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FHLBank Chicago

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FHLBank Chicago

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FHLBank Chicago Reviews

Updated May 17, 2022

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Found 106 of over 125 reviews

3.0
44%
Recommend to a Friend
50%
Approve of CEO
FHLBank Chicago President and Chief Executive Officer Michael Ericson
Michael Ericson
11 Ratings

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Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

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  1. 5.0
    Current Employee, less than 1 year
    Featured Review

    Best Place I've Worked

    Nov 10, 2021 - Anonymous Employee in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    I've been at a fair number of other companies throughout my career and none even compare to FHLBC. Comp/benefits/PTO/hybrid: The benefits here incredible. Great insurance, 401k/pension (good luck finding that at a company in 2021), 11 holidays (way better than the 6 a year I'm accustomed to), plenty of time off (and it's encouraged you take it!) They also do a hybrid work environment, which I personally love (I could not be home 100% of the time...it would drive me crazy). Oh and the office space is incredible. The people: No one here passes the buck or tries to one-up you to get ahead. That's just not the culture. I've gotten so much of that at other companies where you have to look out for someone trying to take credit for your work or throw you under the bus. Everyone here is SO nice, complementary, and give recognition where and when it's due. Leadership: When was the last time you felt you could casually talk to leaders? The leaders, executives, and CEO are very approachable. There is no feeling of hierarchy. It's so refreshing to see them interact with employees on a personal level (asking about families, hobbies, etc.). They also host sessions where you get face time to ask any questions you have about them, their role, etc. Rarely do you find execs that are this accessible. DEI/Community: Many companies are scrambling to put together hasty DEI programs or say that it matters. Here it actually does. There are endless opportunities to get involved in culture groups, ERGs, volunteer events, etc. They even host WEEKLY sessions where an employee has the floor to share their own experiences. And many people join these regularly. It's awesome to see DEI woven through the company and that it is taken seriously. Work/life balance: It exists! I don't feel pressured to work late into the night or on weekends. I feel like I can disconnect at the end of the day. The bank is busy like every other company so yes, you will work hard, but the work is fulfilling and it never feels like too much. And when it does, your teammates and managers are ready to jump right in and help. Career pathing: This isn't applicable to me, but one thing I find really cool is that they offer a rotational analyst program so those right out of college can try out different depts at the bank and gain skills to kickstart their career. I wish I had that opportunity or even knew about the bank when I was getting started. The other great thing is there's so much opportunity to make your career what you want it to be. I've seen people transfer into new roles within the bank if that's where their career takes them. If something isn't working for you, you can find a way to make it work without leaving.

    Cons

    I really can't think of any

    Continue reading
    6 people found this review helpful
  2. 5.0
    Former Employee, more than 3 years

    Great place to work at

    May 17, 2022 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Awesome ppl Many technologies to explore

    Cons

    Nothing that I can think of.

    Be the first to find this review helpful
  3. 1.0
    Current Employee, more than 1 year

    Headless Chickens!

    May 13, 2022 - Systems Engineer in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Office is nice - free fruit and grain bars

    Cons

    Engineering is just a mess - no leadership everything is last minute and nothing gets done - pulled all over the place - super stressful and no sense of purpose or value to the job. The last 6 months have been a living hell for me and many. Bunch of long term contractors quit for better jobs (not hard!!) - now we're all picking up even more slack. Gets worse by the day. Avoid this place like the plague - oh but you can learn all about racism though (borderline accusing you of it for merely existing) - we may not get any work done but we do tick the DEI boxes. Thankful for the Glassdoor & LinkedIn jobs section! can all see how underpaid we are and how easy it is to get another job - as most people are doing if they are even remotely good - what's left behind isn't quality.

    Continue reading
    4 people found this review helpful

    FHLBank Chicago Response

    We know there are last-minute requests and changing priorities as we navigate how to best deliver successful organizational changes. We are undergoing prioritization sessions and engaging in employee listening opportunities to better address the needs of our valued staff. While our business has important priorities to be met, we do not want any of our employees to experience overwhelming stress and hardship. FHLBank Chicago encourages anyone feeling overwhelmed to speak to their manager or HR business partner for support.

  4. 5.0
    Current Employee, less than 1 year

    I feel lucky to work here

    Feb 14, 2022 - Senior Manager 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Nice people, outstanding benefits, cool office space, great leadership, hybrid work schedule, many career growth opportunities. Mission-driven organization means its a lot of dedicated and caring people and a fun culture

    Cons

    Technology issues can be frustrating at times, lots of reporting requirements

    Continue reading
    1 person found this review helpful
  5. 1.0
    Current Employee, more than 10 years

    Boring place, no growth. That's ok, but Upper Mgmt needs to turn

    Mar 7, 2022 - IT Architect 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    -Ok benefits -Laid back environment -Flexible work schedule

    Cons

    It being such a small company and highly regulated, you can start a career here and be part of the company for life. However, don't expect to move up quickly if that's what you want. Place is having a ton of turnover after covid made a lot realize corporate is dead. Upper management needs to be more diverse and they know this, changes will happen soon I hear. Basically, Senior mgrs and up are taken care of. There's a big gap in compensation between workers and entry level managers. They created these titled to make you think otherwise but dont be fooled.

    4 people found this review helpful

    FHLBank Chicago Response

    We take great pride in our award winning benefits, culture, and flexible blended operating model. Hundreds of our employees joined FHLBank Chicago in one role and moved up and through multiple positions across our various departments through their career growth. In addition to many growth opportunities, we invest heavily in professional development for all employees to achieve their career goals. Our employees, our members, and their communities are diverse, and we celebrate that diversity by fostering a culture where all are engaged, respected, and given equitable opportunities to succeed.

