The Federal Home Loan Bank of Chicago (FHLBank Chicago) announced a $1.5 million increase for its Community First Housing Counseling Resource Program (HCRP) for the current program year.
FHLBank Chicago launched the HCRP in 2022 to provide grants to HUD-certified housing counseling agencies offering financial coaching, credit readiness, and support along the homebuying journey. During this year, the FLHBank Chicago allocated $3.5 million to the Illinois Housing Development Authority (IHDA) and the Wisconsin Housing and Economic Development Authority (WHEDA) – this brings the total funding for this vital program to $7.5 million over the past three years.
“Thanks to our partnerships with IHDA and WHEDA, we’ve seen many positive impacts for households served through our Housing Counseling Resource Program,” said Katie Naftzger, vice president and community investment officer at FHLBank Chicago. “Our heightened funding for this program affirms our dedication to promoting sustainable homeownership, financial resiliency, and wealth-building for underserved populations across Illinois and Wisconsin.”
Photo: Shalonda Bedenfield-Causey, lead community investment operations specialist at FHLBank Chicago (left), and Mark J. Eppli, board director at FHLBank Chicago (right), present a $1.5 million check to Elmer Moore Jr., executive director and CEO of WHEDA (center), for the Housing Counseling Resource Program.
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