Deposits

12 Months Ended

Dec. 31, 2019

Deposits

We offer demand, overnight and term deposits for members and qualifying nonmembers. Members that service mortgage loans may deposit funds collected in connection with mortgage loans pending disbursement of such funds to the owners of the mortgage loans, which we classify as "other" in the following table.

Deposits classified as demand, overnight, and other pay interest based on a daily interest rate. Term deposits pay interest based on a fixed rate determined at the issuance of the deposit. The average interest rate paid on average deposits during 2019 and 2018 was 1.16 percent and 1.07 percent, respectively.

Table 13.1 - Deposits (dollars in thousands)

	December 31, 2019		December 31, 2018
Interest-bearing
Demand and overnight	$	613,143	$	444,486
Term	800		800
Other	2,589		2,961
Noninterest-bearing
Other	57,777		26,631
Total deposits	$	674,309	$	474,878