Federal Home Loan Bank of Chicago

The Federal Home Loan Bank of Chicago (FHLBank Chicago) is a privately held, member-owned cooperative and one of 11 regional banks within the Federal Home Loan Bank System, a government-sponsored enterprise established by the U.S. Congress in 1932. Headquartered in Chicago, Illinois, its core mission is to partner with member financial institutions in Illinois and Wisconsin, providing them with competitively priced funding, a reasonable return on their investment in the Bank, and support for their community investment activities.

FHLBank Chicago offers a range of financial products and services, including secured loans known as advances (fixed-rate, variable-rate, and hybrid), the Mortgage Partnership Finance (MPF) Program for secondary mortgage market access, and Letters of Credit. The institution also provides community investment programs such as the Community First Fund and Downpayment Plus® Programs, which offer down payment and closing cost assistance. Its market segments include commercial banks, credit unions, insurance companies, savings institutions, and community development financial institutions across Illinois and Wisconsin.

Under the leadership of President and CEO Michael A. Ericson, FHLBank Chicago maintains a significant market presence as a stable source of liquidity and support for housing finance and community development. In April 2026, the bank released its 2025 Impact Report, detailing $3.3 billion in discounted Community Advances and $106 million in housing and economic development grants, which supported the creation or preservation of over 14,800 housing units and 14,700 jobs. The bank also announced strong Q1 2026 financial highlights, with total assets rising to $141.2 billion by year-end 2025.