Half of the funds will go to Neighborhood Housing Services, which plans to provide up to $10,000 in home repairs in the Urban Neighborhood Initiative target area in Kansas City over the coming months. The group will rehab 30 homes – replacing roofs, updating plumbing, installing energy efficient windows and improving electrical systems. To apply for housing aid, prospective homeowners need to meet income qualifications. Households of one to two must earn no more than $35,600, and households of three or more must have household income less than $40,940. Neighborhood Housing Services (NHS) has received two AHP grants to assist with home rehab. Mark Stalsworth, president and CEO commented on this year’s funding, "NHS is very grateful for the opportunity to use these funds to continue to help homeowners that are not able to afford to pay for basic repairs. Programs like this speak to our mission, and help leverage resources that are increasingly scarce as federal funding is reduced."

U.S. Bank sponsored the NHS grant. “As a member of FHLB Des Moines and a provider of pre-development financing to NHS, U.S. Bank saw an opportunity to provide additional support for the rehabilitation which benefits low to moderate income households in Kansas City, Missouri. We are excited to partner with these organizations and this wonderful community,” said Sarah Kavanagh, assistant vice president of the Community Affairs Division, U.S. Bank

The other half of the funds will go to improving the Kansas City Rescue Mission Men’s Center. The Men’s Center provides housing and supportive services to 100 men daily. The facility, built in the early 1900's and purchased by KCRM in 1991, is need of a new roof, entrance and community room as well as wall repairs and restroom upgrades. "We are excited and delighted to be awarded this AHP grant by the Des Moines Home Loan Bank, and we're truly grateful to Bill Dana and Central Bank of Kansas City for sponsoring us,” said Joe Colaizzi, executive director, Kansas City Rescue Mission. “With the help of these two organizations, Kansas City Rescue Mission can ensure life-changing services for homeless men in a sturdy, functional building for years to come!”

Central Bank of Kansas City sponsored the grant. “For over 60 years Central Bank has been serving the urban community in Kansas City. We are proud to partner with the Federal Home Loan Bank of Des Moines to support the Kansas City Rescue Mission in their dedication in providing shelter and supportive services for the homeless in Kansas City,” said Bill Dana, president and CEO, Central Bank of Kansas City

During a celebration at the Men’s Center, Congressman Cleaver said, “Housing is one of the most critical issues we face in working to move forward and assist those who have fallen on hard times. When private businesses partner with the public sector to step up and lend a hand, there is no limit to what we can accomplish together. I commend the Federal Home Loan Bank of Des Moines, and all of those involved, for their generosity and concern for Missouri’s Fifth District.”

The grants are a portion of $55.3 million FHLB Des Moines has granted to Missouri’s affordable housing developments. The funds, part of the Bank’s Affordable Housing Program, will be used to improve and create 551 homes across the state. “This program was created to stabilize housing stock, in turn stabilizing communities,” said John Robinson, director, FHLB Des Moines. “Bringing homes back to life will encourage other people and businesses to invest in Kansas City.”

The program is funded from earnings of the Federal Home Loan Bank of Des Moines, a member-owned cooperative serving a five-state district that includes Missouri. Each year, the Bank sets aside 10 percent of its net income to fund projects that improve or create affordable housing. During the most recent grant round, the Bank awarded a total of $10.2 million in grants through its member institutions across its district.

Nearly $300,000 will go to the City of Sioux Fall’s Department of Community Development, which plans to provide up to $7,500 in home repairs to eligible families across the city. The City will rehab 50 homes – replacing roofs, updating plumbing, installing energy efficient windows and improving electrical systems. To apply for housing aid, prospective homeowners need to meet income qualifications. Darrin Smith, director of Community Development for the City of Sioux Falls commented on this year’s funding, “This grant, the largest non-government grant received in the history of the department, will help us continue our good work of strengthening and stabilizing neighborhoods, and improving the quality of life in Sioux Falls. We are extremely grateful to the Federal Home Loan Bank and The First National Bank in Sioux Falls for their support of our programs.” This is the City’s first Affordable Housing Program grant.

The First National Bank in Sioux Falls supported the grant. “As a long-time FHLB Des Moines member, The First National Bank in Sioux Falls is proud to work with our partners, the Federal Home Loan Bank of Des Moines and the City of Sioux Falls, to bring FHLB Des Moines Affordable Housing Program grant assistance to our Sioux Falls community,” said William L Baker, president & CEO, The First National Bank in Sioux Falls.

The remaining grants will improve living conditions for families with children, disabled persons, Native Americans and elderly individuals. Just as importantly, these investments are providing construction jobs and help local supply stores looking to sell their products. The following organizations received funding through AHP and hope to assist 267 people with home improvements this year.

Western Resources for the dis-ABLED Independence
BankWest, Inc. supported the grant the will provide WRDI with $250,000 to provide 25 disabled homeowners with funds to make accessibility modifications and renovations. The organization has seen a growing number of requests for services as other funding sources become unavailable.

Homes Are Possible, Inc.
A $300,000 grant sponsored by Dacotah Bank will provide vital repairs to homes that are over 50 years old, making them safer and more affordable. Repairs include major work on roofs, plumbing and electrical systems and HVAC equipment.

Oglala Sioux Lakota Housing
Dacotah Bank supported the second AHP grant received by Oglala Sioux Lakota Housing. It will be used to improve seven homes for elderly residents on the Pine Ridge Reservation.

Sisseton Wahpeton Housing Authority
Another grant sponsored by Dacotah Bank will put $300,000 to work on the Lake Traverse Native American Reservation. Thirty homeowners, all tribal members, will receive assistance in either making structural repairs or improving accessibility.

GROW South Dakota
GROW South Dakota and Peoples State Bank received two grants totaling nearly $540,000 that will fund two programs designed to strengthen low-income households by improving energy efficiency. Projects include replacing siding or shingles improving mechanical systems or structural repairs

NeighborWorks Dakota Home Resources
Sentinel Federal Credit Union supported a $120,000 grant that will partially fund an owner occupied rehab project in western South Dakota. NeighborWorks Dakota Home Resources has seen a cut in funding over the last year, but an increase in client needs – especially those living in manufactured housing. The grant will help fill a gap in funding.

