Membership in the FHLBank System is available to insured depositories and certain other financial institutions. As of December 31, 2023, total membership was 6,504, comprised of 3,675 commercial banks, 556 savings institutions, 1,623 credit unions, 579 insurance companies, and 71 community development financial institutions (CDFIs).
Each member is a shareholder in one of the 11 regional FHLBanks, which are privately capitalized, separate corporate entities operating in a cooperative structure.