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 at the FHLBank Chicago’s cost of funds
- Have the same advance plans, collateral, stock requirements, and prepayment fees as standard advances
- Are always available and do not require the applicant to compete for funds
Advance term and overall member Community Advance portfolio limits may apply. Rates are listed on the FHLBank Chicago's daily rate indications under the Community Advances column.