Federal Home Loan Bank of Chicago Announces Community First Partnership Award Winners in Illinois

CHICAGO, Nov. 2, 2012 /PRNewswire/ -- The Federal Home Loan Bank of Chicago (Bank) is pleased to announce the final winners of its 2012 Community First Partnership Awards. Now in its third year, the awards recognize outstanding achievement in affordable housing and/or community economic development between the Bank's member institutions and non-profit organizations. The Bank also supports community investment and community development efforts through discounted loans for eligible projects and grants through its competitive Affordable Housing Program.

At its regional meeting in Oak Brook, Illinois, the Bank honored two exceptional Illinois partnerships. Facing Forward to End Homelessness (FFEH) received $10,000 in recognition of its partnership with First Eagle Bank to improve the lives of homeless women and families in the Humboldt Park neighborhood of Chicago. Knowing that financial literacy is fundamental to economic self-sufficiency, First Eagle Bank (www.febank.com) offers FFEH clients Smart Money Management workshops. These clients receive the knowledge and skills they need to successfully manage their money, open checking and savings accounts, create monthly and household budgets, and repair or establish credit. Learn more about FFEH on its website, www.ffchicago.org.

The partnership between BMO Harris Bank (www.harrisbank.com) and DuPage Habitat for Humanity (www.dupagehabitat.org) was also recognized for its commitment to affordable housing. BMO Harris supports Habitat partner families in a number of ways, including no-cost mortgage servicing and down payment assistance. BMO Harris has also provided low-cost financing for Habitat development projects, and its employees have volunteered at build sites and served on several Habitat boards. DuPage Habitat for Humanity received $5,000.

"Both of these partnerships showcase what can be accomplished when committed organizations team up for the benefit of an entire community," said Sam Nicita, the Community Investment Officer for the Federal Home Loan Bank of Chicago. "We are proud to support their important work."   

In mid-October, the Bank announced the winning partnerships in Wisconsin; the press release is available on www.fhlbc.com.

About the Federal Home Loan Bank of Chicago
The Federal Home Loan Bank of Chicago is a $66.4 billion wholesale bank serving the needs of member housing finance institutions located in Illinois and Wisconsin. Our mission is to partner with our member shareholders to provide them competitively priced funding, a reasonable return on their investment, and support for community investment activities.

The U.S. Congress created the Federal Home Loan Bank System, which includes 12 Federal Home Loan Banks, in 1932 to promote housing finance, but the Banks are wholly owned by their member institutions.         

SOURCE Federal Home Loan Bank of Chicago