Bear-based Community Powered Federal Credit Union was one of three financial institutions to join The Federal Home Loan Bank of Pittsburgh in the second half of 2018.
As FHLBank members, Arch Reinsurance Company, Community Powered Federal Credit Union and Technology Insurance Company, Inc. may now access FHLBank’s suite of financial services. This includes cost loans (advances), which may be used for community development lending, asset/liability management and general funding.
Community Powered started out as DPL Federal Credit Union in 1962 as a credit union employees of the Delmarva Power & Light Company.
In 2009, the organization changed its name to Community Powered Federal Credit Union and expanded its membership to offer financial services to anyone who lives, works, worships or goes to school in New Castle County above the Chesapeake and Delaware Canal. To learn more about Community Powered FCU, visit www.cpwrfcu.org.
As an intermediary between global capital markets and local lenders, FHLBank Pittsburgh provides liquidity, as well as affordable housing and community development opportunities, to member financial institutions of all sizes in Delaware, Pennsylvania and West Virginia.