Federal Home Loan Bank of San Francisco helps meet the borrowing needs of communities by providing wholesale credit products and services to member financial institutions. The bank is privately owned by its members, which include commercial banks, savings institutions, credit unions, thrift and loan companies and insurance companies headquartered in Arizona, California and Nevada. It is part of a network of more than 10 regional Federal Home Loan Banks chartered by Congress in 1932 to provide low-cost credit to residential housing lenders. Federal Home Loan Bank makes credit available so local financial institutions can make home mortgage, commercial real estate, small business and other loans. The company also contributes 10 percent of its income to the Affordable Housing Program, which provides grants to create affordable housing for lower-income households.