Liquidity You Can Count On
As a member-owned cooperative, the FHLB Chicago offers a stable source of short-and longer-term funding, access to the secondary mortgage market, and housing finance products
that help credit unions serve their members and communities in Illinois and Wisconsin.
Reliable and Low-Cost Funding
We make loans with maturities from one day to 10 years or longer to our members called "advances," which are flexible enough to meet the unique needs of credit union members and can be used to:
- Fund your loan growth with cash flow schedules and maturities to match auto, consumer, and mortgage loans;
- Provide a strong and reliable back-up source of liquidity;
- Manage your balance sheet's duration gap and other asset/liability strategies via fixed, floating or other structured advances.
Access to the Secondary Mortgage Market
Our MPF Xtra® product is another important tool available to members:
- Provides an alternative to holding fixed-rate mortgage loans in portfolio, which creates additional flexibility for participating members' balance sheets.
- Participating members retain the servicing rights and thus, their important customer relationships, while earning servicing fee income.
Grant Programs to Help Your Community
We provide financing and direct funding tools that support 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 contribute to the quality of life in the communities they serve. In addition, we offer letters of credit and other off-balance sheet products and services to help our members in various ways. Learn more.
"The FHLB Chicago is a natural fit for our credit union and a great source for liquidity and balance sheet funding." - Fox Communities Credit Union Management Team, Appleton, WI