FHLBank Chicago Makes $3 Million Available for Community First^® Developer Program to Support Emerging Talent in Affordable Housing

CHICAGO--(BUSINESS WIRE)--The Federal Home Loan Bank of Chicago (FHLBank Chicago) today opened its applications for the 2025 Community First^® Developer Program (Developer Program). Now in its fourth year, the program provides grants to organizations supporting career development opportunities in the affordable housing development industry across Illinois and Wisconsin.

In 2025, FHLBank Chicago will award up to $3 million through its financial institution members, with individual grant amounts ranging from $50,000 to $250,000. Applications are open now through Friday, August 8, 2025, at 5:00 p.m. CT.

“The Developer Program is designed to strengthen the pipeline of talent shaping affordable housing in our district,” said Katie Naftzger, Senior Vice President and Community Investment Officer, FHLBank Chicago. “By partnering with our member institutions, we can help affordable housing development organizations throughout Illinois and Wisconsin bring new and emerging professionals into this vital field.”

Last year, Northpointe Development II Corporation based in Oshkosh, Wisc., received a $250,000 Developer Program grant in partnership with FHLBank Chicago member First Business Bank to fund two full-time fellowship positions.

“With support from FHLBank Chicago’s Developer Program, we’ve been able to provide meaningful, full-time roles for individuals who are passionate about building stronger communities but may not have had access to traditional pathways into development,” said Sean O’Brien, Principal at Northpointe Development. “These roles offer real-world experience across every stage of the development process—from financing and design to construction and community engagement.”

Launched in 2022, the Developer Program was shaped by FHLBank Chicago’s Community Investment Advisory Council to address the need for greater access to affordable housing career pathways. The program offers funding to support compensation for internships or fellowships that provide meaningful professional experience in the affordable housing development field.

Eligible beneficiary organizations include nonprofit and for-profit development firms looking to add talent, as well as organizations with programs or initiatives that advance career opportunities in the industry. Members may sponsor up to three applications totaling no more than $750,000 in combined requests.

For additional information about the Developer Program and how to apply, visit the Developer Program webpage.

About the Federal Home Loan Bank of Chicago

FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members’ customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com.

“Community First” is a registered trademark of the Federal Home Loan Bank of Chicago.