The grants are a portion of $31.2 million FHLB Des Moines has granted to South Dakota’s affordable housing developments. The funds will be used to improve and create 4,637 homes across the state. “As the economy impacts South Dakota families, home maintenance is one of the first expenses to fall by the wayside. The Affordable Housing Program grants will help stabilize housing stock, in turn stabilizing communities,” said Van Fishback, director, FHLB Des Moines.

The program is funded from earnings of the Federal Home Loan Bank of Des Moines, a member-owned cooperative serving a five-state district that includes South Dakota. Each year, the Bank sets aside 10 percent of its net income to fund projects that improve or create affordable housing. During the most recent grant round, the Bank awarded a total of $10.2 million in grants through its member institutions across its district.

March Member Relations Conference Call
Thursday, March 28, 2013 at 3:00 PM – 4:00 PM Central Time

FHLB Des Moines will host a members-only teleconference call on Thursday, March 28, 2013 from 3:00 PM – 4:00 PM (Central Time). There is no charge for the call, and it is open to all FHLB Des Moines members. Topics will include: 

• Financial Highlights for Year-ended December 31, 2012
• FHLBank System information
• FHLB Des Moines business news update

Click here to register.
 

During a celebration at the J.C. Penney Conference Center, Congressman Wm. Lacy Clay said, “The $2.0 million in new grants we are announcing today will help seniors and low-income families rehab their homes and stay in the neighborhoods that they love. And I’m especially proud that the $2.0 million investment in my congressional district is being funded without spending one tax dollar.”

The grants, awarded to five area non-profits and supported by local financial institutions, will improve living conditions for low-income families with children, disabled persons and elderly individuals. The funds are targeted to communities that have some of the oldest housing in the city. Many of the homes are in need of necessary improvements, such as new roofs or foundations. The following organizations received funding through the FHLB Des Moines Affordable Housing Program (AHP) and hope to assist 275 people with home improvements this year.

Beyond Housing
Reliance Bank, Commerce Bank and Midwest BankCentre each supported a grant that will provide Beyond Housing with $900,000 in funds to improve 75 homes in Bel-Ridge, Velda City and Vinita Park. Each of these projects will provide vital repairs to homes that are over 60 years old, making them safer and more affordable. Eligible homeowners will receive up to $12,000 as a forgivable loan to make the improvements.

Community Action Agency of St. Louis
St. Louis Community Credit Union and Community Action Agency of St. Louis will use a $300,000 grant to help 40 families decrease the cost of their monthly utility bill. Eligible households will receive up to $7,500 in funds from the AHP grant to make improvements on their home and will then qualify for an additional $6,500 in weatherization funds making their home more energy efficient, healthy and safe.

Lemay Housing Partnership, Inc.
A $300,000 grant sponsored by First Missouri Credit Union will assist in making both interior and exterior repairs to 30 homes. The grant will be leveraged with funds from St. Louis County Port Authority and Missouri Housing Trust Fund and provide up to $10,000 in assistance. Repairs include major work on roofs, plumbing and electrical systems and HVAC equipment. Smaller repairs, usually performed by volunteers, include interior painting, window caulking and concrete restoration.

Rebuilding Together – St. Louis
Rebuilding Together – St. Louis partnered with Heartland Bank to secure a $300,000 grant to partially fund the rehabilitation of 100 homes across the city. The grants will benefit two of the organization’s programs, including its annual Rebuilding Day where over 2,500 volunteers come together to repair and improve homes, and its Major Repairs Program which addresses important repairs necessary to allow homeowners to continue to live independently and safely in their homes.

St. Louis County Office of Community Development
The Office of Community Development and Heartland Bank will use a $240,000 grant to provide 30 disabled homeowners with funds to make accessibility modifications and renovations. The AHP grant will be combined with Community Development Block Grant dollars and provide homeowners with up to $12,500 in assistance.

Started in 1990, the Federal Home Loan Bank System’s Affordable Housing Program is considered to be one of the most effective affordable housing programs created by Congress. Beyond Housing received one of the first grants ever awarded and two organizations, Rebuilding Together-St. Louis and Community Action Agency of St. Louis, MO, are receiving their first AHP grants. In total, these five organizations have secured $6.8 million in grants to create or improve 862 homes for St. Louis families.

The program is funded from earnings of the Federal Home Loan Bank of Des Moines, a member-owned cooperative serving a five-state district that includes Missouri. Each year, the Bank sets aside 10 percent of its net income to fund projects that improve or create affordable housing.

During the most recent grant round, the Bank awarded a total of $10.2 million in grants through its member institutions, including Commerce Bank, Heartland Bank, First Missouri Credit Union, Midwest BankCentre, Reliance Bank and St. Louis Community Credit Union. “These organizations provide vital assistance to communities throughout St. Louis,” said Dale Oberkfell, board chair, FHLB Des Moines. “Through partnerships with non-profits and our members, the FHLB Des Moines Affordable Housing Program changes the lives of people and families in need.” For a complete listing of the AHP grant recipients, please visit the Bank’s website.

The City of Brooklyn Park, in partnership with TopLine Federal Credit Union, received a $294,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Des Moines. Starting this spring, 50 Brooklyn Park households will have the opportunity to make improvements to their homes using these funds. Congressman Erik Paulsen congratulated the City and TopLine Federal Credit Union on their efforts to preserve homeownership and stabilize home values. “The pride and responsibility of homeownership remains an important part of strengthening families, neighborhoods, and communities. During recent economic hard times though, many hardworking Minnesota families have seen the dream of homeownership slip out of their grasp. That's why I am proud to be here today to recognize the work of public private partnerships in our community who are working to keep that dream alive.”

Like many other communities across the nation, Brooklyn Park has been significantly impacted by high rates of foreclosures. The geographic concentration of the foreclosures had the potential of leading to serious, long-term problems from a decrease in property values to vacancies. For the City to successfully continue into the future, it needed a plan that addressed the difficulties and reversed the problems.

Beginning in 2009, Brooklyn Park established a comprehensive foreclosure response plan that is using $9.5 million to recover approximately 222 homes throughout the community. Although the foreclosure recovery efforts are having a positive impact on neighborhoods, the program does not address the homes that remain owner-occupied.

To encourage reinvestment from homeowners, Brooklyn Park Home Repair Assistance was created as a mechanism to fund critical housing repairs. The program was jump started using $496,000 in FHLB Des Moines AHP grant funds. More than 80 low- to moderate-income families received forgivable loans during the first round. Today, Brooklyn Park Home Repair Assistance will continue with the addition of$294,000 in grant funds. “The funding made available through our partnership with FHLB Des Moines is filling a critical housing reinvestment niche in the community. Many Brooklyn Park homeowners without access to capital will be able to make needed home repairs,” states Mayor Jeffrey Lunde.

