Expanding Housing Access and Strengthening Communities: FHLBank Chicago Launches Impact Report
18 Junio 2024 - 10:00AM
Business Wire
New report showcases last year’s contributions
to affordable housing and community development in Illinois and
Wisconsin
The Federal Home Loan Bank of Chicago (FHLBank Chicago) released
its 2023 Impact Report: Investing in Opportunities today, providing
a comprehensive look at the Bank’s support for its financial
institution members and their communities across Illinois and
Wisconsin throughout last year.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240618816016/en/
“Our achievements reflect our steadfast commitment to our
members and their communities,” said Michael Ericson, President and
CEO of FHLBank Chicago. “Our core mission of providing member
liquidity and promoting affordable housing access and community
development is evident. We look forward to investing in
opportunities to grow and enhance our housing and community
development impact for many years to come.”
The report spotlights the Bank’s multipronged approach to
providing liquidity and reliable funding, investing in communities
and fostering an inclusive culture. A few 2023 highlights
include:
- $2.4 billion in discounted lending: The Bank’s
discounted community advances supported housing for more than
15,000 households and the creation or retention of nearly 5,000
jobs.
- $74+ million in community investment: Through several
grant programs, the Bank’s community investment efforts helped
expand affordable housing to over 1,900 families, provide down
payment assistance to nearly 3,600 homebuyers, support over 170
small businesses, fund 30+ diverse fellowships and internships and
support 30 housing counseling agencies with expanded
resources.
- 10 new member institutions: Expanding the membership
base will allow the Bank to offer services and make an impact
across even more communities within the district.
- $12 million to diverse suppliers: As a critical part of
its guiding DEI principles to build stronger communities, the Bank
seeks to support businesses owned by minorities, women, veterans,
people with disabilities and members of the LGBTQ+ community
through its strategic sourcing efforts.
- Encouraging commitment to DEI: Employees demonstrated an
ongoing commitment to DEI, with 91% acting on their DEI
learnings.
FHLBank Chicago showed strong financial strength through market
volatility, meeting all member needs for funding and providing a
source of stability that led to advance balances outstanding of
$65.3 billion, mortgage loans outstanding at $19.1 billion, and
letter of credit commitments at $12.6 billion at year-end 2023.
FHLBank Chicago continues to expand upon this impact into 2024,
already making strides with increased grant funding, new program
launches and more. And, following the November 2023 FHLBank System
at 100: Focusing on the Future Report, FHLBank Chicago will
continue to work with the Federal Housing Finance Agency, Congress,
its Board of Directors, members, and key stakeholders in the year
ahead to continue delivering on its mission for the next 100
years.
Please visit fhlbc.com/impact to read the full
report.
About the Federal Home Loan Bank of Chicago
FHLBank Chicago is a regional bank in the Federal Home Loan Bank
System. FHLBanks are government-sponsored enterprises created by
Congress to ensure access to low-cost funding for their member
financial institutions, with a focus on providing solutions that
support the housing and community development needs of members’
customers. FHLBank Chicago is a self-capitalizing cooperative,
owned by its Illinois and Wisconsin members, including commercial
banks, credit unions, insurance companies, savings institutions and
community development financial institutions. To learn more about
FHLBank Chicago, please visit fhlbc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240618816016/en/
Heather Bockstruck, 312.565.5282 hbockstruck@fhlbc.com