Federal Home Loan Bank

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The Federal Home Loan Bank of Indianapolis is a wholesale bank with more than $40 billion in assets. The bank is part of a system of 12 such banks throughout the United States established in 1932. It helps families afford housing by working with member financial institutions located in Indiana and Michigan to meet their funding needs for both residential mortgage loans and loans to support the economic growth of their communities. Loans to member institutions, called advances, range from overnight to 10 years in maturity with a choice of variable and fixed rates and various pricing and payback options. The bank also provides grants for building and rehabilitating low-income housing and provides its members with various correspondent services. The organization maintains its headquarters in Indianapolis.