Overview of the Community Impact Advance Pilot Program 

Available beginning July 16, 2024

The Community Impact Advance Pilot Program (Program) is an advance product that allows members and housing associates to borrow at 50 to 200 basis points (bps) below regular advance interest rates to support affordable housing, economic development, and community partners in Illinois and Wisconsin. The program will open on July 16, 2024, and run through June 30, 2027, with a total of $50 million in interest rate subsidies available to members.

Benefits of the Community Impact Advance:

  • Potential Community Reinvestment Act (CRA) credit
  • Discounted funding, up to 200 bps, off regular advance interest rates
  • Amplify your support of community development activities
  • Develop new or strengthen existing customer relationships
  • Enhance relations with underserved communities and expand your community reach

FHLBank Chicago members can execute a Community Impact Advance by calling the Member Transaction Desk at 855.345.2244, option 1.  

Additional Program Details

How to Participate
Use of Proceeds
Advance Parameters
Interest Rate Subsidy Reservation
Community Impact Reporting
Pilot Transparency
Learn More in eBanking