Credit Programs

The Bank provides below-market-rate financing to support its members' involvement in community revitalization and economic development activities through three Community Investment Cash Advance (CICA) Programs.
 
Advances for Community Enterprise (ACE) credit may be used to fund projects and activities that create or retain jobs or provide services or other benefits for low- and moderate-income people and communities. Those activities include loans to fund small business, community facilities, and public works.
 
Community Investment Program (CIP) credit may be used to fund mortgages for low- and moderate-income households, to finance first-time homebuyer programs, to create and maintain affordable housing, and to support other community economic development activities.
 
Homeownership Preservation Advance (HPA) credit may be used to fund the refinancing or modification of mortgage loans for low- and moderate-income homeowners who may be at risk of losing their primary residence because of delinquency or default on their mortgage loan.
 
The Bank also offers the Standby Letters of Credit, which can be used to support a variety of community lending purposes, under ACE and CIP only.
 


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