Federal Home Loan Bank of Chicago Awards $250K

August 20, 2018

The Federal Home Loan Bank of Chicago (FHLBank Chicago) is pleased to announce $250,000 was granted through its Community First® Capacity-Building Grant Program to seven nonprofit lenders in Illinois and Wisconsin.

Below is a list of award recipients and the member financial institution with whom they partnered in the application process.

RecipientMember Institution
Bridge Investment Community Development CorporationMWABank
Community Reinvestment Fund, USAHinsdale Bank & Trust Company
Hmong Wisconsin Chamber of CommerceTown Bank
Local Initiatives Support Corporation - Greater PeoriaHeartland Bank and Trust Company
Local Initiatives Support Corporation - MilwaukeeAssociated Banks Corp.
Regional Business Fund, Inc.AbbyBank
TRP Lending, LLCBMO Harris Bank, N.A.

The program is in its second year and is intended to strengthen community development in Illinois and Wisconsin. “Our communities prosper when there is opportunity for all,” said Suzi Thackston, FHLBank Chicago Community Investment Officer. “We are proud to recognize and support seven nonprofit lending institutions that are committed to empowering and investing in diverse and underserved people, places, and businesses. We look forward to seeing the return on our investments in these organizations and on the expansion of resources in the communities of our members.”

Through this unique program, nonprofit lenders will use the funds to support the enhancement of management information systems, market research to expand existing programs, improving lending policies and procedures, and to support professional development of staff and boards of directors.

Recipients were evaluated based on the organization’s mission, strength, strategy to increase community development lending within Illinois and Wisconsin, diversity of population served, and proposed uses for the grant funds.

About the Federal Home Loan Bank of Chicago

To learn more about the FHLBank Chicago and its full range of Community Investment programs, please visit www.fhlbc.com or @FHLBC. "Community First" is a registered trademark of the FHLBank Chicago.

Article content obtained from a press release dated August 1, 2018 from the Federal Home Loan Bank of Chicago.