Atlanta Federal Home Loan Bank Announces 2021 Results

ATLANTA, November 17, 2021 (GLOBE NEWSWIRE) – The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced the results of the 2021 director election. The Bank has held an election to fill the positions of ‘Member Directors for Alabama and the District of Columbia, and an Independent Public Interest Director representing District Members of FHLBank Atlanta. All elected directors will begin a four-year term effective January 1, 2022.

Jimmy Stubbs was elected Director Member representing the State of Alabama, William L. “Chip” Lusk, Jr. was elected Director Member for the District of Columbia, and Brian McLaughlin was elected Member of the Public Independent Director of Interest .

Mr. Stubbs is CEO and director of River Bank & Trust in Prattville, Alabama. Under his leadership, the bank was established in 2006 and is one of the largest Alabama-headquartered community banks, with total assets of $ 2.3 billion. Mr. Stubbs has been a community banker in Alabama for over 35 years and recently completed a term as President of the Alabama Bankers Association. He is currently a board member of several businesses and civic organizations, including the Business Council of Alabama, the Montgomery Area Committee of 100, the Montgomery Area Committee for the Arts, the Montgomery Area Chamber of Commerce, and the YMCA of Montgomery Endowment. Foundation. Mr. Stubbs is a 2007 Alabama Leadership Class alumnus and a member of the River Region United Way’s Tocqueville Society and the Wetumpka Lions Club. He is a life member of the Auburn Alumni Association and the Alabama Cattlemen’s Association. Mr. Stubbs received his BA from Auburn University and an Executive MBA from the University of Troy.

Mr. Lusk is Managing Director of IDB Global Federal Credit Union in Washington, DC. With over $ 700 million in assets and over 10,000 members, IDB Global serves the Inter-American Development Bank community in more than 75 countries and has been named one of the 200 healthiest credit unions in the States. United in 2020 and 2021. Prior to leading IDB Global, Mr. Lusk was COO and CFO of Georgia’s Own Credit Union in Atlanta, and has held senior positions at FSGBank, NA and Pioneer Bank, all two located in Chattanooga, Tennessee. He is currently a member of the District of Columbia Council for Financial Literacy, a member of the board of directors of the DC Credit Union Foundation, and a member of the Client Advisory Council of Finastra Phoenix. Previously, Mr. Lusk served on the Habitat for Humanity Board of Directors, the YoungLife Committee, Episcopal Migration Ministries and the Rotary Club. He received his BA from the University of Georgia and an MBA from the University of Tennessee.

Mr. McLaughlin is President of Enterprise Community Development, Inc. in Baltimore. With a portfolio valuation of over $ 1 billion spanning 115 communities across the Mid-Atlantic and serving nearly 22,000 residents, Enterprise Community Development is the sixth largest owner of affordable nonprofit housing and seventh largest developer, representing one of the three divisions of Enterprise Community Partners. . Enterprise Community Partners is a national, non-profit organization that develops community programs, advocates for affordable housing policy, and invests capital to build and maintain affordable housing. Over the course of his 24-year career, Mr. McLaughlin has held a variety of technical and managerial positions in mission-oriented organizations seeking to develop housing and economic opportunities, including eight years with Fannie Mae in roles such as leading the company’s short selling product line during the Great Recession and as Special Assistant to the President and CEO. Mr. McLaughlin was recognized for his work to expand finance products to small businesses and neighborhood businesses in Maryland during his tenure with the state’s Department of Housing and Community Development, where he led his largest government division responsible for neighborhood revitalization programs and investments. . He has served on the boards of several organizations, including the Neighborhood Housing Services of Baltimore, the Fund for Educational Excellence, the Community Preservation and Development Corporation, and the Northern Virginia Affordable Housing Alliance. He received his BA with honors from Duke University, an MA in Urban Planning from MIT and an MA in Economics from American University.

“We are delighted that these three highly qualified individuals are joining our Board of Directors,” said FHLBank Atlanta Chairman of the Board Rick Whaley. “I have no doubt that Mr. Stubbs and Mr. Lusk will draw upon the full depth and breadth of their individual experiences to represent the members of their states, and Mr. McLaughlin’s background and experience will help. to ensure that we maintain a comprehensive view of the housing finance and credit needs of consumers and communities in our district, ”said Whaley.

About FHLBank Atlanta
FHLBank Atlanta offers competitively priced finance, community development grants, and other banking services to help member financial institutions obtain affordable mortgages and provide economic development credit to neighborhoods and communities. The members of the Bank (its shareholders and customers) are commercial banks, credit unions, 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. . FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have provided approximately $ 7 billion in Affordable Housing Program funds, helping more than 990,000 households.

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CONTACT: Peter E. Garuccio
Federal Home Loan Bank of Atlanta
[email protected]

Bernadine J. Perkins