IDB Global Federal Credit Union CEO elected to the Board of Directors of the Federal Home Loan Bank of Atlanta
WASHINGTON, DC (January 4, 2022) — IDB Global Federal Credit Union CEO Chip Lusk will serve a 4-year term on the Board of Directors of the Federal Home Loan Bank of Atlanta in the member directorship seat beginning January 1, 2022.
The Federal Home Loan Bank of Atlanta offers community development grants, financing, and banking services to help provide affordable mortgages and economic development to communities. FHLBank Atlanta is an SEC reporting, regional wholesale cooperative bank with over $75 billion in total assets.
The bank administered its Board elections as required by the Federal Home Loan Bank Act through a direct ballot process. Mr. Lusk was elected through this process.
Mr. Lusk serves as the CEO of Washington D.C. based IDB Federal Credit Union Global. Over 20-years of his career have been in executive leadership roles including CEO, COO and CFO. He holds a Bachelor’s in Business Administration in finance, Master’s in Business Administration with a concentration in accounting, as well as several industry certifications. Mr. Lusk volunteers time in the local community by assisting with the DC Financial Literacy Council, DC Credit Union Foundation, and causes that are important to the IDB Community.
Mr. Lusk says, “I am honored to be elected by my peers, and I am excited to join the Board of Directors of the Federal Home Loan Bank of Atlanta as the member representative for the District of Columbia. I look forward to working collaboratively with my FHLBank Board colleagues to support the Bank’s mission serving its member financial institutions and their respective communities, customers, and members.”
The FHLBank’s members, shareholders, and customers are credit unions, commercial banks, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLB Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $7 billion in Affordable Housing Program funds, assisting more than 990,000 households.
About IDB Global Federal Credit Union
The Credit Union is a $700+ million, not-for-profit, financial service cooperative owned by over 10,000 members of the Inter-American Development Bank (IDB) and Inter-American Investment Corporation (IDB Invest) community. It was chartered in 1961 to meet the saving and borrowing needs of IDB staff, pensioners and their families. IDB Invest, an affiliate of IDB, was added as a sponsor in October 1992. Residing on six continents and over 75 countries, the members who are part of the IDB Community are seeking to promote peace and reduce poverty in Latin America and the Caribbean through economic and social development.
Not for profit, not for charity, but for service is a Credit Union motto. This usually means a financial advantage for members, whether in the form of higher rates for savers, lower rates for borrowers, a minimum of fees or better services and educational resources. IDB Global Federal Credit Unions was ranked as one of the healthiest credit unions in the U.S. by depositaccounts.com in 2020 and 2021. Membership in the Credit Union means a lifetime of value, because once a member, always a member!