Low-cost Source of Funds
For FHLB Des Moines members, meeting the credit needs of their local community is being a good neighbor and is also good business. Housing and economic development projects are vital to the health of a community. Members can use a Community Investment Advance (CIA) to support these projects. Members are provided long term fixed rate advances at lower rates for eligible residential and commercial loans. The standard requirements of FHLB Des Moines credit and collateral policies apply to these special advances.
FHLB Des Moines members are provided a Community Investment Advance limit of $6.0 million. This limit is reduced by the outstanding balance of member Community Investment Advances.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.
Contact the Community Investment Department at 800.544.3452, ext. 1173 for assistance in completing an application.
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. These advances can be used to fund eligible Commercial Lending Advances or Residential Lending Advances. The Community Investment Advance limit of $6.0 million per member may be waived on a case-by-case basis for any member borrowing funds for a qualifying disaster area project.
Additional Resources & Information