Company Profile
Federal Home Loan Bank of Chicago
Company Overview
The Federal Home Loan Bank of Chicago is a $69.8 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to ensure a secure source of mortgage funds to banks, thrifts, credit unions, insurance companies, community development financial institutions, and housing finance institutions.
he Federal Home Loan Bank of Chicago strives to be a valuable partner to our member financial institutions in Illinois and Wisconsin during all phases of financial and economic cycles. We serve our members by providing liquidity, funding, and asset-liability management capabilities on a secured basis. Through our Community Investment and Affordable Housing programs, we help our members to provide affordable housing and economic development in the communities they serve. Learn more.
Company History
The Federal Home Loan Bank of Chicago is a $69.8 billion wholesale bank and one of 11 district banks chartered in 1932 by the U.S. Congress to improve the availability of funds to support home ownership. The FHLB Chicago is a member-owned cooperative serving members in our district of Illinois and Wisconsin. All federally ???insured depository institutions, insurance companies engaged in residential housing finance, credit unions, and community development financial institutions located in our district are eligible to apply for membership. Today, the FHLBank System, which is regulated by the Federal Housing Finance Agency, has more than 7,300 members.
The FHLB Chicago strives to be a valuable partner to our member financial institutions in Illinois and Wisconsin during all phases of financial and economic cycles. The mission of the Federal Home Loan Bank of Chicago is to partner with our member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities.
As a lender of low-cost, short- and long-term funding, we offer our members products with maturities ranging from one day to 30 years at competitive rates. These products take the form of fixed and adjustable rate secured loans, known as "advances," and standby letters of credit.
We also provide liquidity for home mortgage loans to members approved as participating financial institutions through the Mortgage Partnership Finance® (MPF®) Program. The MPF Program combines the retail expertise of community lenders with the wholesale advantages of the FHLBanks.
Notable Accomplishments / Recognition
We also provide liquidity for home mortgage loans to members approved as participating financial institutions through the Mortgage Partnership Finance® (MPF®) Program. The MPF Program combines the retail expertise of community lenders with the wholesale advantages of the FHLBanks. The program was developed and is managed for the FHLBanks by FHLB Chicago.
Benefits
The Federal Home Loan Bank of Chicago offers its full, part-time, and part-time plus employees an attractive benefits package. Part-time plus emplo?yees enjoy the benefits of a full-time employee.
Full-Time Employee Benefits
The Federal Home Loan Bank of Chicago offers its full-time employees an excellent benefits package. Below is a general listing of just some of these. A full description of benefits offered to FHLB Chicago full-time employees is located in its plan booklets.
Blue Cross Blue Shield PPO Medical
HMO Illinois
Blue Cross Blue Shield Dental
Defined Benefit Pension Plan
Defined Contribution Thrift/401(k) Plan
Group Life Insurance
Accidental Death and Dismemberment
Short-Term Disability
Long-Term Disability
Generous Sick and Vacation time
Educational Assistance
Military Leave of Absence Reserve Duty
Cafeteria-Style Health Plan
Flexible Spending Account
Transportation Management Account
Bank-Wide Incentive Program
Part-Time Employee Benefits
The Federal Home Loan Bank of Chicago offers its part-time employees an excellent benefits package. Below is a general listing of just some of these. A full description of benefits offered to FHLB Chicago part-time employees is located in its plan booklets.
Blue Cross Blue Shield PPO Medical
HMO Illinois
Blue Cross Blue Shield Dental
Defined Benefit Pension Plan
Defined Contribution Thrift/401(k) Plan
Group Life Insurance
Accidental Death and Dismemberment
Short-Term Disability
Long-Term Disability
Generous Sick and Vacation time
Cafeteria-Style Health Plan
Flexible Spending Account
Transportation Management Account
Bank-Wide Incentive Program
Please note: this summary of benefits is not a summary plan description, and plans are subject to change without notice. See the employee handbook or plan booklets for further detail.