St. Thomas Federal Credit Union (STTFCU) proudly announces its membership in the Federal Home Loan Bank of New York (FHLBNY), becoming the first credit union in the Virgin Islands to achieve this significant milestone.
This new membership enables STTFCU to access funds that will support affordable housing initiatives, enhance loan products, and offer financial programs that directly benefit our members. This development underscores and strengthens STTFCU’s commitment to fostering economic growth and providing valuable financial services to the Virgin Islands community.
“The Federal Home Loan Bank of New York is excited to welcome St. Thomas Federal Credit Union to our cooperative,” said José R. González, president and CEO of the FHLBNY. “STTFCU is the first U.S. Virgin Islands-based credit union to join the FHLBNY, expanding our presence in the U.S. Virgin Islands and enhancing our ability to provide liquidity and funding for community investment across the region.”
While highlighting the significance of this partnership, STTFCU’s Chief Executive Officer Keisha L. Richards stated, “Today marks a major transformative moment for St. Thomas Federal Credit Union, as we become the first credit union in the Virgin Islands to join the FHLBNY. This partnership with the Federal Home Loan Bank of New York will open the door to enhanced financial resources, allowing us to elevate our products and services and create new opportunities for our members. As a proud member of this community, I am deeply attuned to the challenges, aspirations, and broken dreams of this community. This membership is not just a milestone but a beacon of hope. It represents our commitment to breaking down financial barriers, igniting possibilities for our members, and further positioning STTFCU to cultivate homeownership programs, offer more affordable loans and innovative financial solutions, and extend our reinvestment initiatives into our community. Together, STTFCU is committed to building a brighter future and enriching the lives of everyone we serve.”
About the Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered wholesale bank and part of the Federal Home Loan Bank System, a national network of 11 regional, stockholder-owned banks. As of September 30, 2024, the FHLBNY serves 338 financial institutions and housing associates in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. Its mission is to provide reliable liquidity to support housing and local community development.
About St. Thomas Federal Credit Union
Established in 1952, St. Thomas Federal Credit Union (STTFCU) is the largest credit union in the Virgin Islands, serving over 8,500 members across more than 90 charter agencies, including local and federal government entities. As a member-focused institution, STTFCU offers comprehensive financial services, including savings accounts, loans, and credit products. With a strong reputation as a trusted community partner, STTFCU is dedicated to supporting its members in achieving financial stability and success through personalized service and competitive offerings.
For more information about St. Thomas Federal Credit Union, please visit www.stthomasfcu.com. For inquiries regarding the Federal Home Loan Bank of New York, visit https://www.fhlbny.com.
