FHLBank Chicago Releases 2024 Community Investment Advisory Council Report

CHICAGO--(BUSINESS WIRE)--The Federal Home Loan Bank of Chicago (FHLBank Chicago) recently released its 2024 Community Investment Advisory Council (CIAC) Report, highlighting the impact of the Bank’s community investment programs and the leadership of its CIAC. The CIAC is composed of housing and economic development leaders from across Illinois and Wisconsin who help ensure FHLBank Chicago’s community investment programs align with local needs and achieve intended impact objectives.

In 2024, FHLBank Chicago partnered with its member financial institutions and community organizations to expand access to affordable housing, support small businesses, and strengthen local economies—delivering $107 million in housing and economic development grant funding and supporting more than $1.9 billion in discounted community lending through its Community Advances Program.

“The challenges across our district are complex and varied, but a common thread in every solution is the power of partnerships,” said David Porterfield, Chair of the Community Investment Advisory Council. “FHLBank Chicago’s collaboration with members, community stakeholders, funders, and all levels of government—along with the CIAC—helps ensure its programs are well-informed by industry expertise and best practices. The partnerships between the FHLBank Chicago members, community development practitioners and the communities they serve are currently facing unprecedented change that offers both increased risks and new opportunities.”

The report features data and examples that show how FHLBank Chicago’s community investment products are helping meet the evolving needs of communities across the district. Read the full 2024 Community Investment Advisory Council Report to learn more.

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.