Great Northwest in Home Loan Program

Great Northwest Bank, Bremerton, Wash., is providing $13 million in mortgages for middle-income families with a loan from the Federal Home Loan Bank of Seattle.

Great Northwest, a $617 million-asset thrift, is extending 216 home loans with the funds it drew from a $250 million community investment fund maintained by the Seattle Home Loan Bank.

Each of the 12 regional Home Loan banks maintains its own community investment fund. Under guidelines set by Congress, member financial institutions may borrow from these funds and relend the proceeds to people whose incomes do not exceed 115% of the area median.

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