Federal Home Loan Bank of Chicago Announces Community First® Award Recipients

CHICAGO, April 30, 2021 / PRNewswire / – The Federal Home Loan Bank of that of Chicago (FHLBank Chicago) Community first® The awards recognize the outstanding accomplishments of our member institutions and their local partners as they work together to strengthen the communities they serve. Each year, FHLBank Chicago members submit nominations for consideration in four award categories. The winners receive $ 10,000 to support a nonprofit of their choice and were celebrated at the FHLBank Chicago Virtual Membership Meetings held in April. FHLBank Chicago is pleased to announce the recipients of our 2021 Community First Awards.

Affordable housing

Through its Single Room Occupancy (SRO) program, Pillars is rehabilitating dilapidated single-family homes to house formerly homeless people. The SRO program benefits from a strong partnership with Community First Credit Union (CFCU), located in Appleton, Wisconsin, which facilitates the rehabilitation works thanks to a line of credit at a reduced rate. Since the opening of Pillars’ first SRO in 2018, three more have followed. The Pillars of CFCU were named for their commitment to providing shelter, support and solutions in wisconsin Fox towns.

Diversity, equity and inclusion

Busey Bank bilingual banking center, located in the Fairmont City Library, opened in 2015 as the first bilingual bank branch in the Saint Louis Metropolitan area. Fairmont City, Illinois, is a small, predominantly Hispanic community, with over 40% of its residents living at or below the poverty line. Since 2019, this bilingual agency has opened 241 checking and savings accounts, closed 31 consumer loans and granted six mortgage loans. Busey Bank named their bilingual banking center because of its importance in serving the Spanish speaking community.

Economic development

The North Lawndale Employment Network (NLEN) serves underemployed and unemployed residents of North Lawndale and surrounding communities in Chicago, Illinois, through placement, training and financial coaching. In 2020 alone, NLEN provided 423 people with one-on-one professional and financial coaching, resulting in a 93% increase in basic job readiness skills and a 61% placement rate. Inland Bank, located at Oak Brook, Illinois, named NLEN for its dedication to helping residents improve their lives and, therefore, their community.

Emerging leader

Luke Samalya, a graduate of the Associates in Commercial Real Estate program administered by LISC Milwaukee, launched Danna Capital Corporation, a minority-owned affordable housing development company, in 2020. First Business Bank, located in Madison, Wisconsin, named Mr. Samalya because of the significant impact he has had in the world of affordable housing and giving back to communities in need. Danna Capital has become a leader in advocating and mentoring other minority development firms.

About the Federal Home Loan Bank of Chicago

The mission of FHLBank Chicago is to partner with our members in Illinois and Wisconsin provide them with competitively priced funding, a reasonable return on their investment in the Bank, and support for their community investment activities. FHLBank Chicago is one of 11 Federal Home Loan Banks established by the Federal Home Loan Bank Act of 1932 as a government sponsored business to support mortgage lending and community investments. FHLBank Chicago members include banks, credit unions, insurance companies, and community development finance institutions across our district. To learn more about FHLBank Chicago, 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

Bernadine J. Perkins