To request a Letter of Credit,
please complete the appropriate
Letter of Credit application located
on the Bank’s website at
www.fhlbdm.com and fax to the
Money Desk at 515.699.1250 for
processing. Application must be
received by 3:00 PM for same day
processing.
Holiday Financial Planning
As a cooperative, we want
to provide the best service to all
of our members during the holiday
season when the financial markets
generally present some challenging
investment and funding
circumstances.
The overnight fed funds rate can be
very volatile during the business
day prior to a major holiday. Due to
this anticipated market volatility
during the winter holidays, the
Bank’s hours will be abbreviated as
noted below for Advances
transactions and the Mortgage
Partnership Finance® Program.
Holiday Closures and Abbreviated
Hours
FHLB Des Moines and the bond
market will be closed on Tuesday,
December 25, 2007 and Tuesday,
January 1, 2008 in observance of the
Christmas and New Year holidays. It
is anticipated the bond market
will close at 1:00 PM CT
on the following dates:
Monday, December 24, 2007
Monday, December 31, 2007
Since the market's early closing
impacts the Bank's product
availability and pricing, the
only advances we will be offering
after 1:00 PM CT on the dates listed
above will be Fed Funds advances and
repayments. Fed Funds Advance
requests may be made through
eAdvantage or by contacting the
Money Desk at 800.544.3452, ext.
1013. All Mortgage Partnership
Finance® Program transactions must
be completed by 1:00 PM CT on the
same dates listed above.
Wire Transfer Services
Wire Transfer Services will be
open normal operating hours – from 8
AM to 4:30 PM – to serve you,
however, please let us know your
funding requirements as soon as you
are aware of your daily need to draw
or deposit funds. With your
cooperation, we can efficiently
accommodate your investment needs.
Notifying the FHLB Des Moines Wire
Transfer Services area by noon
allows us to provide the best rate
possible to all of our members on
the days prior to the Christmas and
New Year holidays.
Please contact the Money Desk at
800.544.3452, ext. 1013 if you have
any questions.
Urban
First-time Homebuyer Fund
Twenty-three member financial
institutions were awarded a total of
$1.0 million through the FHLB Des
Moines Urban First-time Homebuyer
Fund.
The funds provide down payment,
closing cost, counseling or
rehabilitation assistance to
first-time homebuyers in urban
areas. Since the program was
introduced in 2006, the Bank has
awarded $3.3 million to 70 member
institutions throughout its
five-state district. More than 330
families have benefited from these
grants.
Click here for a summary of 2007
funds by
state and a complete list of
2007
recipients.
For more information about the
Urban First-time Homebuyer Fund,
contact the Community Investment
Department at 800.544.3452, ext.
1173, or visit
Urban First-time Homebuyer Fund page.
Homebuyer Education Grants Awarded
Homebuyers need the right information to make informed decisions before they
purchase their homes. Each of the five states in the Bank’s District received a
$10,000 grant to boost their important efforts in homeownership education. The
five programs that received the grants were:
|
State |
Project |
|
Iowa |
Iowa Home Ownership
Education Program
Des
Moines, Iowa |
|
Minnesota |
Greater Minnesota
Housing Fund & the
Mille Lacs Band of Ojibwe |
|
Missouri |
Home Ownership Made
Easier
H.O.M.E and
University of Missouri
Extension |
|
North Dakota |
Coalition of Indian
Housing Authorities |
|
South Dakota |
Oweesta – the only
certified Native
Community Development
Financial Institution
(Native CDFI)
intermediary in the
country |
