Correspondent Settlement

​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, and FRB borrowings. 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.

Federal Reserve Bank (FRB) Correspondent Settlement Fees

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