Members have the option of naming the FHLB Chicago as their correspondent with the Federal Reserve Bank. After a member names the FHLB Chicago as its correspondent, the FHLB Chicago will settle that member's ACH transactions, direct deposits, check presentments, FRB borrowings, and coin/currency. Settlement debts and credits pass through the FHLB Chicago's account at the FRB and are then processed to the member's DID account as a same-day settlement.

FRB Correspondent Settlement Fees
	Current
Per Transaction Settlement	$ 0.00
Monthly Service Fee	$ 30.00 per month for any account settling FRB transactions

Automated Clearing House (ACH)

ACH Settlement: Automated Clearing House settles out of a member's DID account. Convenient for:

• Payroll, vendor, utility, and rent payments

• Funding FHLB Chicago accounts such as monthly remittance, custodial mortgage accounts, and MPF accounts.

ACH transmissions are secure, encrypted, and are compliant with Federal Reserve Bank (FRB) and National Automated Caring House Association (NACHA) requirements. There are no forms required to use this service, which makes ACH transactions all the more convenient.

ACH Fees
	Current
ACH Settlement	$ 0.40 per transaction
Monthly Service Fee	$ 5.00 per monthly for any account settling ACH transactions

Check Processing and Settlement - Discontinued Effective 02/01/2012