FHLBank Chicago Announces Results of 2025 Director Election

CHICAGO--(BUSINESS WIRE)--The Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced the results of its 2025 director election. Members elected one director from Wisconsin, one independent director and one public interest independent director. Each director will serve a four-year term beginning Jan. 1, 2026.

Wisconsin members elected Bradley J. Schroeder. Schroeder is chairman, president and chief executive officer of DMB Community Bank, an $830 million commercial bank headquartered in Madison, Wisconsin. Since 2006, he has guided DMB Community Bank through multiple economic cycles with a focus on prudent risk management, expense discipline, and long-term stability. With more than 25 years of community banking experience, Schroeder is recognized for maintaining strong capital levels, funding high-quality loans, and implementing innovative strategies to optimize branch networks and real estate assets. His leadership emphasizes ethics, transparency, and rewarding talent. Schroeder serves as a director for Wisconsin Mutual Insurance Company and previously led the DeForest Area Chamber of Commerce and Foundation. He holds a finance degree from the University of Wisconsin–La Crosse and an MBA from Edgewood College.

FHLBank Chicago members re-elected independent director Phyllis Lockett and elected public interest independent director Mary Wright.

Phyllis Lockett is CEO of LEAP-X, an education innovation consultancy designing solutions for the future of learning. She previously served as founding CEO of LEAP Innovations, a national nonprofit advancing personalized learning through research and technology partnerships. Before that, she led New Schools for Chicago, launching 80 new public schools through venture philanthropy. Earlier in her career, Lockett was Executive Director of the Civic Consulting Alliance, where she drove major initiatives for Chicago Public Schools, the Chicago Transit Authority, and the Chicago Housing Authority, including its $1.5 billion Plan for Transformation. Her corporate experience includes leadership roles at IBM, Kraft Foods, and General Mills. Lockett serves on the boards of CME Group, Noble Schools, and advises GSV Ventures. She earned a Master of Management from Northwestern University’s Kellogg School and a bachelor’s degree in industrial engineering from Purdue University. She has served on the FHLBank Chicago Board of Directors since 2015.

Mary Wright served as president of Wisconsin Housing Preservation Corp. (WHPC) from 2016 to 2025, overseeing $690 million in affordable housing assets and $115 million in annual revenue. Under her leadership, WHPC became Wisconsin’s largest owner of affordable housing, with more than 9,000 units across 57 counties. She restructured WHPC into an employee-managed organization, ensuring financial stability and earning a Standard & Poor’s AA- rating. Previously, Wright held executive lending roles at Wells Fargo and Johnson Bank, where she expanded community investment and led development of the New Markets Tax Credit program, securing $174 million through a national CDFI competition. She also served as director of multifamily at the Wisconsin Housing and Economic Development Authority, managing lending, tax credit allocation and risk oversight. Wright holds a bachelor’s degree in business administration from the University of Wisconsin-La Crosse and completed executive education at UW and Graduate Banking School at Southern Methodist University.

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.