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2024 Director Elections

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2024 Director Elections

Federal Home Loan Bank of Atlanta (Bank) is conducting an election to fill four directorships on its board of directors: two member directorships and two independent directorships.

Each institution that was a member of the Bank as of December 31, 2023, or that is the acquirer of, or successor in interest to, such an institution, is eligible to participate in the election. Eligible institutions in North Carolina and Virginia will elect one member director each. Eligible institutions from across the Bank's district will elect two independent directors, one of which will be a public interest independent director.

Nominations for the North Carolina and Virginia member directorships must be submitted in accordance with the emailed instructions from our vendor, Survey & Ballot Systems, by 5:00 p.m. EDT on July 8, 2024.

Individuals interested in being considered for the independent directorship and the public interest independent directorship must complete and return the application and related forms, available below, directly to the Bank by 5:00 p.m. EDT on July 8, 2024, in accordance with the instructions below.

Information regarding the independent directorships has been emailed to eligible institutions across the Bank’s district by Survey & Ballot Systems. Pursuant to the Bank’s board-approved Equal Opportunity Policy Statement, which is available on the Bank’s website, the Bank encourages the consideration of diversity in nominating or soliciting nominees for positions on the Bank’s board of directors.

 

Member Director Election

Important information related to the nomination of member directors has been emailed to eligible institutions in North Carolina and Virginia. Nominations for the member directorships must be submitted in accordance with the emailed instructions by 5:00 p.m. EDT on July 8, 2024.

The terms of the member directorships filled in this election begin on January 1, 2025, and end on December 31, 2028.

Member Director Eligibility

  • To be eligible for the North Carolina member directorship, an individual must be a citizen of the United States and serve as an officer or director of a current Bank member institution that (a) is located in North Carolina, (b) meets all minimum capital requirements established by its appropriate federal banking agency or appropriate state regulator, and (c) was a member of the Bank as of December 31, 2023.
  • To be eligible for the Virginia member directorship, an individual must be a citizen of the United States and serve as an officer or director of a current Bank member institution that (a) is located in Virginia, (b) meets all minimum capital requirements established by its appropriate federal banking agency or appropriate state regulator, and (c) was a member of the Bank as of December 31, 2023.
  • Any individual who has been elected to three consecutive full terms on the Bank's board may not serve a fourth term until two years after the expiration of the third consecutive term.

 

Independent Director Election

The terms of the independent directorship and the public interest independent directorship being filled in this election begin on January 1, 2025, and end on December 31, 2028.

Independent Director and Public Interest Independent Director Eligibility

  • An independent director (including a public interest independent director) must be a citizen of the United States and a bona fide resident of the Bank’s district.
    • To serve as an independent director, an individual must have knowledge of, or experience in, one or more of the following areas: auditing and accounting, derivatives, financial management, organizational management, project development, risk management practices, and the law.
    • To serve as a public interest independent director, an individual must have more than four years of experience in representing consumer or community interests in banking services, credit needs, housing, or consumer financial protection.
  • An individual may not serve as an independent director or public interest independent director if he or she is an officer of any Federal Home Loan Bank or a director, officer, or employee of any member of the Bank or of any recipient of advances from the Bank.
  • Any individual who has been elected to three consecutive full terms on the Bank’s board may not serve a fourth term until two years after the expiration of the third consecutive term.

Independent Director and Public Interest Independent Director Election Application and Nomination Process

  • Individuals interested in being considered for the independent directorship and/or the public interest independent directorship must complete and return to the Bank by 5:00 p.m. EDT on July 8, 2024, the application and related forms available via the link below. Applications must be returned to the Bank by 5:00 p.m. EDT on July 8, 2024. The Bank will not accept any applications received after 5:00 p.m. EDT on July 8, 2024.
  • Deliver completed forms to Courtney Tobin, Associate General Counsel, Federal Home Loan Bank of Atlanta, 1475 Peachtree Street NE, Atlanta, GA 30309.  You may also sign, scan and email forms to ctobin@fhlbatl.com.
  • The Bank's board, in consultation with the Bank's Affordable Housing Advisory Council, will select the nominees and deliver the application of each such nominee to the Federal Housing Finance Agency for review.

Independent Directorship and Public Interest Independent Directorship Application Requirements

Applicants for the independent directorship and the public interest independent directorship must complete the following forms:

 

Preliminary 2025 Board Meeting Schedule

Directors are strongly encouraged to attend all meetings of the board and board committees on which the director serves. The preliminary 2025 board meeting schedule is provided below. Individuals interested in being considered for a directorship are encouraged to review the 2025 board meeting schedule, noting the time commitment involved with this position, and to proactively examine any potential conflicts with accepting a position for Federal Home Loan Bank board service prior to applying.

Click here for the preliminary 2025 board meeting schedule. 

 

General Information about the Director Election Process

All FHLBanks are required to follow the Federal Home Loan Bank Act, as amended (FHLBank Act), and the corresponding Federal Housing Finance Agency (Finance Agency) regulations in conducting director elections. The number of independent directors and the number of member directors for each state are determined annually by the Director of the Finance Agency in accordance with the FHLBank Act, which requires an FHLBank’s board to comprise at least a majority, but no more than 60 percent, of member directorships and the remainder as independent directorships.

As in years past, for 2025, the Finance Agency Director has set our board at 14 directors: eight member directorships (one in each of Alabama, District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, and Virginia) and six independent directorships (two of which were designated by the Bank’s board as public interest directorships). Directors serve four-year terms, and the terms of our directors are staggered.

Member directors are required to be officers or directors of one of our current member institutions and are selected through a state-by-state nomination and election process prescribed by the FHLBank Act and Finance Agency regulations. Any member located in the state in which a member directorship is up for election can nominate an officer or director of one of our current member institutions to serve as a member director during the 30-day nomination period. We place all individuals who are properly nominated, qualified (see qualifications above), and who accept their nomination for a member directorship on the voting ballot sent to members in that state. In addition, when voting ballots are sent to members, we also send to each member director nominee information about the institutions entitled to participate in that state’s member directorship election, including their contact information. The voting period for each election is at least 30 days.

Independent directors are nominated by our board and elected at large through a process in which ballots are sent to all members in our district.  Interested individuals may apply during the 30-day application period. When voting ballots are sent to members, we also send to each independent director and public interest independent director nominee information about the institutions entitled to participate in directorship election, including their contact information. The voting period for each election is at least 30 days.

Historically, our board has nominated one individual to be placed on the ballot sent to members for each independent directorship.  It is important for our members to vote for that nominee, even if he/she is the only nominee, due to regulations that require an independent director nominee to receive at least 20% of the outstanding eligible votes to be deemed elected.  

A member may cast one vote for each share of required stock for each open directorship but is limited to the average amount of required stock held by members in its state as of the record date.

If you have questions, please contact Courtney Tobin, Associate General Counsel, at 404.888.5343 or ctobin@fhlbatl.com.

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