The Federal Home Loan Bank of Des Moines is a valuable partner to nearly 1,200 community and commercial banks, credit unions, thrifts, insurance companies and community development financial institutions throughout Iowa, Minnesota, Missouri, North Dakota and South Dakota. FHLB Des Moines provides readily available, low-cost liquidity to local lenders in all economic cycles. Member financial institutions have access to a variety of products and services designed to help lower their funding costs, manage liquidity, improve asset and liability management, meet community credit needs, control risk and fund mortgages originated for sale in the secondary market.
FHLB Des Moines is one of 12 regional banks in the Federal Home Loan Bank System. Established by Congress in 1932 to support mortgage lending, the FHLBank System provides a stable source of funding to approximately 7.600 federally insured depository institutions. Governed by the Federal Housing Finance Agency, the FHLBanks are cooperatively owned by their members, operate independently with their own boards of directors and are registered with the Securities and Exchange Commission.
The FHLBanks are headquartered in:
FHLB Des Moines serves the economic and housing needs of its member financial institutions by providing options for community development initiatives. The Des Moines Bank sets aside 10 percent of its net income for affordable housing programs each year. Grants are awarded to members to help them meet the housing needs of low- to moderate-income individuals and families and other special populations in their communities. Since 1990, these funds have helped construct affordable housing units in states throughout the Midwest, positively impacting job growth and development costs in the Bank’s district.
To provide funding and liquidity for the Bank’s members and housing associates so that they can meet the housing, economic development and business needs of the communities they serve.