2006
Press Release
Press
Release
For Immediate Release:
December 13, 2006
Contact:
Angie Richards
515.281.1014
arichards@fhlbdm.com
DES MOINES AREA
BANKS GIVE THE GIFT OF HOMEOWNERSHIP
’Tis the season for making dreams
come true and this year it has
special meaning for low- to
moderate-income individuals and
families in the Des Moines area.
A generous holiday “gift” of grants
totaling $400,000 from the Federal
Home Loan Bank of Des Moines to four
local financial institutions will
help more than 80 individuals and
families living in the greater Des
Moines area achieve the dream of
owning their own home.
Through two funds – Urban
Homeownership and Urban First-Time
Homeownership – the Home Loan Bank
has awarded grants of $100,000 each
to Iowa State Bank; Bankers Trust
Company; Liberty Bank, and Great
Western Bank. Each is currently
developing a process to distribute
the funds to qualified homebuyers.
The Home Loan Bank programs are
designed for homebuyers at certain
income levels. To be eligible for
the grants, Des Moines homebuyers
must be at or below 80 percent of
the area’s median income, and all
buyers must complete a course in
financial literacy. Qualified
applicants will be eligible for up
to $5,000 each towards the purchase
of a home.
For more information about the Urban
Homeownership programs, call:
Iowa State Bank, 515.246.6368
Bankers Trust, 515.222.2000
Liberty Bank, 515.224.3779
Great Western Bank, 515.223.1607
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The Federal Home
Loan Bank of Des Moines is a
wholesale cooperative bank that
provides low-cost short and
long-term funding and community
lending to more than 1,200 members,
including commercial banks, saving
institutions, credit unions and
insurance companies. The Bank is
wholly owned by its members and
receives no taxpayer funding. The
Des Moines Bank serves Iowa,
Minnesota, Missouri, North Dakota
and South Dakota and is one of
twelve regional Banks that make up
the Federal Home Loan Bank System.
