FHLBC - Community First

Exciting Changes Ahead for Downpayment Plus^® Programs

There are a number of exciting changes ahead for the FHLBC’s Downpayment Plus^® (DPP^®) programs. Starting with the 2016 DPP programs:

All program functionalities (e.g., reservations, disbursements, etc.) will be migrated to a new online system. Members will only be able to access the system through the FHLBC’s eBanking platform. If your institution would like assistance getting setup on eBanking, or if you have any questions about eBanking, please contact FHLBC Member Support at 855-345-2244, option 0. Members are encouraged to register in eBanking as soon as possible to avoid any unnecessary delay in participating in the 2016 DPP programs.
Program participation fees will be eliminated, including enrollment, reservation, and DPP closing fees.
Enhanced security of data and documents will be implemented.
The FHLBC will assume the role of program administrator. Bringing the administrator function in-house means we will no longer require the assistance of the Illinois League of Financial Institutions (ILFI) and the Wisconsin Partnership for Housing Development (WPHD). The FHLBC and its members are grateful for the many years of support that ILFI and WPHD have provided to the program.

Again, the changes above will become effective with the opening of the 2016 DPP programs. Additional details are forthcoming.

Members participating in the 2015 DPP programs should continue to use existing processes, including the assistance of ILFI and WPHD.

Questions may be directed to Community Investment at 312-565-5824 or dpp@fhlbc.com.

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This newsletter contains forward-looking statements which are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “anticipates”, “believes”, “expects”, “could”, “plans”, “estimates”, “may”, “should”, “will,” or their negatives or other variations on these terms.We caution that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the risk factors set forth in our periodic filings with the Securities and Exchange Commission, which are available on our website at www.fhlbc.com. We assume no obligation to update any forward-looking statements made in this newsletter.

Copyright © 2015, Federal Home Loan Bank of Chicago. “Downpayment Plus,” “DPP,” "Downpayment Plus Advantage," and "DPP Advantage" are registered trademarks of the Federal Home Loan Bank of Chicago. "Community First" is a registered trademark of the Federal Home Loan Bank of Chicago.