Galesburg, Ill.-based F&M Bank is committing $20,000 to help local small businesses and nonprofits.
The funds will go to several local small businesses and nonprofits in the Galesburg, Brimfield and Peoria, Ill., areas through a partnership with the Federal Home Loan Bank of Chicago. Recipients included the Knox County Humane Society No Kill Animal Shelter and the Safe Harbor Family Crisis Center.
F&M Bank staff submitted nominations for those businesses they felt were most impacted by the pandemic and checks have been presented to all of these small businesses and nonprofit organizations.
The Federal Home Loan Bank of Chicago is offering a COVID-19 Relief Program consisting of zero-rate advances and grants to support all of its member institutions and the communities they serve as they respond to the COVID-19 pandemic.
The $373 million F&M Bank has five offices in Illinois. Its holding company, the $1 billion Central Bancshares, Inc., also operates two charters in Iowa: CBI Bank & Trust in Muscatine and Walcott Trust and Savings Bank, Walcott.