The Federal Home Loan Bank of Chicago (FHLBank Chicago) is awarding $300,000 through its Community First® Capacity-Building Grant Program to six nonprofit community development lenders working in Illinois or Wisconsin. In partnership with our members, these grant recipients serve diverse communities across the district, from downstate Illinois to Northern Wisconsin.
Below is a list of the grant recipients and FHLBank Chicago member financial institutions with whom they partnered with to receive a grant. Grants are used to help strengthen a nonprofit community development lender’s financial position, operational efficiency, and/or human capital to support the affordable housing and/or economic development programs the organization provides to the local communities in which they, and the member financial institution, serve.
Recipient Member Institution
Bridge Investment Community Sauk Valley Bank
Greenwood Archer Capital Associated Bank
Habitat for Humanity Chicago BMO Harris Bank
LISC Central Illinois Heartland Bank & Trust Company
LISC Milwaukee Associated Bank
Wisconsin Native Loan Fund Bay Bank
Community First Capacity-Building Grant Program funds provide critical operational support, allowing awardees to maximize community impact on behalf of their borrowers. This year’s award recipients are using grant funds to develop marketing initiatives to reach target populations, implement technology and system enhancements to more effectively serve borrowers, and to support staff training in community development finance. Recipients were evaluated based on mission, strategy to increase community development lending within Illinois and Wisconsin, and proposed outcomes.
About the Federal Home Loan Bank of Chicago
The mission of the Federal Home Loan Bank of Chicago is to partner with our member institutions in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities. FHLBank Chicago is one of 11 Federal Home Loan Banks chartered by the U.S. Congress in 1932 to promote homeownership. Our members include banks, thrifts, credit unions, insurance companies, and community development financial institutions throughout our District. To learn more about FHLBank Chicago, please visit fhlbc.com or follow us on Twitter, Facebook and LinkedIn. “Community First” is a registered trademark of the Federal Home Loan Bank of Chicago.