Each year, FHLB Des Moines returns 10 percent of its net income to communities through the Affordable Housing Program. These grants are awarded in partnership with member financial institutions like TopLine Federal Credit Union. “We actually were flattered to be asked to participate,” said Harry Carter, TopLine CEO. “I’m sure that every business in the community is glad to see programs like this so effectively help our neighbors, and we’re proud to be a small part of it.”

During the most recent AHP round, 42 homeownership and rental projects were awarded more than $10.0 million to create or improve 1,490 homes. Of this amount, Minnesota received $2.0 million for the creation or rehabilitation of 315 homes. For a complete listing of the AHP grant recipients, visit the Bank’s website.

More information about Brooklyn Park housing resources can be found by visiting www.brooklynpark.org/housing.

During a time of economic uncertainty, the following organizations have remained committed to their mission to improve homes, decrease homelessness and strengthen neighborhoods throughout Minnesota.

CommonBond Communities

CommonBond Communities and Western Bank have received $300,000 to partially fund the construction of West Broadway Curve in Northern Minneapolis. This development will provide affordable homes with Advantage Services for 48 families. North Minneapolis is the current home to the Minneapolis Public School headquarters and the proposed Hennepin County services building. “As this community continues to grow and develop, CommonBond is there to support it by providing an affordable housing option for working families,” said Paul Fate, president and CEO, CommonBond Communities. “Developing a housing community near public transit in North Minneapolis will complement the existing and proposed employment centers and provide many families with the convenience of transportation to their jobs.”

Habitat for Humanity of Minnesota

Habitat for Humanity of Minnesota and Bremer Bank have been awarded two grants. The first grant, totaling $150,800, will be used to support the A Brush with Kindness program which aims to rehabilitate 26 homes in Minneapolis and other communities across the state. The program was created to help preserve homeownership by partnering with current homeowners struggling to rehabilitate or maintain a safe place to live. The second grant totaling $297,000 will be used to fund the creation of 33 new homes across the state of Minnesota, which is about one-third of all new Habitat homes to be built in Minnesota this year. “Our partnership with FHLB Des Moines and Bremer Bank has provided Habitat for Humanity of Minnesota with over $5.6 million dollars that has helped us construct over 800 homes,” said Jan Plimpton, executive director, Habitat for Humanity of Minnesota. “Working together since 1998, we have helped hundreds of families improve their housing conditions and the communities in which they live. With support from great partners like the FHLB, we are able to celebrate the completion of the 2,000th Habitat home in Minnesota this year.”

Each year, FHLB Des Moines returns 10 percent of its net income to communities throughout its district through the Affordable Housing Program. AHP dollars are an important form of gap funding for a variety of projects as the grants are often combined with other federal and local dollars. “Through the AHP grants, these organizations are able to bring stability to the lives of the recipient families and individuals and strengthen the communities that they live in,” said Teresa Keegan, director, FHLB Des Moines. “These needs are met through the work of local lenders who partner with FHLB Des Moines to provide these important dollars without taxpayer funding.”

During its recent AHP round, 42 homeownership and rental projects were awarded over $10.0 million to create or improve 1,490 homes. Of this amount, Minnesota received $2.0 million for the creation or rehabilitation of 315 homes for families with children, seniors, persons with disabilities, at-risk youth and others. The projects will bring quality housing to both urban and rural communities.

New Advisory Council Members: FHLB Des Moines has appointed Tawney Brunsch, and Angela Morton Conley to serve three-year terms on its Advisory Council.

Ms. Brunsch is the executive director of Lakota Funds, which is a community development financial institution (CDFI) that provides financial services for tribal members on the Pine Ridge Reservation located in a portion of South Dakota that contains the poorest counties in the nation.

Ms. Conley is executive director of the Affordable Housing Commission of the City of St. Louis where she works to promote city living and neighborhood stabilization through housing production and social services for low-to-moderate income city residents.

Incumbent Advisory Council Members: FHLB Des Moines has re-appointed Leon Gray, Deb Houghtaling and Jessica Thomasson to serve three-year terms on its Advisory Council.

Mr. Gray is a National Homeownership Program management consultant at NeighborWorks. He coordinates the development of and facilitates the technical assistance to non-profit organizations to assist with the creation of single-family housing programs.

Ms. Houghtaling is the executive director of Grow Iowa Foundation, a non-profit organization that provides capital for small business and affordable housing development.

Ms. Thomasson is currently the executive director at Lutheran Social Services Housing where she actively supports the creation of healthy rural North Dakota communities through developing and operating affordable housing units.

For a complete list of the 2013 Advisory Council, visit the Advisory Council page.

New Member Director: Members of FHLB Des Moines elected John P. Rigler II, president and CEO of State Bank and Trust Company. Mr. Rigler has been in the banking industry for 40 years and has experience in correspondent banking, trusts and investments, mergers and acquisitions, and government relations, including lobby efforts with the Iowa Legislature.

Incumbent Member Director: Members of FHLB Des Moines have re-elected member director Van Fishback, director and vice chairman of First Bank & Trust in Brookings, South Dakota. Mr. Fishback joined First Bank & Trust in 1972 and previously served as its president and chief executive officer. In addition, Mr. Fishback is currently vice chairman of Fishback Financial Corporation, South Dakota’s largest privately held bank holding company.

Incumbent Independent Directors: Members of FHLB Des Moines re-elected John Kennedy and Paula Meyer to the board of directors.

John Kennedy is executive vice president and chief financial officer for the St. Louis Equity Fund, Inc. in St. Louis, Missouri which invests in affordable housing developments financed through corporate investment and in cooperation with local, state and federal governments.

Paula Meyer has 30 years of experience in the financial services industry as a senior manager. She retired in 2006 as president of the mutual fund and certificate businesses at Ameriprise Financial, where she led the development and implementation of numerous innovative investment products.

New Chairmen and Vice Chairmen: Dale Oberkfell and Eric A. Hardmeyer were elected chairman and vice chairman of the FHLB Des Moines Board of Directors.

