SEATTLE (12/5/13)--Credit unions have another seat at the table of the Federal Home Loan Bank of Seattle.
The board announced the results of its 2013 board of director elections this week. Bob Teachworth, president/CEO, Denali Alaskan FCU, will represent Alaska for a four-year term beginning Jan. 1.
Teachworth, who leads a $519 million-asset credit union in Anchorage, joins another credit union professional--Benson Porter, president/CEO of BECU, a $11.5 billion-asset credit union in Tukwila, Wash.
In 2012, Porter became the first credit union representative on the board, which serves more than 300 financial institutions with liquidity funding. Porter represents the state of Washington and his term ends in 2016.
Teachworth assumes the seat currently held by Craig Dahl, president/CEO/director of Alaska Pacific Bancshares, Juneau, Alaska.
Every Federal Home Loan Bank has its own elected board of directors, representing areas such as banking, accounting, housing and community development. Directors serve four-year terms and may not serve more than three consecutive terms.