Jim Hunt Elected to Federal Home Loan Bank Board
As Rob Stuart will not seek reelection, OnPoint’s Jim Hunt will maintain credit unions’ presence on the board.
In 2016, Oregon financial industry leaders elected OnPoint Community Credit Union President and CEO, Rob Stuart, to serve on the Board of Directors of the Federal Home Loan Bank Des Moines. It was the first time in 10 years a credit union leader represented Oregon’s on the board. The position had previously been held by a banker.
As Stuart is not seeking reelection, he endorsed his colleague Jim Hunt, the credit union’s Senior Vice President and Chief Financial Officer. Hunt ran for the seat unopposed and will begin his four-year term in January 2021.
Hunt has been the CFO at OnPoint for 11 years, overseeing the treasury and accounting functions as well as its mortgage operations. He spent eight years at Washington Mutual Bank, and 14 years at the Fleet Mortgage Group in South Carolina. He is both a Certified Public Accountant and a Chartered Financial Analyst.
FHLB Des Moines is one of 11 regional banks in the FHLB system, representing 13 states and three Pacific Territories. Member financial institutions benefit from access to a variety of products and services that help lower funding costs, mitigate risk, improve asset and liability management, and serve community needs – such as affordable housing for low-to-moderate income consumers.
“As a new board member, I will continue Rob’s work to represent credit unions,” Hunt said. “I will work to ensure the FHLB runs as efficiently as possible and will encourage further development of affordable housing programs.”
The Northwest Credit Union Association supports credit union representation on the FHLB Board.
“We are grateful for Rob’s dedication and expertise to the Board,” said NWCUA President and CEO, Troy Stang. “His credit union representation was essential to the industry, as the Board is an important resource for community-based financial institutions. Jim will seamlessly continue that endeavor. He served in the financial services industry for more than 30 years in leadership positions that have prepared him well to serve on the FHLB Board.”
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