NEW YORK, June 27 -- The Federal Home Loan Bank of New York, a district bank in the Federal Home Loan Bank System, issued the following news release:
The Federal Home Loan Bank of New York ("FHLBNY") is now formally soliciting nominations for Directors to serve on its Board of Directors ("Board") for terms commencing on January 1, 2015, the FHLBNY announced in a letter sent to its members on Friday, June 27, 2014. In total, five Directorships will be up for election in 2014.
"Our Board provides the Home Loan Bank with the guidance needed to meet the needs of our members and the communities we all serve," said Jose R. Gonzalez, president and CEO of the FHLBNY. "The various strengths and interests of our membership are reflected in our Board, and I encourage all members of our cooperative to be involved in the election process."
In total, three Member Directorships - two seats representing the Bank's New Jersey members and one seat representing the Bank's New York members - are up for election in 2014. In addition, two Independent Directors are to be elected in 2014.
The FHLBNY's official Certificate of Nomination was included in materials sent to members on June 27, 2014. Eligible New Jersey and New York stockholders may, using the Certificate, nominate one person for each of their state's open Member Directorships. Separately, those individuals interested in being nominated for the two open Independent Directorships must first submit an Independent Director Application Form to the Bank. A copy of the Application Form can be found at here in the section entitled "About the FHLBNY's 2014 Director Election". All Certificates of Nomination and Independent Director Application Forms are due at the FHLBNY by 5:00 p.m. on Wednesday, July 30, 2014.
Any questions on the 2014 Director election process should be directed to Paul Friend, the FHLBNY's general counsel, at email@example.com.
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