Alfred A. DelliBovi is piloting his Ford Explorer through the working- class neighborhood where he grew up, in the Astoria section of New York's Borough of Queens. He pulls to a stop in front of Western Queens Community Hospital.

"This is what we do," says the president of the Federal Home Loan Bank of New York, pointing to the hospital's west wing, which has had a $3 million renovation under the bank's Community Investment Program. "These areas need banking services and capital, and we are here - through our members - to serve them."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.