Northbrook Illinois – Centrust Bank is pleased to announce contributions to two local non-for-profit organizations to support increased needs due to the COVID-19 pandemic. In a partnership with the Federal Home Loan Bank (FHLB) of Chicago and its Targeted Impact Fund, a total of $35,000 has been contributed. In its role as a local community bank, Centrust provides financial services and support to its local communities as part of its mission.
This is the second initiative sponsored by the FHLB in partnership with the Bank. In May 2020, the Bank made donations to organizations focused on food insecurity and domestic abuse where needs had initially risen because of the COVID-19 pandemic.
The FHLB’s Targeted Impact Fund addresses the populations that have been adversely affected by the COVID-19 pandemic. Member banks had the option to provide funds to organizations that promote empowerment for communities of color, entities that provide affordable housing sustainability, minority, and women-owned small businesses.
“We appreciate being able to partner with the FHLB again to support our local communities with additional funds needed to combat the numerous and ongoing challenges of the Covid-19 pandemic,” explained Chief Executive Officer Jim McMahon. “Our goal was to address the broad increased need for housing assistance as we enter the fall and winter seasons in the Chicagoland area. Many shelter facilities have closed due to the pandemic, exacerbating an already limited resource for our lower-income communities.”
The Bank donated $17,500 to the Housing Opportunity Development Corporation (HODC) in Techny, IL. HODC provides affordable housing throughout Chicago’s northern suburbs to low and moderate-income households, focusing on the elderly and disabled population. In addition, the Bank donated $17,500 to Housing Forward in Maywood, IL. Housing Forward seeks to transition people from housing crisis to stability, primarily in western Cook County. As a result of shelters closing due to the pandemic, Housing Forward specifically coordinates with motels and landlords to provide safe housing.
About Centrust Bank
Founded in 2006, Centrust Bank has grown to become a leading Chicago area community bank focused on lending to small to mid-sized businesses throughout the Chicagoland area.
To learn more or to contact Centrust Bank, visit their website: centrustbank.com
Centrust Bank is an Equal Housing Lender. Member FDIC.
Publication: Article provided courtesy of Centrust Bank