Anders M. Tomson, president and chief executive officer of Chemung Canal Trust Company, was recently elected to the Federal Home Loan Bank of New York’s (FHLBNY) Board of Directors. Tomson assumed his role on Jan. 1, 2024, with a term of four years.
“The FHLBNY is a dedicated and trusted partner with our region’s financial institutions and the communities they serve,” said Tomson, adding, “I am honored to join the Board and I look forward to working with the team of Directors to ensure the continued success of the FHLBNY.”
The FHLBNY is a Congressionally chartered wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional stockholder-owned banks. As of Sept. 30, 2023, the FHLBNY served 334 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands with the mission to provide members reliable liquidity in support of housing and local community development.
Chemung Canal Trust Company, headquartered in Elmira, N.Y., is a full-service community bank with full trust powers. Established in 1833, Chemung Canal Trust Company is the oldest locally owned and managed community bank in New York State.
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