SAN FRANCISCO, Feb. 07, 2023 (Globe NEWSWIRE) — The Federal Household Mortgage Lender of San Francisco has promoted Eric Cicourel to senior vice president and community investment officer. He succeeds Marietta Núñez, who retired at the close of 2022.
Mr. Cicourel joined FHLBank San Francisco in 1999 and has held numerous roles with rising duties in its Community Investment decision Division, most lately as a handling director overseeing the Bank’s Reasonably priced Housing Plan (AHP), which has delivered more than $1.25 billion in grants for improvement of rental and owner-occupied housing and downpayment aid for very first-time homebuyers. All over his tenure with the Lender, Mr. Cicourel has been integrally associated in all facets of the aggressive AHP, including plan growth and implementation, application scoring, compliance, and administrative operations.
As neighborhood investment decision officer, Mr. Cicourel will also be accountable for the Bank’s very affordable housing and economic advancement credit score plans, the Ahead micro grant method, which has delivered $20.3 million in funding to nonprofits that serve decrease-cash flow communities in Arizona, California, and Nevada, and the Good quality Work opportunities Fund, a $100 million collaboration with the New Planet Basis to aid high quality work development, finance smaller company growth, and help career coaching and upskilling in underserved communities throughout the Bank’s district.
“I am very pleased to be main our focused and proficient staff of neighborhood expenditure experts,” claimed Mr. Cicourel. “It is an honor to symbolize the Bank’s determination to partnering with our associates and nonprofits to bolster our communities by introducing to the offer of secure, good quality reasonably priced housing for susceptible populations and developing possibility in economically challenged neighborhoods.”
Mr. Cicourel serves on the board of the California Association of Nearby Housing Finance Companies (CAL- ALHFA). He received a B.A. from the College of California at Berkeley and a M.A. in global affairs from the Faculty of Global and General public Affairs at Columbia College.
“The depth and breadth of awareness and experience that Eric provides to the role of neighborhood expenditure officer is important to our potential to satisfy the Bank’s mission of producing our communities extra vibrant and equitable,” reported Teresa Bryce Bazemore, FHLBank San Francisco’s president and CEO. “On behalf of the board and the Bank’s management crew, I’d like to categorical our gratitude to Marietta Núñez for her quite a few contributions to the achievement of the Bank’s community expenditure plan.”
Federal Household Financial loan Financial institution of San Francisco
The Federal Property Mortgage Bank of San Francisco is a member-pushed cooperative aiding local creditors in Arizona, California, and Nevada build robust communities, generate chance, and modify life for the far better. Our member financial institutions–commercial banking institutions, credit unions, industrial mortgage companies, personal savings establishments, insurance coverage companies, and community development financial institutions–rely on us to produce prompt obtain to low-price funding, chance administration tools, and means for inexpensive housing and group economic improvement. With each other with our associates and other partners, we are making the communities we serve more vibrant, equitable, and resilient.
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