CareSource and Huntington Bank Receives a Total of $6.9 Million in Affordable Housing Program Grants from the Federal Home Loan Bank of Cincinnati

Grants will be used to support nearly 340 affordable housing units throughout the state of Ohio

DAYTON, Ohio – (Dec. 17, 2025) – CareSource, a nationally recognized nonprofit managed care organization and Huntington Bank announced Wednesday they have been awarded a total of $6.9 million dollars in affordable housing program grants from the Federal Home Loan Bank (FHLB) of Cincinnati’s Affordable Housing Program (AHP).

The grant dollars will support both rehabilitation and construction of existing properties in addition to emergency home repair and homeowner assistance programs throughout the state of Ohio. Innovative projects like Unison Health’s Whitney Manor, a permanent supportive housing project in Toledo and Youngstown Neighborhood Development Corporation’s Home buyers Assistance Program, located throughout 14 Appalachian counties, will benefit from these grants.

FHLB Cincinnati allocates at least 10 percent of its net income annually to the AHP, which makes housing more affordable for households at or below 80 percent of the area median income. A total of 30 FHLB members received nearly $51.9 million in AHP subsidy to help produce 2,990 units of affordable housing for very low to moderate income residents. Of 56 project awards, 28 support owner-occupied housing and 28 support rental housing.

“CareSource believes that access to affordable housing significantly improves health outcomes, positively impacting individual lives and families as well as the broader community,” said Maura Klein, state housing strategy lead, CareSource Ohio. “CareSource is committed to fostering partnerships that drive innovative solutions, including expanding homeownership opportunities, to ensure we effectively meet the diverse needs of our members.”

CareSource has partnered with Huntington Bank on the FHLB Affordable Housing Program Grants for years. The collaboration between the two organizations not only enhances the quality of the application, but also strengthens the partnership between organizations, ultimately benefiting the communities they serve.

“Huntington Bank has a long-standing history of collaborating with CareSource to advance affordable housing initiatives in Ohio, and we are proud that our common goal of improving people’s lives continues to make an impact across the state,” said Eric Stachler, FHLB Program Manager for Huntington. “Together, we remain dedicated to making a meaningful difference in the lives of individuals and families by supporting access to safe and affordable homes when they need it most.”

Since 2020, CareSource has provided over $40 million dollars in loans to 20 affordable housing partners, including $28 million across the state of Ohio.

 “For more than 30 years, our Affordable Housing Program has been steadily providing funds to make lasting change in our region by addressing the needs for affordable housing,” said Andy Howell, FHLB Cincinnati, President and CEO. “CareSource’s continued commitment to using AHP funds to serve that mission has made a tremendous impact. The nearly $7 million in grants CareSource and partners were awarded in 2025 will go a long way to continue this important work.”

The AHP is FHLB Cincinnati’s most impactful affordable housing initiative, having disbursed over $458 million in funding since 1990. Grants are awarded on a competitive basis each year. CareSource has been participating in the program since 2019 and is the only managed care organization in the state participating in the grant competition.

For more information on specific awards and details of AHP, visit the FHLB Cincinnati website at www.fhlbcin.com.

About the FHLB

The FHLB is an AA+ rated wholesale cooperative bank owned by 601-member financial institutions, including commercial banks, thrifts, credit unions, insurance companies and community development financial institutions in Kentucky, Ohio and Tennessee. The FHLB provides members with access to products and services (primarily Advances, which are a readily available, low-cost source of funds, purchases of certain mortgage loans from members, and issuance of Letters of Credit to members) and a competitive return through quarterly dividends on their capital investment in the FHLB. The FHLB funds these products and services by raising private-sector capital from member-stockholders and, with the other Federal Home Loan Banks (FHLBanks) in the FHLBank System, issuing high-quality debt in the global capital markets. The FHLB also funds community investment programs that help its members create affordable housing and promote community economic development.