The Community Investment Group of the FHLB Chicago provides financing and direct funding tools that support the affordable housing and local community lending initiatives of our members. By using our products individually or in combination, our members and their community partners can create economically competitive solutions that contribute to the quality of life in the communities they serve.
The FHLB Chicago DPP® Program provides grants to very low, low, and moderate income home buyers to assist them with down payment and closing costs. Learn more.
The CEDA Program provides discounted advances and standby letters of credit to members for community economic development projects. Learn more.
Community Support Statements
To maintain access to Federal Home Loan Bank long-term credit and Community Investment products, members of the FHLB Chicago are required to submit a Community Support Statement (CSS) to the Federal Housing Finance Agency (FHFA) every two years to document their CRA performance and record of lending to first-time homebuyers. The FHFA publishes the members selected for review in a Federal Register notice every quarter.
As required by the Community Support Regulations, the FHLB Chicago provides written notice to each of its members selected for CSS review. Included in the notification is a CSS form with instructions and the date that the completed form is due back to the FHFA. The deadline for submission of a CSS to the FHFA is generally 45 calendar days after the date of publication of the notice in the Federal Register. Non-profits and other housing advocates in the FHLB Chicago’s district are also notified by the FHLB Chicago in case they wish to comment on a member's record.
If a member does not submit a CSS or fails to meet the CSS requirements (see Community Support Requirements above), the Finance Agency requires that the FHLB Chicago restrict the member's access to FHLB Chicago services and products. Once access is restricted, the member cannot borrow advances for longer than one year or access any of the Community Investment programs, including the Affordable Housing Program (AHP), Downpayment Plus® Program (DPP®) or Community Investment Cash Advance (CICA) advances. The restriction can be lifted by submission of a CSS that meets the FHFA requirements.
If you have any questions, please contact
our Community Investment staff. The completed statement should be mailed to the FHFA at the address listed below, or emailed to firstname.lastname@example.org
by the deadline given to you in the notification letter.
Division of Housing Mission and Goals
400 Seventh Street, SW
Washington, DC 20024