Needham Bank’s CEO Elected to Boston’s Federal Home Loan Bank Board of Directors

NEEDHAM, Mass. - Dec. 9, 2013 - PRLog -- Jack McGeorge, Chairman and Chief Executive Officer of Needham Bank, was recently elected to the Board of Directors of the Federal Home Loan Bank of Boston for a four year term expiring December 31, 2017.

“I’m particularly proud to be elected to the Board of the FHLB Boston as I’ve admired for many years the excellent work they do, particularly in the areas of affordable housing and community development. The partnership which has been developed with Needham Bank and with many banks in our region serves as a very real example of what can be done successfully to address the housing needs of low and moderate income families in communities served by member banks. I’m looking forward to joining the Board and working with all of the fine people at FHLB Boston in whatever way I can,” commented McGeorge.

About The Federal Home Loan Bank of Boston

The Federal Home Loan Bank of Boston (www.fhlbboston.com) is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to support the residential-mortgage and community-development lending activities of its members, which include more than 440 financial institutions across New England.

About Needham Bank

Needham Bank, headquartered at 1063 Great Plain Ave. in Needham, MA, is the quintessential community bank, serving Boston and its neighboring communities continuously since 1892. Needham Bank represents the evolution of community banking™, bringing the latest financial products and technologies for our customers, while maintaining an unwavering commitment to the communities served. For more information please visit NeedhamBank.com or call 1-781-444-2100. Needham Bank is a member of FDIC and SIF.

Media inquiries to Eric Morse, Needham Bank; emorse@needhambank.com,  781-474-5955 or to Mark Zelermyer, Federal Home Loan Bank – Boston; mark.zelermyer@fhlbboston.com, 617-292-9750