McCargo’s FHL Bank of San Francisco Appointment Could Bolster Economic Opportunity in Housing and Financial Services Lending

Share:

For Immediate Release:

Contact:
Jennifer Baskerville
[email protected]

WASHINGTON(May 8, 2024) -Marisa Calderon, president & CEO of Prosperity Now, issued the following statement in recognition of Alanna McCargo's appointment as the new president and chief executive officer of the Federal Home Loan Bank of San Francisco (FHLBank San Francisco):

"Prosperity Now applauds the appointment of Alanna McCargo as the new president and CEO of FHLBank San Francisco. The FHLBank San Francisco serves an important role providing liquidity to its members, including by providing capital that allows its members to provide consumers with affordable mortgage options. Responsible, rapid deployment of affordable capital is needed now more than ever to address the nation's housing and rental crisis, especially in California, Arizona and Nevada where its members are located."

"Alanna's decades of experience in housing and financial services, along with a wealth of relationships across the entire housing finance system, make her ideally suited to lead the vital work of FHLBank San Francisco. Prosperity Now looks forward to working with her in service of our collective missions."

Background:

• Prosperity Now works year-round to ensure renters and homeowners, especially historically underserved families, have safe and stable housing and equitable opportunities to build wealth.
• The FHLBanks are 11 regionally based, wholesale suppliers of lendable funds to financial institutions of all sizes and many types, including community banks, credit unions, commercial and savings banks, insurance companies, and community development financial institutions. The FHLBanks are cooperatively owned by their member financial institutions.. The steady supply of lendable funds from FHLBanks helps U.S. lenders invest in local needs including affordable housing and economic development.

###

About Prosperity Now

Since 1979, Prosperity Now (formerly CFED) has been a persistent voice championing economic opportunity, innovating outside of and beyond existing systems to build power for all communities. We advance racial and ethnic economic justice by investing in bold new ideas, and we work deeply at both the grassroots and national level to impact the entire ecosystem. By setting goals for our economy and following through with targeted approaches based on need, we are equipped to drive forward and cement big structural solutions. Learn more at www.prosperitynow.org