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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
      Feb 3, 2026

      Not as it seems. Poorly ran organization

      Anonymous employee
      Recommend
      CEO approval
      Business Outlook

      Pros

      Snacks, cool office, and a few good co-workers.

      Cons

      I joined Federal Home Loan Bank of Chicago feeling excited and optimistic. On the surface, the organization appears well-structured and professional. Unfortunately, after a short time in my role, it became clear that this image does not reflect the internal reality. Many leaders, directors, and managers appear to lack basic management experience and are placed into roles without the skills or background needed to lead effectively. Most concerning, the HR Director has no prior HR experience, yet oversees the entire department—resulting in inconsistent practices and little meaningful employee support. Early in my tenure, I became involved in matters related to a lawsuit from a former employee who had been terminated. This experience highlighted the toxic environment that is tolerated—and, at times, facilitated—by leadership. Despite this, the same leadership behaviors continue unchecked. The director of my team managed primarily through fear rather than collaboration or trust. There was open discussion with my manager that this leader needed management training to be more aggressive, which speaks volumes about the organization’s leadership philosophy. Employee “recognition” was largely tied to working nights, weekends, and consistently performing far beyond one’s job description—creating an unhealthy and unsustainable culture. Collaboration across teams was minimal, silos were strong, and cross-functional work was ineffective. Town halls and all-staff meetings were poorly planned, poorly produced, and disengaging. Morale was visibly low, with little sense that employees felt heard or valued. Overall, this organization struggles with leadership accountability, culture, and basic people management. While it may look polished from the outside, internally it is disorganized, fear-driven, and difficult to navigate without sacrificing personal well-being.

      avatar
      FHLBank Chicago Response
      5mo
      We are committed to fostering a professional workplace grounded in collaboration, accountability, and customer-centered outcomes. Our dedicated leaders model these values, and we invest heavily in leadership development and people management capability. This includes a structured, multi-year talent strategy designed to build future leadership capacity across the Bank, with explicit commitments to developing high potential employees, embedding continuous learning in daily workflows, and ensuring leadership continuity as the organization grows. We reinforce leadership capability through dedicated manager and leadership development programs. For example, our growing CHAMP (Coaches Helping to Accelerate Managers Program) mentoring initiative pairs new people managers with experienced leaders to strengthen communication, engagement, and core leadership skills. Beyond this, employees completed more than 520 upskilling courses last year, earning certifications and building the capabilities needed for evolving roles and future leadership opportunities. These efforts demonstrate our continued investment in a skilled, confident, and well supported leadership pipeline. We also value a workplace that is safe, respectful, and sustainable for all employees. We offer multiple channels for voicing concerns, including dedicated group HR Business Partners, formal engagement surveys, listening sessions, Employee Resource Groups, and Meet a Leader forums, ensuring employees can meaningfully influence how we evolve our culture and leadership practices. At the same time, we expect employees to remain accountable to their work, their actions, and to one another. While organizational change presents challenges, our ongoing assessments of communication practices, team support, recognition, and alignment across the Bank ensure we remain responsive and adaptive to address stress points. Recent indicators reinforce the stability and momentum of our workforce: we have maintained a lower than industry average employee turnover rate and achieved strong retention rates for high potential employees, demonstrating strength in both employee engagement and long term commitment to high value talent. We also support mobility and growth through role promotions and internal transfers, highlighting pathways for advancement and leadership readiness within the Bank. We are proud of our engaged and dedicated workforce who continue to inform our mission-driven culture, reinforcing our commitment to continuous improvement and strong leadership practices.
      1.0
      Jan 13, 2026

      Looks Good Until It Isn’t

      Anonymous employee
      Recommend
      CEO approval
      Business Outlook

      Pros

      Office is in a good location. Benefits are decent compared to similar organizations. However, pay isn't very competitive. Some individual contributors are genuinely good people and easy to work with.

      Cons

      Policies change frequently and often at the expense of employees, with limited transparency or advance communication. This creates an environment where long-term planning—career, compensation, or work-life balance—is difficult. HR involvement tends to be reactive and performative rather than supportive. Escalations frequently prioritize risk management over employee advocacy, which can feel adversarial instead of neutral. The culture is highly political. Visibility and appearing busy are often rewarded more than measurable outcomes or delivered value. In practice, this encourages performative work rather than effective work. Many teams rely heavily on contractors for execution while FTEs manage optics and process. Contractor-to-FTE conversion is rare and slow; in my experience, it can take several years and often depends more on organizational politics than performance. This may be a tolerable environment for those comfortable navigating bureaucracy and ambiguity, but it is frustrating for high performers, those seeking clarity and stability, or contractors expecting a clear path to conversion.

      avatar
      FHLBank Chicago Response
      5mo
      We are proud of the competitive benefits we offer employees to ensure they feel well supported and are able to do their best work. We agree that we have very talented and dedicated employees; we make sure they have ample opportunities to contribute to meaningful work that has a long-term impact in support of our mission. We understand that periods of change can feel challenging. Like many organizations, we continue to evolve in response to business needs. Employees at all levels play an important role in helping shape our priorities, and we encourage them to bring their perspectives forward.
      5.0
      Dec 24, 2025

      FHLB Chicago Review

      Data governance analyst
      Recommend
      CEO approval
      Business Outlook

      Pros

      Had a really great internship program

      Cons

      My didn’t feel challenged enough during my time

      Viewing 7 - 9 of 167 Reviews
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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.