On June 10, 2024, the Federal Home Loan Bank of Chicago (FHLBank Chicago) announced the start of the 2024 Election of FHLBank Chicago Directors. If you are interested in serving as an “independent director,” please see below.

As prescribed in 12 C.F.R. § 1261.5(c) each independent director nominee must be a citizen of the United States and a bona fide resident of Illinois or Wisconsin. No independent director may, during a term of service on FHLBank Chicago’s Board of Directors, serve as an officer of any Federal Home Loan Bank or as a director, officer, or employee of any member of FHLBank Chicago or of any entity that receives advances from FHLBank Chicago.

There are two types of independent directorships – “public interest” directorships and “other independent” directorships. The FHLBank Chicago’s Board of Directors has determined that there will be a minimum of two public interest directors. 

One of the independent director seats for the 2024 election is a Public Interest Directorship in which the candidate must meet the following Public Interest Directorship eligibility requirements.

• Public Interest Directorship:  Must have more than four years’ experience directly representing consumer or community interests in banking services, credit needs, housing, or consumer financial protections. 

One of the independent director seats for the 2024 election is an Other Independent Directorship in which the candidate must meet the following Other Independent Directorship eligibility requirements. 

• Other Independent Directorship: Knowledge of or experience in one or more of the following areas: auditing and accounting, derivatives, financial management, organizational management, project development, risk management practices, and the law. 

Any interested party may recommend to FHLBank Chicago that it considers a particular individual as a nominee for an independent directorship, but FHLBank Chicago is not permitted to nominate any individual unless the individual has delivered to FHLBank Chicago, on or before the date set by FHLBank Chicago, an executed Independent Director Application Form prescribed by the Federal Housing Finance Agency.

The original and fully executed Independent Director Application Form along with a copy of your résumé must be received by FHLBank Chicago no later than 5:00 PM CT, Tuesday, July 12, 2024. Should you choose to send your Certificate via mail, please use the address below and indicate “Nomination Enclosed.”

FHLBank Chicago encourages the consideration of diversity in nominating or soliciting nominees for positions to its Board of Directors. Gender, minority status, and disability classification should be considered in such decisions as diversity enhances the overall effectiveness of the Board of Directors.