Newly Elected FHLB Board Member Teachworth Discusses Priorities for Credit Union Representation

Credit union clout in the Federal Home Loan Bank system reaches a new milestone in January — at least in the Seattle Bank. That’s when Bob Teachworth takes his seat on the board, becoming the second credit union executive elected to serve in the Northwest region. BECU’s Benson Porter was elected to the board in 2012.

FHLB board members represent areas such as banking, housing and community development, and accounting.

Teachworth, president and CEO of Denali Alaskan Federal Credit Union, was elected to serve a four-year term representing Alaska. He is replacing a banker – Alaska Pacific Bancshares CEO Craig Dahl.

“The FHLB is an important funding source for many of Alaska’s credit unions and banks, which they use to fuel the Alaska economy thought prudent lending,” Teachworth says. While he was elected to represent Alaska financial institutions, he understands the role of a board member is to safeguard the industry much more broadly.

“My role as a board member of the Seattle FHLB will be to represent not only the eight credit unions and five community banks in Alaska, but also more than 80 credit unions in Hawaii, Idaho, Montana, Oregon, Utah, Washington, Wyoming, American Samoa, Guam, and the Northern Mariana Islands,” Teachworth says. He adds that in the Seattle bank, credit union membership is one of the fastest growing segments.

Teachworth brings an impressive resume to the FHLB, with 38 years of financial experience, including nearly a quarter-century of corner-office leadership. Teachworth served as chair of a credit union league for eight years and holds Masters degrees in business administration and global finance.

“FHLB serves as a primary liquidity source prior to going to the Corporate Credit Unions, the Discount Window or the Central Liquidity Fund. Many institutions also use it for safekeeping of our investment securities,” Teachworth says, adding that national credit union participation in the FHLB system is important to safeguard the resource “for the betterment of the industry.”

More information on the recent elections and committee appointments is available on the FHLB’s website.

 

Questions? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

Posted in Federal.