WASHINGTON--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) announced the election of G. Granger MacDonald to FHLB Dallas’ Board of Directors (Board). Mr. MacDonald was elected by the Board to fill an independent director seat that was vacated in April. He will serve out the remainder of the term for that seat, which expires December 31, 2017.

The current chairman of the National Association of Home Builders, Mr. MacDonald is also the chairman and CEO of three multifamily property management and development companies based in Kerrville, Texas: MacDonald Property Management, LLC, MacDonald & Associates, Inc. and G.G. MacDonald, Inc. Mr. MacDonald has developed over 50 multifamily apartment communities throughout Texas during four decades in construction and development.

“I am deeply honored to be appointed to this position at the Federal Home Loan Bank of Dallas,” said Mr. MacDonald. “These are programs that have benefited communities across the country, and I hope to use this opportunity to work closely with member institutions to provide financial products and services that will expand affordable housing opportunities for hard-working American families.”

Mr. MacDonald is a founding member of the Texas Affiliation of Affordable Housing Providers, and he holds memberships in the Texas Association of Builders, the Hill Country Builders Association, Greater San Antonio Builders Association and the Home Builders Association of San Angelo. Mr. MacDonald also currently serves on the board of trustees for Schreiner University.

“It is our pleasure to welcome Granger MacDonald to the FHLB Dallas Board,” said FHLB Dallas President and CEO Sanjay K. Bhasin. “His commitment to affordable housing and the knowledge and experience he brings to the Board will benefit members throughout our District.”

Mr. MacDonald holds a Bachelor of Business Administration degree in Real Estate and Finance from the University of Texas McCombs School of Business. He and his wife, Kathy, live in the Texas Hill Country.

ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 700 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for this year.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 District banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $57.5 billion as of March 31, 2017, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.