Associated Announces Participation in Downpayment Plus® Program
Green Bay, Wis. - April 2, 2012 - Associated Bank recently announced its participation in the Federal Home Loan Bank of Chicago (FHLBC) Downpayment Plus ® Program (DPP®).
Downpayment Plus Program (DPP) grants are offered for down payment assistance for low and moderate income homebuyers. This program provides forgivable grants to assist with down payment and closing costs for households with incomes at or below 80% of the area median income and is not limited to first-time homebuyers.
"Associated Bank is pleased to be active participants in the Downpayment Plus Program," said David G. Bauer, Senior Vice President and Director of Mortgage Sales for Associated Bank. "We are thrilled to help homebuyers make their dream of homeownership a reality."
In 2011, Associated Bank provided more than $500,000 in DPP® grants and in 2012, Associated will be able to provide $400,000 in DPP funds, providing an opportunity to help eligible buyers obtain up to $8,000 per household in assistance through the program.
Downpayment Plus Program (DPP) is funded by the Federal Home Loan Bank of Chicago and administered by the Illinois League of Financial Institutions (ILFI) and the Wisconsin Partnership for Housing Development (WPHD).
In addition to DPP, Associated also offers the Affordable Housing Program (AHP), for the purchase, construction or rehabilitation of affordable owner-occupied or rental units. Associated Bank has received over $15 million in AHP awards for 125 owner-occupied and rental projects.
More information is available at www.fhlbc.com.
About Associated Banc-Corp
Associated Banc-Corp (NASDAQ: ASBC) has total assets of $22 billion and is one of the top 50 financial services holding companies operating in the United States. Headquartered in Green Bay, Wis., Associated has more than 250 banking locations serving more than 150 communities throughout Wisconsin, Illinois and Minnesota. The company offers a full range of banking services and other financial products and services. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.
About the Federal Home Loan Bank of Chicago
The Federal Home Loan Bank of Chicago (FHLBC) is a $71.3 billion wholesale bank. The mission of the FHLBC Chicago is to partner with our member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities.
Contact: Autumn M. Latimore
Senior Vice President
Public Relations Director