COVID-19: Adapting and Responding to the Pandemic
As we continue to navigate through the ongoing COVID-19 pandemic together, we are committed to providing the vital products, services, and resources our members need to serve their customers and communities.
At FHLBank San Francisco, meeting the funding and other financial services needs of our members and administering our community programs seamlessly while ensuring the health and safety of our employees are our highest priorities.
As the COVID-19 public health emergency escalated, we activated our robust business continuity plans for a pandemic and swiftly became a virtual enterprise, with 100% of our workforce now working remotely to conduct all normal business operations.
In the uniquely challenging and uncertain economic environment we find ourselves in as a result of the COVID-19 global pandemic, the Bank is offering new or augmented funding tools and resources that our members can use to support pandemic relief and recovery in their communities.
January 9, 2021 Member Announcement:
Matching contributions are available for members to provide assistance to their choice of nonprofits and small businesses for pandemic relief and to provide assistance to nonprofits to support communities affected by natural disasters.
In response to the escalating demand for pandemic relief resources, the Bank has increased the Pandemic matching limit from $10,000 to $25,000 per member. Disaster relief contributions will continue to be matched up to $25,000 per member. The Bank also changed the matching limits for both the pandemic relief and disaster relief matching from lifetime limits to annual limits, which will reset at the beginning of each year.
Additional Funding for Our 2020 AHEAD Program
In response to the economic shocks caused by the COVID-19 crisis, the Bank increased its planned $1.5 million funding allocation for the 2020 AHEAD Program by $2 million, making a total of $3.5 million in AHEAD grants available this year.
AHEAD grants can support a wide variety of targeted economic development projects, including specific initiatives aimed at meeting urgent local needs and those designed to support the longer journey to recovery from the financial impacts of the pandemic.
Because people who may be most severely affected by this crisis rely on local nonprofits for critical services and resources, this year’s additional funding enabled members to also deliver AHEAD grants to nonprofit organizations whose own operations are directly impacted by the pandemic, so that they can continue to serve their communities even as they are struggling with increased costs, loss of staff, and postponed fundraising campaigns. 2020 AHEAD Grant Recipients
May 1, 2020 News Release:
In response to the unprecedented COVID-19 public health emergency and its devastating economic impact, FHLBank San Francisco is offering a slate of new or enhanced funding tools and grants that members can use to meet the urgent and longer-term needs of their customers and communities.
March 10, 2020 Member Announcement on Business Continuity:
Contact us if you have any questions.