Dale Oberkfell has served in a variety of banking positions during his nearly 30 years in the financial services industry, including his current position as executive vice president and CFO for Midwest BankCentre in St. Louis, Missouri. He also served as executive vice president and CFO of Reliance Bancshares, Inc. in Des Peres, Missouri, and as an executive officer of Reliance Bank, FSB in Fort Myers, Florida.

Eric A. Hardmeyer joined the Bank of North Dakota in 1985 as a loan officer and served as senior vice president of lending before becoming president and CEO in 2001. Mr. Hardmeyer is the past chairman of the North Dakota Bankers Association.

For a full listing of our 2012 Board of Directors, visit our Board of Directors directory.

Beneficiaries of grant-funded projects will include a wide variety of people, including families with children, seniors, persons with disabilities, at-risk youth, people in need of services and people who are homeless. These projects will create brand new homes, rehab existing units and bring quality housing to both urban and rural communities.

Benefits of AHP extend even further than the creation of homes for low-income families. The program ensures affordable housing for generations to come and, because projects often utilize local businesses and contractors to complete the work, it creates jobs and stimulates economic growth.

“The Affordable Housing Program allows local financial institutions and non-profit organizations to work together to create the solutions right for their communities,” said Dick Swanson, president and CEO, FHLB Des Moines. “These funds come from Bank earnings - not taxpayer dollars - and are usually paired with federal and local dollars, often serving as the final piece of funding for the completion of a community housing project.”

The Bank commits 10 percent of its annual net income each year to the development of affordable housing. Since the creation of AHP in 1990, FHLB Des Moines has distributed more than $200 million in competitive grants to create nearly 41,000 housing units.

For a complete listing of 2012 AHP grant recipients, please visit the Bank’s website. For more information, contact the Bank’s Community Investment Department by calling 800.544.3452, ext. 1173.

Register for November Member Relations Teleconference Call

FHLB Des Moines will host a members-only teleconference call on Friday, November 16, 2012 from 2:00 PM until 3:00 PM (Central Time). There is no charge for the call, and it is open to all FHLB Des Moines members. Topics will include:

• Third Quarter 2012 financial highlights
• FHLBank System information
• FHLB Des Moines business news update

Management discussion will be brief allowing 20-30 minutes for questions and answers. Members are encouraged to provide questions during the conference call. Questions can also be emailed in advance to Megan Feld or submitted during registration.

If you have any questions regarding the member relations teleconference call, please contact Megan Feld at 515.281.1159.

Last Days to Cast Ballot for Director Elections

All ballots for the 2012 Board of Director Elections must be received by the end of day on Thursday, November 1st. For more information, please read the latest announcement sent to members on September 20, 2012.
 

“The Rural Homeownership Fund is one of many ways FHLB Des Moines works with local lenders to help them meet the needs of their communities,” said Gary Dodge, VP/director, community investment, FHLB Des Moines. “Through the grants, these lenders are able to bring stability to the lives of the recipient families and individuals, as well as to their neighborhoods, towns and communities.”

FHLB Des Moines members are eligible to receive up to $15,000 in RHF grants. Since the creation of RHF in 1996, over 6,100 grants totaling more than $23 million have been awarded in support of rural housing activity in the Bank’s five-state district.

For more information about the RHF, please visit the Bank’s website at www.fhlbdm.com or contact Evelyn Bengtson by calling 800.544.3452, ext. 1064 or emailing ebengtson@fhlbdm.com.

“Similar to credit unions, all 12 Banks are cooperatively owned by their members,” said FHLB Des Moines President Dick Swanson. “Our unique model and mission have proven viable in even the worst economic times. We are excited to offer all of our credit union members, and other lenders across our five-state district, FHLB Des Moines services and products.”

The difficult financial environment of the last few years has highlighted the need for a safe and secure funding source, and member institutions have increasingly turned to FHLBanks. In the past five years, more than 40 credit unions have become members of FHLB Des Moines.

In addition to the ability to provide funding, all FHLBanks are SEC registered and have a defined district, eliminating the need for excessive risk taking and restricting competition between them. The persistently troubled financial environment of the last few years has highlighted the need for a safe and secure funding source, and member institutions have increasingly turned to FHLBanks. In the past five years, more than 40 credit unions have become members of FHLB Des Moines.

“It is exciting for us to be the 100th credit union to join the membership of the Federal Home Loan Bank of Des Moines,” said Dakota Plains President Michael Reisnour. “But we are even more excited about simply being a member. We view the relationship as a necessity for growing our credit union and the services FHLB Des Moines offers meets those needs.”

The program provides eligible households with up to $5,000 in response to community housing and economic challenges.

“Homeownership provides the financial and physical security that makes it possible for individuals to become engaged and active members of their communities,” said Gary Dodge, vice president and director, Community Investment, FHLB Des Moines. “Especially at a time when many are struggling, we are glad to be able to help first-time homeowners secure this building block for strong families, neighborhoods and communities,”

Since its inception, the UFT program has awarded 2,016 grants totaling $6.18 million dollars to support a wide range of housing activities. Households at or below 80 percent of the area median income that are purchasing an owner-occupied unit in an urban community can use the funds for a down payment, closing costs, counseling or rehabilitation assistance.

For more information about FHLB Des Moines Urban First-time Homebuyer Fund, please contact Evelyn Bengtson at 800.544.3452, ext. 1064 or visit the Bank’s website at www.fhlbdm.com.
 

Other News

August Member Relations Conference Call
FHLB Des Moines will host a members-only teleconference call on Friday, August 17, 2012 from 2:00 PM until 3:00 PM (Central Time). There is no charge for the call, and it is open to all FHLB Des Moines members. Read the announcement. 

Reminder: Director Election Nomination Deadline – August 1st
The nomination period to submit member director nomination certificates and independent director application forms will close on August 1, 2012. Read the announcement.

The announcement was made during a ceremony to kick-off the journey and celebrate the home being built in partnership with Habitat for Humanity-Winona Fillmore Counties for the Yang family.

FHLB Des Moines and Habitat for Humanity share a common goal of supporting affordable housing. Since 1990, over $5.0 million in grants have been committed to Habitat for Humanity affiliates through the Affordable Housing Program and employees have spent hundreds of hours volunteering in Des Moines and Cedar Rapids, Iowa. This new initiative sets into motion dedicated volunteer time and financial resources for homes in all five states the Bank serves. “Partnerships like these allow FHLB Des Moines to be involved as a neighbor in communities our members serve,” said Dick Swanson, president and CEO, FHLB Des Moines. “It’s important that the Bank invests in these homes across our district to make neighborhoods healthier, stronger and more sustainable.”

