Indianapolis is home to one of twelve banks that make up the Federal Home Loan Bank network. The Federal Home Loan Bank of Indianapolis is one of the 25 largest private companies in the Indy. This company is funded by banking members, and helps to secure low cost mortgage loans for Indianapolis residents, and homeowners all across America. Other cities that host these large regional banks are Atlanta, Boston, Chicago, Cincinnati, Dallas, Des Moines, New York, Pittsburgh, San Francisco, Seattle and Topeka.
The bank operates through financial institution members, including Indiana and Michigan based commercial banks, savings banks, insurance companies, credit unions and especially Indianapolis banks. This banking company only deals with other banks, not individuals, providing low-cost and stable funding for mortgage loans and many types of development. Many Indianapolis businesses are involved with the Federal Home Loan Bank of Indianapolis. By providing low-cost mortgage loans for the banks of Indianapolis, the entire Indianapolis society, community and culture and Indianapolis real estate benefit.
Altogether, Federal Home Loan Banks comprise the largest source of home mortgage credit in the country. The company was founded by the U.S. Congress in 1932, but they receive no Congressional appropriations because of their privately held status. During the Great Depression the Federal Home Loan Bank Act was passed in order to decrease the cost of mortgages. The banks are sponsored by the federal government, and operate under agreements with the U.S. Treasury and the Federal Reserve. The bank operates as a co-op, thus passing on their low rates to members. Now, more than 8,100 financial institution in the country have stake in Federal Home Loan Banks.
The headquarters of the Federal Home Loan Bank of Indianapolis is on the city’s northeast side, just off of Interstate 465 near the Fashion Mall at Keystone Crossing. The area is near a big business district, outside of Carmel and Fishers. Several local credit unions are a part of the bank’s membership, including the Indiana State University Credit Union. Not just Indy banks can benefit from the Federal Home Loan Bank of Indianapolis, but there are also members located in the surrounding cities and towns of Plainfield, Greenwood, Frankfort, New Albany, Ellettsville, Lafayette and many others. Many hoosiers have mortgages that originate in a Federal Home Loan Bank.
In a time of economic downturn, financial insecurity and mortgage crisis, the company helps homeowners and banks to cut costs. As one of the largest businesses in the Indianapolis area, the Federal Home Loan Bank of Indianapolis is a leader in the private business sector.
Federal Home Loan Bank of Indianapolis
8250 Woodfield Crossing Blvd
Indianapolis, IN 46240