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      FHLBank Chicago

      Engaged Employer

      FHLBank Chicago reviews

      3.2

      48% would recommend to a friend

      (167 total reviews)
      avatar

      Michael Ericson

      48% approve of CEO

      57% positive business outlook

      Ratings by demographic groups

      FHLBank Chicago has an employee rating of 3.2 out of 5 stars, based on 167 company reviews on Glassdoor which indicates that most employees have a good working experience there. The FHLBank Chicago employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.6 stars).

      Reviews by job title

      167 reviews
      1.0
      Nov 10, 2021

      Top Workplace? I don’t think so

      Anonymous employee
      Recommend
      CEO approval
      Business Outlook

      Pros

      Great benefits, decent pay, pension

      Cons

      Where to start? A PTO plan you really can’t use, being tracked by the CFO on what days you come into the new office and a toxic culture that gives you anxiety It used to be such a great place to work that cared about people and provided a work-life balance unlike no other. Then something changed. The culture started to move in the wrong direction. If you're a favorite, you can write your ticket. Just look at HR. You need to be a white, blond female, and there's instantly a job for you. It happened with the department head a few years ago, and it's happened again recently. Meanwhile, people of color are pushed out or leave because they can't take the blatant favoritism. Gone are the days when employees were valued and cared about. You need only look to the Bank's Return to Office plan for evidence. We're required to return no less than two days a week, AND they're going to check badge swipes to reinforce the rule!! I have friends in other companies whose CEOs have said return as much or as little as you want. The office is a resource. You can either use it or not. This isn't a workplace anymore. It's a prison camp. Come in and do your two-day sentence each week. And the CFO is playing warden. He's been tracking the days when employees have been coming into the office. I'm sure it will impact our bonus payments next year; the more you come in, the higher the bonus. The place is a joke among its staff. If you're being interviewed for a job, ask why it's vacant. People have been leaving en masse for months. The place is going down the tubes, and the CEO and his CHRO minion are calling full steam ahead. Get me off this sinking ship!

      avatar
      FHLBank Chicago Response
      4y
      Everyone has a role in helping ensure we have a strong culture and that begins with the way we speak to each other and treat our coworkers. While we are always open to feedback and encourage employees to reach out to HR Business Partners when concerns arise, toxic language is not a constructive means of contributing to solutions. Our return to office plan is flexible and in line with other firms in our industry. The Bank strongly believes that its mission, vision and culture is best served by having some level of in-person collaboration and teamwork, and has strived to provide balance and flexibility to its employee with the blended operating model. While some employees enjoy working remotely, others prefer being in our office. Our model was created with this in mind and we have done our best to take various working styles into account. We have been consistently communicating our eventual move to a hybrid model throughout the pandemic, shifted our target date as needed, and worked to give employees enough notice to make a transition to this new model. Turnover has affected every organization this year and while we have vacancies, we have also added new employees and roles that will help us continue to grow our organization. We’ve also made improvements to our performance management process which allows us to better assess and recognize strong performers. We have a strong dedication and mission to ensure our workplace is diverse, equitable, and inclusive. From a recruiting and hiring standpoint, we have a bankwide goal of considering a diverse slate of candidates for open positions. DEI is woven through our organization, whether it’s through trainings and employee-led sessions or in our practices when deciding on vendors or supporting organizations in our communities. The pandemic has proven difficult for all organizations as they assess new ways of working and we will continue to support our employees on our path forward.
      5.0
      Nov 10, 2021

      Best Place I've Worked

      Anonymous employee
      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

      1.0
      Nov 3, 2021

      Not a place to grow

      Anonymous employee
      Recommend
      CEO approval
      Business Outlook

      Pros

      Interesting work. Most people here were great but favoritism is definitely a thing. PTO policy is generous but don’t expect to be able to use all of it.

      Cons

      Honest advice if you decide to accept a role here: 1. Don’t expect growth. Be very comfortable with the title you are given when you’re hired and be prepared to keep it until you decide to go someplace else. They reel in newcomers by giving them more attractive titles. Once you are in it seems unclear on how to get a title bump or promotion even after working hard and dedicating years. There’s been a huge amount of turnover lately because people are burnt out. Burnt out employees who feel under-appreciated get disengaged and leave. They seem to blame their workforce for a lack of engagement rather than looking in the mirror. 2. If you have a problem with a bad leader who is a risk to the business it’s not worth it to speak up to HR. They won’t do anything about it and voicing concerns will be held against you in the long run. Even if you are actually trying to help and improve things. 3. If you prefer to work 100% remote that won’t be an option in future. Not sure when but there will eventually be a hybrid work setup and coming in a couple times a week will be mandatory. I have not been to new office but it looks nice from pictures I saw. Overall I’m glad I was able to move on and find career growth somewhere else.

      avatar
      FHLBank Chicago Response
      4y
      We appreciate you sharing your comments and feedback. We believe maintaining a work/life balance plays an important role in the employee experience. If an employee is feeling overwhelmed, we encourage them to speak up and be honest with their managers. We’ve seen examples of teams reallocating work or working together to find more efficient paths forward. We’ve had many employees grow their careers at the Bank, whether it’s through promotions they have earned or taking a new career path while staying at the Bank. There are ways employees can provide feedback about any issues they are seeing and are encouraged to do so to help us continue to grow. HR Business Partners are always available to have open discussions and provide support wherever it is needed. We also have several working groups dedicated to identifying areas of opportunity based on employee feedback and their own experiences. These groups create solutions that continuously improve our culture and the way we work together. We are proud of our recently renovated workspace that allows us to collaborate for critical in-person interactions in supporting our members while allowing for flexibility throughout the week with remote work. We have adapted the way we work with each other and are excited for the journey ahead.
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      ReviewsFHLBank Chicago reviews

      Glassdoor has 194 FHLBank Chicago reviews submitted anonymously by FHLBank Chicago employees. Read employee reviews and ratings on Glassdoor to decide if FHLBank Chicago is right for you.