The Bank has donated $75,000 to build the Yang home – a contribution that would not be possible without the ongoing support and partnership of its members. During the ceremony, Merchants Bank and Winona National Bank were both in attendance to celebrate the initiative and support the construction of the home. Employees from both institutions will volunteer their time throughout the week.

This week of building and hard work will ultimately result in the completion of a brand new, three-bedroom home for Khoua and Lee Yang and their two children. It is the 46th home that Habitat for Humanity-Winona Fillmore Counties has built. “When we combine the efforts of many passionate people, we truly make a difference,” said Nancy Iglesias, executive director, Habitat for Humanity-Winona Fillmore Counties. “FHLB Des Moines and their members will leave a lasting mark on Winona and this program provides hope for people throughout the Midwest.”

If you are interested in learning more about the FHLB Des Moines Habitat for Humanity initiative, please contact Dan Clute, senior vice president, FHLB Des Moines by calling 515.281.1006 or emailing dclute@fhlbdm.com.

The organization reached the $4.0 million dollar mark after they were awarded $498,000 through the most recent grant round. The Senator was on hand to present HAPI and Dacotah Bank with the check.

“These funds will help South Dakota families rehabilitate their homes, to make sure they can raise their children in safe and healthy environments. Homes Are Possible Inc., Dacotah Bank and FHLB Des Moines deserve a lot of credit for their generosity and hard work over the past decade. Rehabilitating houses helps increase property value for homeowners, improves neighborhoods, and boosts local economies. This partnership has already benefited 900 South Dakotans and I am confident it will continue its great work well into the future,” said Senator Johnson.

The project will provide up to $6,000 in rehabilitation assistance to 83 families in the state. Many of the homes are over 50 years old and are in need of improvements to ensure they are still safe and affordable. These improvements are crucial in promoting community sustainability, maintaining property values and preserving housing stock for existing and future generations.

“Homes Are Possible Inc. has succeeded in its mission, in large, because of alliances made in its early years. The Federal Home Loan of Des Moines was an early and incredibly important ally in those formative years and continues to be today. HAPI’s first successful FHLB grant application provided the founding group with both the energy and the resources needed to bring ideas to reality,” said Rod Fouberg, chairman of the board for Dacotah Banks, Inc.

The Homes Are Possible, Inc. and Dacotah Bank project was one of eight receiving funds as part of the FHLB Des Moines AHP grant round. In total, South Dakota projects received $2.9 million which officially put the state over the $20 million mark. These are private, non-taxpayer funded grants that come from the Bank’s earnings. Since 1990, over 4,000 homes have been created and $179.8 million in development costs have invigorated local South Dakota economies as construction and rehabilitation work is done.

A true community effort has made the construction of the opportunity center possible. During the event, CISS Executive Director, Tony Timm, spoke about the impact this project will have on Central Iowa. “This economy has wreaked havoc on some of the most vulnerable in our community. The project is an example of public-private partnerships working together to keep individuals safe and to breathe life back into households struggling to rebound from the housing crisis and job loss.”

Congressman Leonard Boswell was on hand to award the $500,000 grant. “With today’s uncertainties, many families find themselves falling on tough times. CISS provides for people in those situations. A roof over their heads, a warm meal, access to health programs – a jumpstart to getting people back on their feet,” Boswell said. “Today would not be possible without everyone’s generosity and all of us realizing the importance of caring for those in our community who are less fortunate.”

Central Iowa Shelter & Services has offered shelter and supportive services to homeless adults since 1992. Over the last 20 years, the organization has served 20,000 people. The current facility provides a warm bed for 116 people from 4:00 PM – 8:00 AM and is operating at capacity. Upon completion of the new facility, CISS will operate as a 24-hour center and will no longer have to be closed during the day. In addition to expanded capacity, CISS will have a supportive services wing that includes an education area, food pantry, clothing closet and clinic. CISS is the only emergency sheltering program in central Iowa that provides comprehensive services to homeless adults, housing for women without children and shelter without fees.

Each year, FHLB Des Moines returns 10 percent of its net income to communities throughout its district through the Affordable Housing Program. These grants assist in the development of affordable owner-occupied and rental housing for very low-to-moderate income households. During its recent AHP round, the Bank awarded $15 million in grants through its member institutions including, Freedom Financial, to fund 45 housing projects, which will help create or renovate 1,800 housing units across five states. Over $2.0 million was committed to projects in Iowa. For a complete listing of AHP grant recipients, please visit www.fhlbdm.com.
 

Dan has been chief operating officer at BSI since 2003 and is responsible for ensuring that development and fiscal operations of BSI continue to meet the needs of the affordable housing market. BSI has created 249 affordable units with more than 175 in progress and a total investment to date of over $41 million. In 2011, Dan helped BSI obtain the Innovation Award from North Dakota Association of Nonprofit Organizations. This award is given to a nonprofit organization that has demonstrated leadership in developing innovative partnerships that solve problems, build community and/or enhance quality of life.

“The commitment from the BankCherokee, Bremer Bank, Community Neighborhood Housing Services, and South Metro Human Services represents a beneficial, generous commitment from the financial and nonprofit sectors,” said Congresswoman McCollum. “Such investments will not only benefit struggling Minnesotans in the short-term, but these grants will also strengthen and improve our community in the long-term.”

Community Neighborhood Housing Services and BankCherokee will use $159,000 in grant funds to rehabilitate 30 homes, making them safer and more energy efficient for families that otherwise may not have been able to afford the work required to make them safe and livable. “Between declining family incomes, the foreclosure crisis and aging housing stock, there is a growing need for a project like this in St. Paul,” said Jason Peterson, executive director, Community Neighborhood Housing Services. “The grant provides an incredible incentive for homeowners to complete needed maintenance work on their homes.” Community Neighborhood Housing Services provides a number of loan products to eligible homeowners and, under this program, the AHP grant funds will be combined with other funding sources to provide eligible homeowners with the necessary funds to rehabilitate their homes. The AHP grant will provide a $5,000 forgivable loan.

