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  • Comment Detail

  • Date: 03/08/23
    First Name: Dean
    Last Name: Ahlers
    Email: deanahlers@sterlingfederal.com
    Organization Type: other
    Organization: Sterling Federal Bank

  • Comment

    As a federal savings bank, The FHLBank Chicago is a vital resource for our ability to support the housing needs of the communities we serve. The bank serves as our primary source of liquidity to make loans when our deposit activity is not adequate to meet the needs of our communities. In addition, the liquidity product offerings play a large role in our ability to manage our balance sheet and interest rate risk. The Down Payment Plus program has had a large impact on the ability of our borrowers to purchase a home when they lack the funds for a down payment. We have successfully used the AHP program over the years to provide much needed affordable housing projects within our communities. Without access to FHLBank Chicago, we would struggle during certain economic times to have the necessary liquidity to meet the basic housing needs of our communities and it would be difficult to meet the affordable housing project needs without the AHP program.