Columbia Bank announced a major victory for affordable housing in New Jersey, successfully sponsoring ten projects that were awarded $6,730,500 through the Federal Home Loan Bank of New York’s (FHLBNY) August 2025 Affordable Housing Program (AHP).
The substantial subsidy will directly support the development and rehabilitation of 190 housing units across the state, with a focus on addressing housing stability, senior living needs, veteran support, and critical home repairs. This achievement coincides with a record-breaking FHLBNY funding round that saw $86.3 million distributed to 75 initiatives across the country.
“Through the projects we’ve sponsored, 190 safe and affordable homes will soon be available for New Jersey residents, showcasing the power of strong partnerships to address our state’s housing shortage,” Thomas Kemly, President and CEO of Columbia Bank said.
Bridging resources with community needs
Columbia Bank’s role as a sponsor was essential in securing the competitive AHP funding, which is taken directly from the FHLBNY’s earnings. The bank partnered with various non-profits and housing agencies, demonstrating a strategic focus on diverse community needs.
Randolph Snook, president and CEO of the FHLBNY, commended the local bank’s efforts: “The success of the FHLBNY’s Affordable Housing Program is driven by our members, the local lenders that know the needs of the communities they serve and partner with us to bring funding to help meet these needs.”
Funded projects span critical housing sectors
The ten New Jersey projects sponsored by Columbia Bank cover a wide geographical area and address distinct populations:
