CHICAGO, April 30, 2021 /PRNewswire/ -- The Federal
Home Loan Bank of Chicago's
(FHLBank Chicago) Community First® Awards recognize
outstanding achievements 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. Award recipients receive
$10,000 to support a nonprofit
organization of their choice and were celebrated at FHLBank
Chicago's virtual member 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
rehabilitates blighted single-family homes to house formerly
homeless individuals. The SRO program benefits from a strong
partnership with Community First Credit Union (CFCU), located in
Appleton, Wisconsin, which
facilitates the rehabilitation work through a reduced-interest line
of credit. Since Pillars' first SRO opened in 2018, three more have
followed. CFCU nominated Pillars for their commitment to providing
shelter, support, and solutions in Wisconsin's Fox Cities.
Diversity, Equity, and Inclusion
Busey Bank's bilingual banking
center, located within the Fairmont City Library, opened in 2015 as
the first bilingual banking branch in the St. Louis metropolitan area. Fairmont City, Illinois, is a small and
predominately Hispanic community, with more than 40% of its
residents living at or below the poverty line. Since 2019, this
bilingual branch has opened 241 checking and savings accounts,
closed 31 consumer loans, and provided six mortgages. Busey Bank nominated their bilingual banking
center because of its importance in serving the Spanish-speaking
community.
Economic Development
The North Lawndale Employment Network (NLEN) serves under and
unemployed residents of North
Lawndale and the surrounding communities in Chicago, Illinois, through job placement,
training, and financial coaching. In 2020 alone, NLEN provided 423
individuals with one-on-one career and financial coaching,
resulting in a 93% increase in core job readiness skills and a 61%
job placement rate. Inland Bank, located in Oak Brook, Illinois, nominated NLEN for their
dedication to helping residents improve their lives, and in turn,
their community.
Emerging Leader
Luke Samalya, a graduate of the
Associates in Commercial Real Estate Program administered through
LISC Milwaukee, launched Danna Capital Corporation, a
minority-owned affordable housing development company, in 2020.
First Business Bank, located in Madison,
Wisconsin, nominated Mr. Samalya because of the significant
impact he has made in the world of affordable housing and by giving
back to communities in need. Danna Capital has become a leader in
advocating for 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 to provide them 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 created by the Federal Home
Loan Bank Act of 1932 as a government sponsored enterprise to
support mortgage lending and community investment. FHLBank Chicago
members include banks, credit unions, insurance companies, and
community development financial institutions throughout 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.
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SOURCE Federal Home Loan Bank of Chicago