Rick Wyman, President of Meredith Village Savings Bank (MVSB), was recently elected to the board of directors for the Federal Home Loan Bank of Boston (FHLBank Boston).
Governed by a 17-person board, members are elected by FHLBank Boston member institutions for four- year terms. Together with its member institutions, the Federal Home Loan Bank System represents the largest collective source of home mortgage and community credit in the U.S. The System ensures that members provide stable, on-demand, low-cost funding to its communities through home mortgages and lending for small business as well as rural, agricultural and economic development.
Federal Home Loan Banks were established by the Federal Home Loan Bank Act in 1932. The 11 Federal Home Loan Banks are located throughout the country in Atlanta, Boston, Chicago, Cincinnati, Dallas, Des Moines, Indianapolis, New York, Pittsburgh, San Francisco and Topeka. The FHLBank Boston is cooperatively owned by more than 440 New England financial institutions, including Meredith Village Savings Bank.
“I’m humbled to have been selected to serve on the Federal Home Loan Bank of Boston Board,” said Wyman. “They provide highly reliable wholesale funding, liquidity and a competitive return on investment to member institutions. As an experienced member for over 30 years, I understand firsthand the importance of maintaining a healthy FHLB system. I look forward to working with FHLBank Boston to maintain their critical position in the financial system for many years to come. It’s crucial that FHLBank Boston continues to meet their members’ liquidity needs, increase earnings to attain capital strength and provide dividends for ownership stock. Their strength ensures the economic health and well-being of our local communities.”
Wyman also serves as Executive Vice President of New Hampshire Mutual Bancorp (NHMB). New Hampshire Mutual Bancorp, a mutual holding company, was formed in 2013 when two New Hampshire-based community banks, Meredith Village Savings Bank and Merrimack County Savings Bank, formally affiliated – the first relationship of its kind in New Hampshire. This strategic partnership has positioned the Banks to leverage each other’s strengths as they work together to advance a shared vision of maintaining and enhancing their community banking standards and values. MillRiver Wealth Management joined as a third subsidiary of NHMB in 2015, combining the financial advisory divisions of MVSB and The Merrimack. In July 2018, Savings Bank of Walpole joined as a fourth subsidiary.
Wyman previously served on the FHLBank Boston’s Member Advisory Panel from 2007 to 2016. He was also recently appointed to the NH Community Development Finance Authority (CDFA) by Governor Christopher Sununu. Currently, he is on the boards for Granite United Way, the New England Automated Clearing House Association (NEACH) and Lakes Region Mental Health Center (formerly Genesis Behavioral Health), as a member of its Finance Committee. Previously, he served as Treasurer and Chair of the Finance committee for the Lakes Region Mental Health Center. He was also a member of the Lakes Region Advisory Board of the New Hampshire Charitable Foundation’s State Fiscal Policy Committee; the Board of Trustees for the Spaulding Youth Center; Laconia Main Street project; the Lakes Region United Way; and Board of Directors of the BelknapEDC. He is a graduate and past Board Member of Leadership Lakes Region, as well as a graduate of Leadership New Hampshire.