Federal Home Loan Bank of Chicago Announces Community First® Award Winner in Oak Brook, Illinois

CHICAGO, March 20, 2017 /PRNewswire/ -- The Federal Home Loan Bank of Chicago (Bank) is pleased to announce a recipient of its 2017 Community First Awards today at its member meeting in Oak Brook, Illinois. The awards recognize outstanding achievements of the Bank's member institutions and their local partners as they work together to strengthen their communities through affordable housing and economic development initiatives. Award categories include partnership, project or program, pioneer, and emerging leader. Award winners identify a nonprofit organization to receive up to $10,000.

Emerging Leader Award
Beto Sanchez, an underwriter with Cinnaire Lending Corporation (www.cinnaire.com), has received a $10,000 emerging leader award. In coordinating Cinnaire's participation in the FHLBC's competitive Affordable Housing Program, Sanchez balances the most important aspects of each project with the big-picture vision needed to complete the deal.

"The momentum of community development depends on those leading the efforts, so it's exciting to recognize Beto as an emerging leader in the field," said Suzi Thackston, FHLBC Community Investment Officer. "We look forward to continuing our partnership with Beto for years to come."

"Beto has led successful applications for 12 projects representing 641 new homes, providing each deal with the critical financial resources needed to create safe, affordable, high-quality housing for those who need it most," said Cinnaire's President, Katey Forth. "Beto embodies Cinnaire's mission of supporting community and economic development throughout our region."

The Bank will announce two more Community First Award winners this month at its member meetings in Madison and Green Bay, Wisconsin. The Bank also supports the community investment activities of its members by offering:

• Forgivable grants for eligible projects through its competitive Affordable Housing Program
• Down payment and closing cost assistance through its Downpayment Plus^® Programs
• Favorably priced loans and credit products through its Community Investment Cash Advances
• Lower-interest-rate, longer-term financing for community development organizations through its Community First Fund
• Grants to grow and strengthen nonprofit lenders through its new Community First Capacity-Building Grant Program
• Direct relief funding to members' communities through the Community First Disaster Relief Program

About the Federal Home Loan Bank of Chicago
For more information on the FHLBC and its full range of Community Investment programs, please visit www.fhlbc.com or @FHLBC. "Community First" and "Downpayment Plus" are registered trademarks of the FHLBC.

SOURCE Federal Home Loan Bank of Chicago

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http://www.fhlbc.com