BCU Receives $15,000 Grant from the FHLBC's Targeted Impact Fund

FHLB grant news

December 1, 2020

In light of economic challenges, BCU continues to find ways to provide COVID-related financial-relief to our community business members most impacted in 2020.

BCU announced the provision of a $15,000 Targeted Impact Fund grant that has been equally distributed between 3 small businesses that serve to promote equity and opportunity for communities of color.

Thanks to the generous support provided by Federal Home Loans Bank of Chicago (FHLBC), these funds allow critical foundations to continue serving veterans, the disabled, at-risk youth, and provide quality childcare in North Chicago.

“We are honored to be a conduit to bring grant dollars to our valued business members.” – Wendy Basch, Director, Business Services

The grant’s initial recipient was the Antmound Foundation of Waukegan, IL, in recognition of their dedication to support positive change in their communities by addressing education, economic development, entrepreneurship, and legal justice. Antmound Foundation works alongside churches, schools, and community and business leaders to lower recidivism, reduce gang violence, and several other services that afflict the most vulnerable youth.

“I very much appreciate BCU for granting the foundation with this very unexpected blessing that will help us carry on with our work,” said Antmound Founder & President, Anthony McIntyre, Thanks, BCU!”

BCU additionally granted Ride-On Transit, Inc. with $5,000 to continue providing low-cost community shuttle services to our veterans, the disabled, and low-income residents who do not have access to public transportation. Operating in San Luis Obispo County and Fox Lake, IL communities, Ride-On Transit owner Juan Rodriguez Ortiz was overwhelmed with gratitude to receive the financial assistance to help those who need direct transport to medical facilities. “BCU is proud to support these community-based businesses and the outstanding work they do,” said Mike Valentine, BCU President & CEO.

Affording quality childcare and preschool services in North Chicago, Step by Step Daycare Inc. was BCU’s final grant recipient. With prioritization given to single-parent families, Step by Step looks to provide children a safe and caring place to learn and grow while mom or dad is at work.

In addition to the Targeted Impact Fund grant for small businesses, BCU has continued to give back in 2020 by providing $21 million in loan extensions, PPP and other COVID-related financial relief, awarding 30 scholarships to graduating high school seniors, providing more than 45,000 meals to families through the Feeding America® COVID-19 Fund as well as donating 1% of annual net income to charitable causes.

To learn more about or get involved with all three BCU’s recipient foundations, visit Antmound Foundation, Ride-On Transit, and Step by Step Daycare.

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