Board of Directors
The Board of Directors of FHLBank Chicago is responsible for overall management and oversight of FHLBank Chicago pursuant to the Federal Home Loan Bank Act. Like each of the other FHLBanks, our Board of Directors is composed of two types of directors: member and independent. For 2021, there are currently ten directors elected by our members and serve to represent our members in Illinois and Wisconsin. For 2021, there are currently seven independent directors, whose positions are filled through a District-wide nomination and election process. Generally directors serve four-year terms.
The Executive Team of FHLBank Chicago provides overall strategy and management of FHLBank Chicago.
Community Investment Advisory Council
The Community Investment Advisory Council of FHLBank Chicago consists of representatives from community and nonprofit organizations actively involved in providing or promoting affordable housing and/or community lending in Illinois or Wisconsin. The Advisory Council meets quarterly with representatives from FHLBank Chicago's Board of Directors to advise FHLBank Chicago on ways in which it can better carry out its housing finance and community investment missions. Nominations to the Advisory Council are accepted annually.
Code of Ethics and Reporting Concerns about Alleged Unethical Conduct or Fraud
Code of Ethics and Reporting
FHLBank Chicago is committed to the highest possible standards of honesty, integrity, impartiality, and conduct. The maintenance of these high standards is essential to ensure the proper performance of FHLBank Chicago’s business and fosters confidence in FHLBank Chicago and the Federal Home Loan Bank System. To ensure that both our employees and our vendors operate following these ethical standards, FHLBank Chicago has adopted the Whistleblower Policy and Procedure and the Federal Home Loan Bank of Chicago Code of Ethics.
If you discover a potential violation involving safety, ethics, theft, unauthorized destruction of FHLBank Chicago records, or material error in reporting that could harm FHLBank Chicago or its employees, members, vendors, or suppliers, you are encouraged to report your concerns to EthicsPoint.
All reports made via EthicsPoint are confidential and, if desired, anonymous, and individuals filing reports are protected by applicable whistleblower laws.
To communicate concerns about possible unethical or illegal activities, you may either make a report by telephone or via the web:
- To file a report by telephone, please call 866.294.5579.
- To file a report via the web, log onto www.EthicsPoint.com.
Anti-Money Laundering Program and Suspicious Activity Reporting
In compliance with the applicable Financial Crimes Enforcement Network regulations (31 C.F.R. Part 1030) and certain FHFA regulations, FHLBank Chicago has adopted its Anti-Money Laundering, Bank Secrecy Act, and Suspicious Activity Reporting Policy (AML Policy). The AML Policy addresses suspicious activity and/or fraud detected in dealings with our members, vendors, and suppliers. FHLBank Chicago expects that all of its members, vendors, and suppliers will report any instances of fraud or suspicious activity involving FHLBank Chicago. Such reports should be made either to EthicsPoint or directly to FHLBank Chicago’s AML Compliance Officer, Laura Turnquest, at 312.565.5340.
Anti-Predatory Lending Policy
Governance and Control Assurance Program
FHLBank Chicago is committed to building and maintaining an appropriate control environment for the risks undertaken by FHLBank Chicago and appreciates the need for members and other business partners to receive assurance on these governance controls. Our Governance and Control Assurance Program (GCAP) oversees how FHLBank Chicago manages risks associated with technology and vendor relationships; members and other business partners can access our GCAP document which covers the majority of areas addressed in an SSAE18 report. Other financial and risk information is addressed in our Securities and Exchange Commission (SEC) filings, which can be found on the SEC’s reporting website. Any items requested that are not covered by the GCAP, our Member Products Guide, MPF Program Guides for Participating Financial Institutions (PFIs), or our SEC filings are proprietary and we do not disclose them to our business partners.
To obtain a copy of the GCAP document, please fill out the form below. For additional information on the GCAP, please contact Thomas H.W. Harper, Executive Vice President and General Auditor, at GovernanceControls@fhlbc.com.