Press
Release
For Immediate Release:
December 13, 2006
Contact:
Angie Richards
515.281.1014
arichards@fhlbdm.com
TWIN CITIES FINANCIAL
INSTITUTIONS 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 Twin Cities.
A generous holiday “gift” of grants
totaling $395,000 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 Twin Cities
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 Wells Fargo Bank, Minneapolis;
St. Paul Federal Credit Union, and
the St. Paul Postal Employees Credit
Union and a $95,000 grant to Bremer
Bank, South St. Paul. 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, Twin Cities’ 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:
Wells Fargo, Minneapolis,
612.667.7485
Bremer Bank, South St. Paul,
651.451.6822
St. Paul Federal Credit Union, (651)
772-8744
St. Paul Postal Employees Credit
Union, Woodbury, 651.770.7000
