U.S. Sen. Dave McCormick joined the Federal Home Loan Bank of Pittsburgh (FHLBank) during a ceremony today announcing $53.7 million in 2025 Affordable Housing Program (AHP) and voluntary housing grant initiative awards in Pennsylvania. These grants, made in partnership with 19 FHLBank member institutions, will support more than 1,100 affordable homes. The funding will assist with home repairs, new home construction, adaptive reuse of historic buildings, and housing for veterans and seniors. Local organizations also leveraged more than $250 million from the Pennsylvania Housing Finance Agency, Historic Preservation Tax Credits, HOME funds, Low-Income Housing Tax Credits, the Commonwealth of Pennsylvania, and other sources to support these 45 projects.

FHLBank is a cooperative whose members can access reliable liquidity and community products to support community partnerships that foster job growth, economic vitality and long-term stability in Pennsylvania and communities across the country. AHP was created by Congress as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and operations began in 1990. On an annual basis, each Federal Home Loan Bank must set aside at least 10% of its prior year’s net income to fund AHP. AHP is funded entirely through FHLBank earnings, and grants are available only through FHLBank members. The voluntary housing grant initiative is an additional voluntary pool of funding which is separate and distinct from FHLBank’s required, statutory AHP, and is provided to address the critical housing needs within FHLBank’s district.

“Affording a home – whether buying or renting - is a real struggle for too many Pennsylvanians. That is why I am proud to join FHLBank Pittsburgh in celebrating $53.7 million in affordable housing awards supporting more than 1,100 homes across our Commonwealth,” said Senator Dave McCormick. “These 45 projects will fund home repairs, new construction, and housing for veterans and seniors, which is the kind of local action our communities need. In Congress, I will keep fighting for affordable housing through legislation like the ROAD to Housing Act, a bill I cosponsored and helped craft that passed with unanimous bipartisan support in the Senate Banking Committee. I believe every Pennsylvanian deserves a safe, stable place to call home."

“Today, we celebrate the opportunities that this funding brings to foster thriving communities and enhance the lives of our neighbors,” said David G. Paulson, president and CEO, FHLBank Pittsburgh. “We are grateful to the many individuals and our member financial institutions who are dedicated to providing safe, affordable housing across Pennsylvania. Thank you Senator McCormick for the partnership that allows Federal Home Loan Banks to provide this support.”

Joining Sen. McCormick and FHLBank President and CEO David G. Paulson were representatives from public, private and community partners including Lena G. Andrews, Chief Executive Officer ACTION-Housing; Maria Gonzalez, President, Hispanic Association of Contractors & Enterprises. Several directors from FHLBank’s Board attended, including: Brendan McGill, Chair of FHLBank Pittsburgh’s Board of Directors and President and Chief Executive Officer of Harleysville Bank; Dr. Howard B. Slaughter, Jr., member of the FHLBank Pittsburgh Board of Directors and President and CEO of Habitat for Humanity of Greater Pittsburgh – who served as the emcee of the event; Jim Dionise, Director of NexTier Bank, N.A.; and Sheryl Jordan, Executive Vice President and Managing Director at PNC. Representing the FHLBank Affordable Housing Advisory Council was Jerrel T. Gilliam, Executive Director, Light of Life Rescue Mission and Varsovia Fernandez, CEO of the Pennsylvania CDFI Network.

A complete list of the AHP and voluntary housing grant initiative awards can be found at www.fhlb-pgh.com/ahp.

About FHLBank Pittsburgh

FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia. FHLBank products and resources help support community lending, housing and economic development. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932. Learn more by visiting www.fhlb-pgh.com.

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