The Federal Home Loan Bank of Chicago has announced that two of its incumbent directors have been declared directors-elect to serve as member directors for additional four-year terms beginning Jan. 1, 2017, and ending Dec. 31, 2020.
James T. Ashworth (left), president of CNB Bank & Trust based in Carlinville, has served on the Federal Home Loan Bank board since elected by membership in 2012. Michelle L. Gross of the State Bank of Bement was initially appointed to the board earlier in 2016 to complete the unexpired term of a resigning director. Both directors were unopposed in the recent election process.
Ashworth currently serves as chairman of Federal Home Loan Bank’s Affordable Housing Committee, and as vice-chairman of its Human Resources and Compensation Committee. Gross serves on FHLBC’s Operations and Technology Committee and its Risk Management Committee.
The Federal Home Loan Bank of Chicago is one of 11 such boards in the U.S. It is cooperatively owned by its 754 member banks, credit unions, and insurance companies, with a service area covering Illinois and Wisconsin. The mission of the Federal Home Loan Bank system is to provide liquidity for its members through loan advances, and to support the country’s housing market and economic development through its community investment programs.
The board of directors at Federal Home Loan Bank is comprised of 10 member-directors, six of whom are from Illinois institutions, and four from Wisconsin; and eight independent directors from organizations that support the nation’s housing industry.
CNB Bank & Trust has 13 locations: Alton, Brighton, Carlinville, Carrollton, Clayton, Mo., Hillsboro, Jacksonville, Jerseyville, Oak Forest, Palos Heights, Pittsfield, Shipman, and Taylorville.
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