South Metro Human Services and Bremer Bank will use a $300,000 AHP grant to partially fund the transformation of a vacant building into a purpose-built residential treatment facility, which will provide 16 units of transitional housing for adults diagnosed with mental illness. Residents will receive an array of mental health services that will assist them with stabilization, recovery and transition into a more permanent living situation. "We are excited to create a new Intensive Residential Treatment Services building for the people we serve and believe it will be one of the best in Minnesota," states South Metro Human Services President Tom Paul. "This new home for our Community Foundations program will allow our staff to offer critical services in an environment specifically designed for therapeutic treatment and recovery."

Each year, FHLB Des Moines returns 10 percent of its net income to communities throughout its district through the Affordable Housing Program. These grants assist in the development of affordable owner-occupied and rental housing for very low-to-moderate income households. During its recent AHP round, the Bank awarded $15 million in grants through its member institutions including, Bremer Bank and BankCherokee, to fund 45 housing projects, which will help create or renovate 1,800 housing units across five states. Over $4.0 million was committed to projects in Minnesota. For a complete listing of AHP grant recipients, please visit www.fhlbdm.com.

“This economy has wreaked havoc on some of the most vulnerable in our community, including a growing number of children,” said Congressman Emanuel Cleaver, II. “This is an example of public-private partnerships working together to keep families safe and to breathe life back into neighborhoods struggling to rebound from the housing crisis and job loss.”

The large number of foreclosed properties in Kansas City has had negative effects on neighborhoods and home values across the city. It is estimated that 12,000 homes are available for sale and many of these properties have been vacant for up to two years. Neighborhood Housing Services of Kansas City, Inc. and U.S. Bank will use $283,000 in grant funds to rehabilitate those homes, making them available to low- to moderate-income families that otherwise may not have been able to afford the home and the work needed to be done to make it safe and livable. “This project is crucial in promoting community sustainability, maintaining property values and preserving housing stock for existing and future generations,” said Mark Stalsworth, president and CEO, Neighborhood Housing Services of Kansas City, Inc.  

A $457,000 grant will be awarded to City Union Mission, Inc. and CommunityAmerica Credit Union to make improvements to the Family Center. This project is necessary to maintain 48 units of homeless housing on the Family Center campus. The current buildings are in need of maintenance work including re-roofing and restoring exterior walls. Without this grant, City Union Mission, Inc. may not be able to provide shelter to residents, adding to an ever increasing homeless population. “The AHP grant will complete the funding for this project and enable City Union Mission to continue providing a warm place to stay for individuals and children,” said Dan Doty, executive director, City Union Mission, Inc.

Each year, FHLB Des Moines returns 10 percent of its net income to communities throughout its district through the Affordable Housing Program. These grants assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households. During its recent AHP round, the Bank awarded $15 million in grants through its member institutions including, CommunityAmerica Credit Union and U.S. Bank, to fund 45 housing projects, which will help create or renovate 1,800 housing units across five states. Over $5 million was committed to projects in Missouri. For a complete listing of AHP grant recipients, please visit www.fhlbdm.com.

Despite enduring times of economic uncertainty, the following organizations have come together to reduce the impact of foreclosures, decrease homelessness and strengthen neighborhoods throughout the city. As part of these efforts, FHLB Des Moines has awarded $1.2 million in grants to help create or preserve 129 affordable housing units. During the 22-year history of the Affordable Housing Program, FHLB Des Moines and the four project sponsors have used $10.5 million in grants, providing places to call home for thousands of people. Over $131 million has been injected into the local economies through the development of the projects.

Home Rehabilitation

Nearly $500,000 will be targeted towards making necessary improvements to homes both in Minneapolis and across the state.

Habitat for Humanity’s, A Brush with Kindness, and Bremer Bank will receive $100,000 to rehabilitate 17 homes. The program was created to help preserve homeownership by partnering with current homeowners struggling to rehabilitate or maintain a safe place to live. “When basic expenses exceed income month after month, home maintenance is often no longer an option for many families,” commented Jan Plimpton, executive director, Habitat for Humanity of Minnesota. “The funds will help preserve homeownership in our neighborhoods and create safer, healthier homes.”  Similar to other Habitat for Humanity programs, the majority of the work is done by volunteers and the homeowner must complete sweat equity hours. In total, Habitat for Humanity of Minnesota and Bremer Banks have deployed over $5.0 million in AHP grants to build or improve hundreds of homes across the state.

Alliance Housing, Inc. and Franklin National Bank of Minneapolis will use $360,000 to purchase foreclosed properties in north Minneapolis, rehabilitate them and provide permanent supportive housing for homeless families. The foreclosure crisis is hitting parts of North Minneapolis very hard and one population that has been impacted is low-income renters. When a landlord is foreclosed, the tenant is forced to move out. “Given the difficult conditions these families are facing, preserving affordable homes has become more critical than ever,” said Herb Frey, executive director, Alliance Housing, Inc. This is Alliance Housing’s ninth AHP grant. In total the organization has received $1.8 million from FHLB Des Moines. 
 
New Construction

Grants totaling $700,000 will be awarded to construct 100 new, affordable housing units in the city.

CommonBond Communities and U.S. Bank will receive $300,000 to partially fund the creation of Snelling Avenue Apartments, a development providing 60 units of housing for seniors. Currently, there are five affordable senior housing developments in South Minneapolis – all are full, with waiting lists. “Snelling Avenue Apartments addresses an unmet need in the community,” said Paul Fate, president and CEO, CommonBond Communities. “The impact of developing this property will not only provide social benefits, but also substantial and continuous economic benefits. CommonBond Communities has received seven AHP grants totaling $2.1 million.

Project for Pride in Living, Inc. and Wells Fargo Bank will use $400,000 to construct Touchstone Housing and Wellness Center which will create 40 units of supportive housing for individuals with serious and persistent mental illness. “This project will not only house the mentally ill, but will help heal them as well,” said Steve Cramer, president and executive director, Project for Pride in Living, Inc. “A better life will begin with a safe home, but won’t end there. These homes will be springboards for success because they are linked to education, support services, behavior management and life skill training.” Project for Pride in Living has received $1.4 million in AHP grants, including one of the first grants FHLB Des Moines awarded in 1990.

Each year, FHLB Des Moines returns 10 percent of its net income to communities throughout its district through the Affordable Housing Program. These grants assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households. During its recent AHP round, the Bank awarded $15 million in grants through its member institutions including, Bremer Bank, Franklin National Bank, U.S. Bank and Wells Fargo, to fund 45 housing projects, which will help create or renovate 1,800 housing units across five states. Nearly $4.0 million was committed to projects in Minnesota.

