Federal Home Loan Bank of Chicago awards $15,000.00 grant to S1 Tech Services, LLC.
Funds sponsored by Staley Credit Union supports small business in the Central Illinois community.
DECATUR, IL (September 17, 2024) — The Federal Home Loan Bank of Chicago (FHLBank Chicago) awarded S1 Tech Services, LLC a grant of $15,000.00 through its Community First® Accelerate Grants for Small Business program. FHLBank Chicago offers grants of up to $30,000 to eligible small businesses to advance economic opportunity in the communities it serves.
S1 Tech Services, LLC provides local businesses and organizations an affordable, well-designed, and secure web presence. Their services have contributed to community building in Central Illinois by providing community banks & credit unions with web services that allow them to compete online with the national financial institutions and serve the citizens in this area.
“I’m excited to be able to use these funds to make various system upgrades that would allow us to expand our customer base and provide our clients with new site features,” stated Brian Sullivan, owner of S1 Tech Services, LLC. “This would in turn result in more work for existing contractors, new contractual hires, and it would position us to meet changes in technology over the next few years.”
Through FHLBank Chicago’s member institutions, like Staley Credit Union, Accelerate Grants assist the growth and development of small businesses in Illinois and Wisconsin. All grant recipients are small businesses that make a difference in their community, and funds are intended for the following purposes:
- The purchase or improvement of property
- The purchase of machinery, tools or equipment
- The purchase of inventory, materials, or supplies
- Workforce development or training
- New or upgraded technology
“Small businesses play an integral role in local communities in driving economic growth, from creating jobs to fostering community development,” said Katie Naftzger, Senior Vice President, Community Investment Officer, FHLBank Chicago. “As a leader in the housing and community development space, FHLBank Chicago recognizes that affordable housing isn’t just about the homes themselves—it’s about ensuring entire communities have what they need to thrive, including economic opportunities for the residents and small businesses who call them home.”
The grant was sponsored by Staley Credit Union, based in Decatur, Illinois.
“Brian Sullivan has been serving Central Illinois since 1996 and under the S1 Tech Services, LLC name since 2019,” stated Kimberly Ervin, President & CEO of Staley Credit Union. “Staley Credit Union has a long-established relationship with Brain Sullivan and his support & partnership has been critical to the success of such a wide variety of local companies that he easily was our first choice for this grant.”
For more information on Accelerate Grants and eligibility, visit www.fhlbc.com.
About Staley Credit Union
Staley Credit Union is based in Decatur, Illinois with additional branches in Lafayette, IN and Loudon, TN. Staley serves over 18,000 members across every US state and multiple foreign countries. Founded in 1930, Staley CU embraced the Credit Union philosophy of “People Helping People,” and its mission has been to provide convenient, responsive, and progressive financial services to its members. You can learn more about Staley Credit Union and the services they provide at their website, www.staleycu.com.
About the Federal Home Loan Bank of Chicago
FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members’ customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com.
“Community First” is a registered trademark of the Federal Home Loan Bank of Chicago.
