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Nonprofits Insurance Alliance (NIA) Joins Federal Home Loan Bank of Boston

June 26, 2020 / Ren Agarwal
SHARESHARESHARE

Nonprofits Insurance Alliance (NIA), the leading P&C insurance provider exclusively serving the 501(c)(3) nonprofit sector, announced today that Alliance of Nonprofits for Insurance, Risk Retention Group (ANI)—part of the NIA group brand—has become a member of Federal Home Loan Bank of Boston (FHLBank Boston). FHLBank Boston is part of the FHLBank System, which was created by Congress in 1932 as a government-sponsored enterprise to serve the public by enhancing the availability of credit for housing and community development. The System is composed of 11 regional banks which are privately capitalized and owned as cooperatives by their members. Each year, the FHLBanks provide access to billions of dollars in low-cost funding to nearly 7,000 of America’s banks, credit unions, insurance companies, and community development financial institutions. Membership into FHLBank Boston is a vote of confidence in ANI’s financial stability and provides ANI access to low-cost funding to continue supporting the nonprofit sector.