2009 Member News
Month-End Statements from the Seattle Bank
October 26, 2009
Dear Seattle Bank Members,
Over the past few years, the Seattle Bank has increasingly relied on online technology
to facilitate our communications with our members. As is the case for most companies,
the broad acceptance of email and the Web, coupled with increasing printing and
postage costs and a desire to be more environmentally conscious, has made online
media an extremely attractive alternative to print for many types of communications.
With the launch of our Web-based Online Services application in the spring of 2008,
your institution’s monthly statements have been available online, on the first business
day of the month, in both a printable and a downloadable format. Your institution’s
monthly statement will continue to be available online at no charge to your institution.
Effective January 31, 2010, however, the bank will begin charging a fee of $65.00
per month for each printed statement.
If you wish to continue receiving a printed statement, please contact our Member
Services Department on or before January 31, 2010, to request that your statements
be mailed and to make arrangements for billing. As is currently the case, you will
be able to expect delivery during the first few days of each month.
If you wish to view your statements online, but need help gaining access, please
contact a Member Services representative. We can help your institution gain access
to Online Services or direct your users to the individual at your institution who
can help.
If there are individuals at your institution who would like additional training
on using Online Services, they can do so at any time by viewing the achieved presentation
“Getting Started with Online Services,” which is available on the Events page on
Seattle Bank’s Web site (www.fhlbsea.com). Alternatively, any of our Member Services
representatives can guide you through the process.
Please contact our Member Services team at 800.426.7538 or 206.340.8666 or by email
at Member-Services@fhlbsea.com. We are happy to assist with your request.
Sincerely,
Richard M. Riccobono
President and CEO
This Member News contains forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties. Actual performance may differ materially from that expected or implied in forward-looking statements because of many factors. Such factors may include, but are not limited to, changes in general economic and market conditions (including effects on, among other things, mortgage-related securities), the Seattle Bank's ability to meet adequate capital levels, regulatory and legislative actions and approvals (including those of the Finance Agency), business and capital plan adjustments and amendments, accounting adjustments or requirements (including changes in assumptions and estimates used in our financial models), demand for advances, changes in our membership profile or the withdrawal of one or more large members, shifts in demand for our products and consolidated obligations, competitive pressure from other Federal Home Loan Banks and alternative funding sources, interest-rate volatility, changes in projected business volumes, our ability to appropriately manage our cost of funds, and the cost-effectiveness of our funding, hedging and asset-liability management activities. Additional factors are discussed in the Seattle Bank's 2008 annual report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the SEC. The Seattle Bank does not undertake to update any forward-looking statements made in this announcement.
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