Community Investment Advance
A low
cost source of funds for loans in
your community
For members of FHLB Des Moines,
meeting the credit needs of their
local community is being a good
neighbor and is also good business.
Housing and economic development
initiatives are vital to the health
of a community's economy. Members
can use a Community Investment
Advance (CIA) to support these
initiatives. Members are provided
advances at lower rates for eligible
advances. The price of this advance
is currently the Bank's cost of
funds plus administrative costs,
which cover the Bank’s expenses. The
standard requirements of FHLB Des
Moines credit and collateral
policies apply to these special
advances.
Members can use commercial loans and
residential loans to qualify for a
Community Investment Cash Advance.
For more information, see the
Commercial Lending Advance
and
Residential Lending Advance
web pages. Contact the Community
Investment Department at
1.800.544.3452, ext. 1173 for
assistance in completing an
application.
Community Investment Advance Limits
Beginning January 1, 2011, FHLB Des
Moines members are provided a
Community Investment Advance limit
of $6 million that may be used for
Commercial Lending Advances or
Residential Lending Advances. This
limit is reduced by the outstanding
balance of member CIA advances,
including advances under the retired
Rural Capital Advance program. These
limits are subject to program limits
for the Commercial Lending Advance
or Residential Lending Advance,
which are established in the Bank’s
Community Lending Plan.
Community Investment Cash
Advances in Federal Disaster Areas
FHLB Des Moines members located in a
Federal Disaster Area are eligible
for Community Investment Advances
which can be used to help finance
repairs or losses related to a
disaster. See
Federal Disaster Areas for
further information. These advances
can be used to fund eligible
Commercial Lending Advances or
Residential Lending Advances. The
standard requirements of FHLB Des
Moines credit and collateral
policies apply to these special
advances.
The per member Community Investment
Advance Limit of $6 million may be
waived for any member borrowing
funds for eligible loans in a
Federally Declared Disaster Area.
For more information, please call
the Community Investment Department
at 800.544.3452, ext. 1173. For a
list of federal disaster
declarations, visit the FEMA website
at
www.fema.gov.