For a complete listing of AHP grant recipients, please visit the www.fhlbdm.com.

The index bonds offered through this partnership provides the Iowa Finance Authority with a competitive, long- term funding source without the risks associated with traditional variable rate demand obligations because costs are lower and there are no liquidity or remarketing counterparties involved. Index bonds in other municipal sectors typically have maturities of three to five years; these bonds can be issued up to 30 years which aligns well with the financing terms of many affordable multifamily projects. The interest rate floats at a spread over one month LIBOR and is hedged with an interest rate cap or fixed rate swap. Moody’s Investor Service has rated the program Aa3. 
 

After a 34-year career at The Principal Financial Group® (Principal), Ms. Lamale retired from her position as senior vice president and chief risk officer in March 2001. As an executive with Principal, Ms. Lamale was accountable for actuarial, internal audit and risk consulting, corporate treasury and capital markets. Ms. Lamale began her career as a summer actuarial intern in 1977 and joined the company on a full time basis as an actuarial student.

Ms. Lamale has served on several community boards, including the West Des Moines Youth Soccer Club, Iowa United Soccer Club, Des Moines Symphony Second Strings and Des Moines Public Library Foundation. Currently, she is a volunteer with the Career Closet at the Young Women's Resource Center and with the West Des Moines Youth Justice Initiative.

The FHLB Des Moines board of directors is comprised of financial service, business and community leaders from across the Bank’s five-state district of Iowa, Minnesota, Missouri, North Dakota and South Dakota. The board is made up of 16 directors: nine member directors and seven independent directors.
 

Ms. Keegan has over 25 years of financial management experience, including 18 years in financial institutions primarily in the chief financial officer role. She joined Fidelity Bank in 2002 and is responsible for the areas of Finance, Operations, Human Resources, Audit and Compliance.

In 2006, Finance and Commerce honored Ms. Keegan with the top Women in Finance award for significant leadership in the financial services community. She was recognized for her work in launching a de novo financial institution prior to joining Fidelity Bank, for stepping into Fidelity Bank during a time of challenge and managing the bank’s volatile balance sheet and liquidity needs and for her work in enhancing employee development and retention.
 
Ms. Keegan is currently active in several peer groups, has served on the board of the Minnesota Bankers Association Insurance and Services, Inc. and previously chaired the Minnesota Bankers Association Operations and Technology Committee.

The FHLB Des Moines board of directors is comprised of financial service, business and community leaders from across the Bank’s five-state district of Iowa, Minnesota, Missouri, North Dakota and South Dakota. The board is made up of 16 directors: nine member directors and seven independent directors.
 

“We are excited about the opportunity to further strengthen our partnership with the Federal Home Loan Bank of Des Moines,” commented NFC Executive Director Holly Olson. “In the past, NFC has received funding through FHLB Des Moines competitive grant program. As a Bank member, we now have access to a flexible source of funds to help us provide innovative financing in our lending area.”

In January 2010, the Federal Housing Finance Agency implemented provisions to the Housing and Economic Recovery Act of 2008 (HERA) that permitted qualifying CDFIs to become members of the Federal Home Loan Bank System. CDFIs are private nonprofit financial institutions that provide financial services to advance economic development and community revitalization in underserved markets. Newly eligible institutions include privately insured, state-chartered credit unions, community development loan funds and venture capital funds that are certified by the CDFI Fund of the U.S. Department of the Treasury. The U.S. Department of the Treasury certified NFC as a CDFI in 2000.

“The Federal Home Loan Bank of Des Moines is pleased to welcome Neighborhood Finance Corporation as our first CDFI member,” said Dick Swanson, president and chief executive officer, FHLB Des Moines. “We look forward to working with NFC to explore how our products and services can provide them with funding for projects that support affordable housing and community investment.”
 

Clute most recently worked as vice president/treasurer at Wells Fargo Financial, Inc. Prior to that, he worked at Citigroup in Des Moines as vice president/state director of Public Affairs. His other Citigroup experience includes serving as the chief financial and administrative officer of the Citi Cards Operations Center in West Des Moines. 

Clute is active in the community and currently is president of the Habitat for Humanity of Iowa, Inc. board of directors. He served in the Iowa House of Representatives and on the Clive City Council. Clute received his bachelor’s and master’s of business administration degrees from the University of Iowa.
 

Ice cream lovers can indulge their taste buds and learn more about what Genesis Development is doing to improve quality of life for people with disabilities. The organization offers a variety of services to individuals across Iowa. Right here in Indianola, Genesis Development provides:

• Supported community living and group living experiences
• Employment opportunities through a commercial laundry service
• Transition services
• A Discovery Program to allow individuals to interact and integrate through planned activities

"Our goal with holding this event is to make people aware of Genesis Development and their commitment to our community and the disabled population. The ice cream treats are free, but guests can make a donation to the organization -- though it is not required", said Carol Seeger, marketing officer, Peoples Bank.

If you are interested in learning more about Genesis Development and want to cool off with some ice cream, make sure to stop by Peoples Bank on Friday June 24. For more information about the event, please contact Wayne VanderTuig, executive vice president, by calling 515.962.2111.
 

In recent years, the aging building has become difficult to maintain. Realizing the importance of this property to the community, Colony Housing Authority, in partnership with American State Bank, applied for a $180,000 Federal Home Loan Bank of Des Moines Affordable Housing Program grant to begin rehabilitating the property.

The AHP grant will allow Crown Colony Housing to begin making the capital improvements necessary to meet the needs of the residents and prevent further deterioration of the complex including replacing doors and windows with more energy efficient products.

“This project will create safer, more resourceful homes as well as stimulate the local economy. We are looking to work with local contractors who will purchase many of their supplies from businesses within our community. The grant’s impact will be seen beyond just the rehabilitation of the property” said Ron Gibson, president, American State Bank.

According to Devy Combs, director, Crown Colony Housing, the grant will eliminate the need to borrow money to make improvements. An Affordable Housing Program grant ensures that major improvements are made while rents remain fairly constant. “It is important in our small community to offer this type of housing so people can remain near their social network and maintain their independent living.”

The Affordable Housing Program is unique in that it’s adaptable to many different communities and many different projects. Members like American State Bank may recognize a pressing need and use the program to create solutions. The state of Iowa has received $34.8 million in grants since the inception of the program to create 8,791 homes.

