Becoming a Member

To apply for Bank membership, e-mail the Membership Department to request a Membership Application package. You must complete all of the required documents and exhibits that are included in the membership binder. For a detailed overview of membership with the Bank, you may download a copy of the Membership Guidelines (PDF).

The application process involves several steps:

• You submit a Membership Application package to the Bank and remit by check or wire transfer the amount of your initial stock purchase requirement.
• The Bank confirms in writing that funds for the initial stock purchase requirement have been received.
• Except for CDFIs, the Bank requests a copy of your most recent regulatory examination report from your primary regulator.
• Bank staff reviews the application for completeness and may request additional information from you as needed.
• The Bank notifies you of approval or denial of your membership application within 60 days after the application is deemed complete.
• If you are approved for membership, the Bank uses the funds held by the Bank for the initial stock purchase to purchase your required Bank stock and deposits any excess funds and accrued interest into your newly opened Settlement/Transaction Account.

If your application is withdrawn or denied, the Bank will return the full amount of the initial stock purchase originally sent to the Bank plus all interest accrued on those funds.