  6. 5.0
    Former Employee, more than 1 year

    Great place with lots of opportunities

    Jan 24, 2022 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The people, collaboration, good pay

    Cons

    A little behind in some industry trends, but I saw a commitment to catch up

    Continue reading
    2 people found this review helpful

    FHLBank Chicago Response

    We agree - our people and the teamwork that we engage in every day are some of the best parts of working at FHLBank Chicago. We are always working to lead effectively and insightfully on behalf of our employees and members, watching trends, pivoting when necessary, and making smart decisions for today and for the long term. We’re glad to hear you found plenty of opportunities to grow at the Bank.

  7. 2.0
    Former Employee, more than 1 year

    Good Entry Level Position and People are nice

    Feb 2, 2022 - Risk Analyst in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great people to work with. Good benefits.

    Cons

    Since 2021, Far too many issues. They mostly look for people to work until they get burned out. High employee turnover.

    Continue reading
    4 people found this review helpful

    FHLBank Chicago Response

    We agree that our people and benefits are some of the best parts of FHLBC. We provide resources such as our Workforce Working Group, Employee Resource Groups, our HR Business Partners and numerous professional development options for employees to express concerns and find additional training to grow in their role. We use the feedback learned through those resources every day to ensure our employees feel supported, respected, know their career path and are set up for success.

  8. 4.0
    Current Employee

    Good people

    Jan 18, 2022 - Operations Analyst in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    I enjoyed who I worked with

    Cons

    Some people just there collecting paychecks, showing face

    1 person found this review helpful
  9. 3.0
    Current Employee, more than 5 years

    Mixed Feelings

    Jan 4, 2022 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great benefits, friendly coworkers, multiple opportunities for career growth

    Cons

    Overworked, lack of cross training, little support provided to improve job situation

    4 people found this review helpful
  10. 1.0
    Current Employee

    mercy for my friends, the law for my enemies

    Feb 9, 2022 - Technical Support in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    very hard to get fired unless you won't surrender your medical autonomy. keep your head down, nod along, and tick the boxes and you'll have a job for life. jobs are so easy you can take a lot of time afk if you keep logged into teams. new office is really nice and gym is cheap.

    Cons

    they talk all day about DI&E but it's just for show - upper management is a sea of white faces - if they practiced what they preached they'd resign and make way for minority voices. their vaccine mandate hit people of color the hardest - this will be looked back on in years to come as institutional racism imo. ~ bad covid response meant all the decent folk and managers left or got force resigned. we were told people 'resigned' only to find them on linkedin looking for jobs - faux fired - some of the best people at the bank - so shortsighted and malicious - we all lost trust in the bank when it happened. many had no choice but to pick between something they didn't want to do and feeding their family - terrible to do that to people - terrible. most people I talk to are job hunting hard. ~ competencies are used to deny you advancement but never to help you. if management likes you, they'll bump you up on the spot. if they don't like you they'll use the competencies to block you off. ~ HR don't listen, they'll just give you some speech about how great the company is - never listen to concerns. look at their responses to other reviews - you'll get the same responses if you ever dare question the place or suggest improvements. find one review where they admitted any fault - you won't. ~ CIO is not a tech person and sits in his closed door office. no idea how to run the department and it shows. don't bother giving feedback he doesn't listen to the little people - he knows it all. ~ culture took a big nosedive when Ericson took over - he's very uninspiring and is just a numbers guy - so everybody gets treated as a number not a person - demotivation all over the place. ~ I'd stay very clear - it might look ok the first few months but then you'll soon realize what the place truly is - crazy toxic - most are counting the hours until they can get out. trust me - don't apply!!

    Continue reading
    10 people found this review helpful

    FHLBank Chicago Response

    We are disappointed to read this account as it contains outright falsehoods, displaced blame and negativity. Our culture and mission are dedicated to community and inclusivity which is why we prioritize our Diversity, Equity and Inclusion efforts at every level of the Bank. Our employees’ health and safety is paramount and we have chosen to make sure that our staff is fully vaccinated. The published competencies that we use through the performance management process are designed to help all employees demonstrate their skills, see their progress and measure what they need to accomplish to drive their career forward. We understand that these efforts do not make everyone happy but they are important values to our business, to encouraging our best performance and to achieving the mission of the Bank. Our organization is always looking for opportunities to grow and change in a positive direction, especially for our valued employees and on behalf of our members. In addition to our working groups, engagement teams, employee resource groups, our leaders and HR business partners are always listening for suggestions to improve. We recognize our outstanding performers at all levels and are proud to work with so many dedicated and hardworking individuals who bring their whole selves to our business and mission.

Viewing 1 - 10 of 106 Reviews

FHLBank Chicago Reviews FAQs

FHLBank Chicago has an overall rating of 3.0 out of 5, based on over 125 reviews left anonymously by employees. 44% of employees would recommend working at FHLBank Chicago to a friend and 36% have a positive outlook for the business. This rating has decreased by -11% over the last 12 months.

According to anonymously submitted Glassdoor reviews, FHLBank Chicago employees rate their compensation and benefits as 3.7 out of 5. Find out more about salaries and benefits at FHLBank Chicago. This rating has decreased by -7% over the last 12 months.

44% of FHLBank Chicago employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated FHLBank Chicago 2.9 out of 5 for work life balance, 2.9 for culture and values and 2.6 for career opportunities.

According to reviews on Glassdoor, employees commonly mention the pros of working at FHLBank Chicago to be compensation, coworkers, benefits and the cons to be diversity and inclusion, senior leadership, career development.

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FHLBank Chicago photo of: Employees in the Cafe of our new Office
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