BARRINGTON – Barrington Bank and Trust recently made a $1 million investment in the Chicago Community Loan Fund.
The Chicago Community Loan Fund is committed to helping create communities where people thrive in metropolitan Chicago by leveraging their investments in community development for the greatest impact possible. The organization remains Chicagoland-focused and dedicated to providing low-cost financing and technical assistance in low- to moderate-income communities that need it most.
Thus far, the fund has closed 274 loans which total more than $72 million, leveraged an additional $875 million, created/preserved over 6,700 units of affordable or mixed-income housing, 2,000 jobs, and 2.4 million square feet of community facility space or commercial/retail real estate.
Barrington Bank & Trust Co., N.A., and its branches including Hoffman Estates Community Bank, Hanover Park Community Bank and Palatine Bank & Trust have grown to more than $1 billion in assets. Decisions regarding rates, products and loan approvals are made on-site by the local management team and deposits of the bank are reinvested back into the surrounding communities.
For more information, visit www.barringtonbank.com.