CUs Retain Representation on FHLB San Francisco Board

L-R: Joan Opp, CEO of Stanford FCU; and Marangal “Marito” Domingo, Chief Credit Officer and CFO of First Tech CU
L-R: Joan Opp, CEO of Stanford FCU; and Marangal “Marito” Domingo, Chief Credit Officer and CFO of First Tech CU

Credit unions have made their voice heard! Joan Opp (CEO of Stanford FCU) and Marangal “Marito” Domingo (Chief Credit Officer and CFO of First Tech CU) were voted in as Member Directors to the Federal Home Loan Bank of San Francisco Board of Directors during last month’s 2021 election.

This election was contested in early November, with voting closed on Nov. 30. One other candidate was on the ballot (a non-credit union individual).

Opp and Domingo's continued presence on the FHLB San Francisco board is ESSENTIAL to the credit union industry in California and Nevada.

Nearly 50 percent of 280 eligible financial institutions voted (136), and there is no doubt credit unions represent a substantial majority of this figure. With the help of many voting members in the FHLB San Francisco district, credit union leaders have ensured the movement’s presence on the board and retained influence.

In total, four seats were voted on. Each carries a four-year term beginning Jan. 1, 2022 and ending Dec. 31, 2025. You can view the 2021 Elections Results.

The California and Nevada Credit Union Leagues know that Opp and Domingo will continue working hard to represent the members’ interest on FHLB initiatives.

The Leagues would like to THANK all credit unions involved for their support!

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