho. Beehive has used the FHLB eAdvantage program to support a long-term fixed rate mortgage product with servicing retained locally here in rural eastern Idaho. Beehive also relied on the borrowing program to fund a large 2022 and 2023 residential construction program, again located in rural eastern Idaho. Beehive hopes to increase our relationship in the future with the FHLB in other real estate supported products. Specifically products to help affordability as a wave of transplants have pushed up real estate prices in the area. It is difficult to find partners to help a smaller credit union increase its real estate loan offerings. FHLB Des Moines has been fantastic to work with and any changes that would prevent them from continuing to support a credit union like Beehive would be a mistake. Thank you, Craig Gummow