SAN FRANCISCO – February 14, 2017 – The Federal Home Loan Bank of San Francisco is pleased to announce the appointment of Iosefa Alofaituli to its Affordable Housing Advisory Council (AHAC) and the reappointment of three current AHAC members. The 15-member AHAC provides the Bank with expert guidance on affordable housing and economic development issues and helps shape its community grant and credit programs.
Iosefa Alofaituli is the Regional Director of Opportunity Fund in Los Angeles, helping to lead the organization’s development, branding, and expansion efforts in Southern California. Opportunity Fund is the leading nonprofit microfinance lender in the state, connecting underserved entrepreneurs to working capital. Prior to working at Opportunity Fund, Mr. Alofaituli launched and led an innovative place-based nonprofit organization, Oak View Renewal Partnership, focused on a specific low-income Latino community in Huntington Beach, California.
Reappointed AHAC members are:
Current AHAC Vice Chair Laura Archuleta is President of Jamboree Housing Corporation. Under her leadership over the past 17 years, Jamboree Housing Corporation has grown from a small, Irvine-based local housing developer with 750 units to the fifth largest nonprofit developer in California, with 8,300 homes in more than 88 communities. Since joining Jamboree, she and her management team have grown the company’s asset portfolio to a market value of nearly $1.1 billion, directly benefiting more than 18,500 Californians.
Dora Leong Gallo is Chief Executive Officer of A Community of Friends ACOF) in Los Angeles, a position she has held since joining ACOF in 2003. The mission of ACOF, a nonprofit affordable housing developer, is to end homelessness through the provision of quality permanent supportive housing for people with mental illness. Established in 1988, ACOF has completed over 1,800 units in 45 apartment buildings throughout Los Angeles and Orange County, with four projects currently under construction. As CEO, she is responsible for conceptualizing and implementing the organization’s strategic priorities. Ms. Gallo is actively engaged in public policy and advocacy work, and currently serves on the boards of three nonprofit organizations, including the National Low Income Housing Coalition.
Carol Ornelas is Chief Executive Officer of Visionary Home Builders of California (VHB) in Stockton, California. Under her direction, VHB has built and rehabilitated more than 1,200 units of rental housing and more than 700 homes for first-time homebuyers in the Central Valley. VHB is responsible for bringing $700 million in grants and private funding to develop affordable housing in the San Joaquin Valley. The first female developer in the Central Valley, Ms. Ornelas has been recognized as a national leader in the nonprofit housing development community, with a focus on building and creating partnerships within the communities she serves and collaborating with city, state, and national officials to provide quality affordable housing.
Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community programs that help members create affordable housing and promote community economic development. The Bank’s members are headquartered in Arizona, California, and Nevada and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.