Community Advances
The Federal Home Loan Bank of Chicago offers credit products to support our members’ community lending initiatives. Our standby letters of credit provide credit enhancement for bond issuance or performance guarantees (for more information, visit our letters of credit page). Our Community Advances:
- Are available in maturities from one month to 10 years (longer maturities may be available)
- Are priced below our regular market rates
- Have the same advance plans, collateral, stock requirements, and prepayment fees as standard advances
Advance term and overall member Community Advance portfolio limits may apply. Rates are listed on FHLBank Chicago's daily rate indications under the Community Advances column.
Pilot Programs and Voluntary Programs
FHLBank Chicago also offers pilot and voluntary programs to address unique and local community development opportunities, including advances that further support identified community needs across Illinois and Wisconsin are available under these programs.