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Comment

As a member of the Federal Home Loan Bank of Chicago we rely on their products and services to carry out our mission as a credit union. The FHLBC is our primary line of credit, which gives us confidence that we have ample sources of liquidity to meet our members’ borrowing demands. The line of credit also allows us to continue mortgage lending through seasonal liquidity shortages. Other products offered by the FHLB such as Down Payment Plus expands home ownership to a portion of our membership who would not have the means to buy a home. In 2022 we have had 18 members benefit from the DPP program. The FHLBC also invests in our communities by supporting credit unions through several grant programs each year. During the pandemic, we received $35,000 in grant money to funnel to local businesses and nonprofit organizations that were implementing programs to assist community members most impacted by COVID and related economic issues such as increased food insecurity. Through the various FHLBC programs that we use, we have been able to directly support and impact the financial well-being of our members. We feel there is true value in membership with the FHLB and consider the FHLB to be a premier business partner.