Federal Home Loan Bank of Chicago Awards More Than $900,000 Through Its Community First® Capacity-Building Grant Program

CHICAGO, Aug. 24, 2020 /PRNewswire/ -- The Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced more than $900,000 was awarded through its Community First^® Capacity-Building Grant Program to 21 nonprofit community development lenders working in Illinois or Wisconsin.

Below is a list of the grant recipients and the 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.

"Through our Community First Capacity-Building Grant Program, we are investing in the strength of nonprofit community development lenders," said Katie Naftzger, Community Investment Officer, FHLBank Chicago. "Now more than ever, nonprofit lenders are providing critical products and services to diverse communities throughout Illinois and Wisconsin. We look forward to seeing the social and economic return on these investments in the communities our members serve."

This year's award recipients are using the funds to support the development and expansion of loan products, information technology upgrades, improvements to organizational policies and procedures, and the professional development of staff and boards of directors. Recipients were evaluated based on mission, strategy to increase community development lending with­in Illinois and Wisconsin, diversity of populations served, and proposed uses for the grant funds.

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 @FHLBC on Twitter. "Community First" is a registered trademark of the Federal Home Loan Bank of Chicago.

SOURCE Federal Home Loan Bank of Chicago

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