Very Low-Income Homeowners in Southern Illinois Rehabilitate Properties Using Grant Funds

U.S. Representative Mike Bost (R-IL-12) joined with the Federal Home Loan Bank of Chicago (FHLBank Chicago) today to convene a discussion with local leaders to address the unique housing needs of communities across southern Illinois. The roundtable event brought together influential representatives in the affordable housing space, including C.E.F.S. Economic Opportunity Corporation and Midland States Bank.

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U.S. Representative Mike Bost joins leaders from FHLBank Chicago, Midland States Bank, C.E.F.S. Economic Opportunity Corporation, and local regional officials—including Mel Stock, Market President at Midland States Bank, Kevin Busher of C.E.F.S., Josh Douthit and Doug McCain of the Effingham County Board, and Courtney Yockey of the Effingham Regional Growth Alliance—in Effingham, Ill., to discuss rural housing solutions and a $360,000 Affordable Housing Program (AHP) grant from FHLBank Chicago, which provided critical home repairs for 24 very low-income homeowners across seven southern Illinois counties.

Hosted at C.E.F.S. Economic Opportunity Corporation’s office, the discussion recognized the positive impact of a local affordable housing effort, the C.E.F.S. Low Income Home Rehabilitation Project. The project provided home improvement grants of up to $15,000 each for 24 very low-income homeowners in the seven Illinois counties of Clay, Effingham, Fayette, Shelby, Christian, Montgomery and Moultrie. Qualifying recipients earned less than or equal to 60% of the area median income. The funding was made possible through a $360,000 grant from FHLBank Chicago, working in partnership with Midland States Bank.

"We had a great meeting today discussing the housing affordability crisis and the unique housing challenges facing rural areas,” said Congressman Bost. “Bringing together local affordable housing leaders is not just important—it’s essential to creating lasting solutions. Every community has unique housing needs. Collaboration such as this help us truly understand and address them,” continued Congressman Bost. “I appreciate the partnership created by the Federal Home Loan Bank of Chicago, Midland States Bank and C.E.F.S. Economic Opportunity Corporation that came together to help low-income families in my district improve their homes.”

While access to affordable housing is a nation-wide issue, flexible housing programs and partnerships are critical to support the rehabilitation of existing homes for citizens living on fixed income in rural areas. The C.E.F.S. Low Income Home Rehabilitation Project was funded through a combination of FHLBank Chicago’s Affordable Housing Program (AHP) General Fund, which provides forgivable grants to member financial institutions, in this case Midland States Bank, to support affordable housing projects and developments, and the Illinois Home Weatherization Assistance Program, which provides low-income residents and households with a grant to make necessary home repairs to reduce energy costs and improve the health and safety of the residence.

“In southern Illinois, it’s not uncommon for a low-income individual to own a home that clearly needs rehabilitation, but services often cannot be offered due to existing state and federal grant guidelines,” said Kevin Busher, C.E.F.S. Economic Opportunity Corporation. “Working through Midland States Bank, we were able to layer in FHLBank Chicago’s AHP funding to facilitate a wide range of home improvements—such as adding a walk-in shower for an elderly resident and installing central air conditioning to a home for a 94-year-old woman who had been sleeping on bags of ice to stay cool in the summer.”

“We’re proud to partner with our member, Midland States Bank, to provide this vital support,” said Michael Ericson, President and CEO, FHLBank Chicago. “These grants improve the health and safety of residents by enabling critical home repairs, enhancing mobility, and supporting weatherization efforts—allowing more individuals to remain in their homes comfortably and safely for years to come.”

“At Midland States Bank, we believe that strong communities start with safe, stable housing,” said Mel Stock, Market President, Midland States Bank. “We’re honored to support initiatives like the C.E.F.S. Low Income Home Rehabilitation Project that directly improve the lives of our neighbors. It’s rewarding to see how strategic partnerships can deliver real, lasting impact for families across southern Illinois.”

For additional information about FHLBank Chicago’s AHP General Fund, please visit fhlbc.com.

About the Federal Home Loan Bank of Chicago

FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members’ customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com.

About Midlands State Bank

Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of March 31, 2025, the Company had total assets of approximately $7.46 billion, and its Wealth Management Group had assets under administration of approximately $4.10 billion. The Company provides a full range of commercial and consumer banking products and services and business equipment financing, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.

About C.E.F.S. Economic Opportunity Corporation

C.E.F.S. is a not-for-profit Community Action Agency incorporated in 1965 to help people achieve their full individual and economic potential. C.E.F.S. serves the Illinois counties of Christian, Clay, Effingham, Fayette, Montgomery, Moultrie, and Shelby. We develop, implement, and evaluate social service programs to assist economically and socially disadvantaged people in their quest for greater self-sufficiency. Our programs are as diverse as the needs of the people in the communities we serve. Visit https://www.cefseoc.org/ to learn more.

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