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Federal Home Loan Bank of Atlanta Announces Results of 2021 Director Election

Peter E. Garuccio
Federal Home Loan Bank of Atlanta 


Federal Home Loan Bank of Atlanta Announces Results of 2021 Director Election


ATLANTA, November 17, 2021 – Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced the results of the 2021 director election. The Bank conducted an election to fill the member directorships for Alabama and the District of Columbia, and one public interest independent directorship representing members across FHLBank Atlanta’s district. All of the directors-elect will begin a four-year term commencing on January 1, 2022.

Jimmy Stubbs was elected to serve as the member director representing the state of Alabama, William L. “Chip” Lusk, Jr. was elected to serve as the member director for the District of Columbia, and Brian McLaughlin was elected to serve as a public interest independent director.

Mr. Stubbs is chief executive officer and director of River Bank & Trust in Prattville, Alabama. Under his leadership, the bank was formed in 2006 and is one of the largest community banks headquartered in Alabama, with total assets of $2.3 billion. Mr. Stubbs has been a community banker in Alabama for more than 35 years and recently completed a term as chairman of the Alabama Bankers Association. He presently serves as a board member for several business and civic organizations, including the Business Council of Alabama, the Montgomery Area Committee of 100, the Montgomery Area Committee for the Arts, the Montgomery Area Chamber of Commerce, and the YMCA of Montgomery Endowment Foundation. Mr. Stubbs is a Leadership Alabama Class of 2007 alumnus and a member of the River Region United Way's Tocqueville Society and the Wetumpka Lions Club. He is a lifetime member of the Auburn Alumni Association and the Alabama Cattlemen's Association. Mr. Stubbs earned his bachelor's degree from Auburn University and an executive MBA from Troy University.

Mr. Lusk is chief executive officer of IDB Global Federal Credit Union in Washington, DC. With over $700 million in assets and more than 10,000 members, IDB Global serves the Inter-American Development Bank community in over 75 countries and was named one of the Top 200 Healthiest Credit Unions in the U.S. in 2020 and 2021. Prior to leading IDB Global, Mr. Lusk was chief operating officer and chief financial officer for Georgia’s Own Credit Union in Atlanta, and he held leadership positions with FSGBank, NA and Pioneer Bank, both of which were in Chattanooga, Tennessee. He is currently a member of the District of Columbia Financial Literacy Council, a board member of the DC Credit Union Foundation, and a member of the Finastra Phoenix Client Advisory Board. Previously, Mr. Lusk served on the Habitat for Humanity Board, the YoungLife Committee, the Episcopal Migration Ministries, and the Rotary Club. He earned his bachelor’s degree from the University of Georgia and an MBA from the University of Tennessee.

Mr. McLaughlin is president of Enterprise Community Development, Inc. in Baltimore. With a portfolio valuation of over $1 billion spanning 115 communities across the Mid-Atlantic and serving almost 22,000 residents, Enterprise Community Development is the nation’s sixth-largest affordable housing nonprofit owner and seventh-largest developer, representing one of three divisions of Enterprise Community Partners. Enterprise Community Partners is a national nonprofit that develops community-based programs, advocates for affordable housing policy, and invests capital to build and preserve affordable homes. Mr. McLaughlin has served over his 24-year career in various technical and leadership roles in mission driven organizations seeking to expand housing and economic opportunity, including eight years at Fannie Mae in roles including leading the company’s short sale product line during the Great Recession and serving as special assistant to the president and chief executive officer. Mr. McLaughlin has been recognized for his work to extend financing products to small and neighborhood-based businesses in Maryland during his tenure at the state’s Department of Housing and Community Development, where he led its largest division of government responsible for neighborhood revitalization programs and investment. He has served on the boards of multiple organizations including the Neighborhood Housing Services of Baltimore, the Fund for Educational Excellence, the Community Preservation and Development Corporation, and the Northern Virginia Affordable Housing Alliance. He earned his bachelor’s degree from Duke University with honors, a master’s degree in City Planning from MIT, and a master’s degree in Economics from American University.

“We are excited to have all three of these well-qualified individuals join our board,” said FHLBank Atlanta Chair of the Board of Directors, Rick Whaley. “I have no doubt Mr. Stubbs and Mr. Lusk will rely on the full depth and breadth of their individual experiences in representing the members from their states, and Mr. McLaughlin’s background and experience will help ensure we maintain a well-rounded view of the credit and housing finance needs of consumers and communities across our district,” said Whaley.

About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district Banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $7 billion in Affordable Housing Program funds, assisting more than 990,000 households.

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