Federal Home Loan Banks' Mission Activities Act

This bill expands the Federal Home Loan Banks' (FHLBs) ability to support community-focused lending by explicitly allowing grants alongside loans and broadening eligible members to include credit unions and community development financial institutions (CDFIs). It requires FHLBs to dedicate 30% of annual net income toward affordable housing and community development (through 2025), with up to 15% allocated for non-competitive grants in low-income, Tribal, or rural areas. The bill also ties executive compensation to mission achievements, such as community investment metrics and affordable housing support. These changes directly affect FHLB members like credit unions, CDFIs, and housing finance agencies by increasing access to subsidized financing and grants for low-income housing and community development.