A Message from the Chair of Our Board of Directors
To Our Members:
It has been a while since I communicated with all of you. I hope you are staying safe and well during this trying pandemic experience. The pandemic has certainly caused major disruptions in our businesses. Thereby it is important to let you know that your Federal Home Loan Bank remains safe and strong and ready to serve your needs. Earlier this year we relied on the Bank for our liquidity needs and as deposits began flowing back to our institutions, the Federal Home Loan Bank of Chicago further supported all of us with the COVID-19 Relief Program. Utilization was an astonishing 98% for a portion of the options offered. The foresight of the Executive Team and the fast approval by your Board of Directors helped make this program both timely and rewarding for our members and their customers. The testimonials we received from many of you were heartwarming and much appreciated.
During the past few months, I attended the virtual Insurance, Management, and Credit Union Conferences. They were great experiences. The Bank provided great presenters on the economy, current state of the pandemic, new ways of distinguishing our organizations, and terrific panel discussions featuring member institutions. I was very impressed with the innovative and thoughtful utilization of Bank services discussed by the panelists. It truly was time well spent. The Bank team was able to make the virtual experience meaningful and well worth the time spent in front of our iPads and computers, kudos to the entire team.
I have had the privilege of observing the transition of leadership from Matt Feldman to Michael Ericson over the past year. They are both to be commended for an almost seamless change. Matt has been an insightful, intelligent, caring, inspirational, and innovative leader. He has left a strong legacy that Michael will certainly continue. The same adjectives I use to describe Matt could be used to describe Michael. Michael and his team will truly maintain and enhance your Federal Home Loan Bank to ensure it is a dependable source of liquidity and provide a host of other services for all of us to utilize and facilitate our financial success as banks, credit unions, insurance companies, and community development financial institutions. I truly believe we are on the right path to serve all of you.
Thank you for taking the time to read my message and I truly hope you all stay safe and well.
Best regards,
John Reinke
It has been a while since I communicated with all of you. I hope you are staying safe and well during this trying pandemic experience. The pandemic has certainly caused major disruptions in our businesses. Thereby it is important to let you know that your Federal Home Loan Bank remains safe and strong and ready to serve your needs. Earlier this year we relied on the Bank for our liquidity needs and as deposits began flowing back to our institutions, the Federal Home Loan Bank of Chicago further supported all of us with the COVID-19 Relief Program. Utilization was an astonishing 98% for a portion of the options offered. The foresight of the Executive Team and the fast approval by your Board of Directors helped make this program both timely and rewarding for our members and their customers. The testimonials we received from many of you were heartwarming and much appreciated.
During the past few months, I attended the virtual Insurance, Management, and Credit Union Conferences. They were great experiences. The Bank provided great presenters on the economy, current state of the pandemic, new ways of distinguishing our organizations, and terrific panel discussions featuring member institutions. I was very impressed with the innovative and thoughtful utilization of Bank services discussed by the panelists. It truly was time well spent. The Bank team was able to make the virtual experience meaningful and well worth the time spent in front of our iPads and computers, kudos to the entire team.
I have had the privilege of observing the transition of leadership from Matt Feldman to Michael Ericson over the past year. They are both to be commended for an almost seamless change. Matt has been an insightful, intelligent, caring, inspirational, and innovative leader. He has left a strong legacy that Michael will certainly continue. The same adjectives I use to describe Matt could be used to describe Michael. Michael and his team will truly maintain and enhance your Federal Home Loan Bank to ensure it is a dependable source of liquidity and provide a host of other services for all of us to utilize and facilitate our financial success as banks, credit unions, insurance companies, and community development financial institutions. I truly believe we are on the right path to serve all of you.
Thank you for taking the time to read my message and I truly hope you all stay safe and well.
Best regards,
John Reinke
Chair of the Board of Directors