FHLBank Chicago Awards Funds to Diverse Developers Through Diverse Developer Grant Program

  • September 13, 2022

The Federal Home Loan Bank of Chicago (FHLBank Chicago) is awarding nearly $1 million of a $3 million commitment to increase the numbers and knowledge base of emerging diverse developers in Illinois and Wisconsin. Through the Community First® Diverse Developer Initiative, eight organizations will receive funds to support compensation for internships and fellowships, skills training for emerging developers, and support organizations with the long range mission to expand the pipeline of diverse developers in Illinois and Wisconsin.

This year, FHLBank Chicago received 32 applications from 14 different member institutions. We are excited to announce the following grant recipients:

OrganizationMember NameUse of Funds
AHDVS, LLCCinnaire Lending CorporationFellowships/Internships Training, Mission Driven Investments

Community First MKE

Cinnaire Lending Corporation

Fellowships/Internships, Mission Driven Investments
DL3 Realty Advisors, LLC   
Chicago Community Loan Fund   
Fellowships/Internships Training, Mission Driven Investments   

Housing Opportunity Development Corp.

Northbrook Bank & Trust Company, N.A.

Internships and Fellowships
KG Development Group   
BMO Harris Bank N.A.   
Training, Mission Driven Investments   

King Solutions LLC

Bay Bank

Mission Driven Investment
Madison Development Corporation    
Monona Bank   
Mission Driven Investment   

Rule Enterprises

Cinnaire Lending Corporation

Mission Driven Investment


For questions or more information, please contact our Community Investment team at ci@fhlbc.com or 312.565.5824.

Contact Us

Please direct all media inquiries to:

Casey Reidy 
Director, Communications 

Heather Bockstruck
Assistant Director, Communications