For more information about the rehabilitation of Crown Colony Housing, please contact Devy Combs by calling 641.784.7777.

“It was such a pleasure and rewarding experience working with Teresa and Karen on this project,” says Tammie Goodson, vice president at First Missouri State Bank, “They worked extremely hard and put in a lot of extra time to obtain this grant in addition to the many hours they already donate to this worthwhile organization.  We are so proud of their success and happy to be a part of this gratifying experience.”

The long term goal of Mending Hearts Recovery is to change and improve the lives of the women who are reintegrating from prison back into society. Without this property, residents could return to the same unhealthy environments they were in before incarceration. By offering safe housing, job placement, recovery mentoring, substance abuse counseling and life skill training, Mending Hearts Recovery creates independent, self-sufficient women that contribute to their community.

The Affordable Housing Program is unique in that it’s adaptable to many different communities and many different projects. Members like First Missouri State Bank may recognize a pressing need and use the program to create solutions. During the 2010 competitive round, $5.2 million was awarded to the state of Missouri, funding 16 projects across the state.

For more information about the rehabilitation of Mending Hearts Recovery, please contact Karen Daugherty, executive director or Teresa Welch, project director at 573-332-7901.

First Missouri State Bank of Cape County is one of two locally chartered banks in Cape Girardeau County.  They have assets in excess of $105 million and have 28 employees.  They currently have locations at 2 South Mount Auburn Road in Cape Girardeau, 1846 East Jackson Boulevard in Jackson and inside the Chateau Girardeau Retirement Community located at 3120 Independence Street in Cape Girardeau.  First Missouri State Bank provides consumer, commercial, construction and residential loans as well as traditional depository services.  For more information about First Missouri State Bank of Cape County, call 573-334-9000 or 573-243-9000 or visit their website at www.wherefirstmeansmore.com.

To learn more about the FHLB Des Moines Affordable Housing Program visit www.fhlbdm.com or call the Community Investment Department 1.800.544.3452, ext. 1173.
 

“Our goal with this program is to improve the availability of high quality, affordable housing,” said Douglas Elliott, executive director, East Central Iowa Council of Governments. The funds will be used to create safer and healthier homes by replacing roofs, repairing gutters, installing windows and updating electrical and plumbing systems.

ECICOG is urging all residents, especially elderly and disabled residents who need home repairs to apply. These grants are available in areas defined as rural by the U.S. Department of Agriculture (USDA). This would exclude those living within the following cities such as Cedar Rapids, Marion, Hiawatha, and Robins in Linn County. Also, not included would be Iowa City, Coralville, and University Heights in Johnson County from qualifying for this program.

The following counties have funding available. Homeowners are encouraged to apply. Applications are available at your City Hall, one of the banks listed below, your County Board of Supervisors or ECICOG.

Iowa County

Ten families and individuals will be eligible for up to $5,000 to make home repairs through a $58,000 AHP grant awarded to Keystone Savings Bank and ECICOG.

Johnson County

Twenty families and individuals will be eligible for up to $5,000 to make home repairs through a $116,000 AHP grant awarded to Hills Bank and Trust Company and ECICOG.

Jones County

Ten families and individuals will be eligible for up to $5,000 to make home repairs through a $58,000 AHP grant awarded to Citizens State Bank and ECICOG.

Linn County

Twenty-five families and individuals will be eligible for up to $5,000 to make home repairs through a $58,000 AHP grant awarded to Guaranty Bank and Trust Company and ECICOG.

Washington County

Ten families and individuals will be eligible for up to $5,000 to make home repairs through a $58,000 AHP grant awarded to Federation Bank and ECICOG.

FHLB Des Moines awarded $3.2 million to 16 projects in the state of Iowa in 2010. The grants are flexible and used to meet unique community needs. To learn more about the FHLB Des Moines Affordable Housing Program visit www.fhlbdm.com or call the Community Investment Department 1.800.544.3452, ext. 1173.

Contact Diana Stromer at ECICOG with questions about the home repair program by calling 319.365.9941, ext 123.

In recent years, the building has begun to deteriorate. Realizing the importance of this property to the senior population in the community, Freedom Security Bank, in partnership with Riverside Elderly Development Corporation, applied for a $110,000 Federal Home Loan Bank of Des Moines Affordable Housing Program (AHP) grant to begin rehabilitating the property.

“Riverside Senior Village is extremely important to the Riverside community,” said Douglas Yotty, market president, Freedom Security Bank. “Not only will this improve the lives of residents, but also serves as an economic shot to the arm as we look to partner with local developers and contractors to finish the project.”

The AHP grant will allow Riverside Senior Village to begin making the capital improvements necessary to meet the needs of the residents and prevent further deterioration of the complex including installing maintenance free siding and windows. This phase is scheduled to begin in May. Future plans include replacing walk-ways and roofs and remodeling four apartments.

According to Don Yoder, manager, Riverside Elderly Development Corporation, the grant will eliminate the need to borrow money to make improvements. In many cases, residents have an average income of less than $10,000. An Affordable Housing Program grant ensures that major improvements are made while rents remain fairly constant.

“Maintaining rural housing is an important part of our mission,” said Gary Dodge, vice president and director, FHLB Des Moines Community Investment Department. “The Bank works with member financial institutions like Freedom Security Bank to provide grants for community homeownership and rental projects. In 2010, $3.2 million was awarded to 16 projects in the state of Iowa.”

To learn more about the FHLB Des Moines Affordable Housing Program visit www.fhlbdm.com or call the Community Investment Department 1.800.544.3452, ext. 1173.

“This grant will transform families and help to revitalize a neighborhood that has seen numerous problems. We hope these efforts will work to reduce the crime and blight that been so prevalent and will make this a better area for everyone,” said Richard Bagy, president and COO, First National Bank of St. Louis. First National Bank of St. Louis received a $300,000 grant to provide home repairs to 20 homeowners in the community of Hillsdale.

“We are hoping hardworking families will be able to overcome challenges and prosper in their community,” said Ron Barnes, chairman, Midwest BankCentre. Midwest BankCentre received a $200,000 grant to provide home repairs to 15 homeowners in the community of Pine Lawn.

This is yet another improvement to an area that has previously seen little community development activity. The projects will allow low-income families to make much needed repairs to their homes including replacing the roof, upgrading electrical and plumbing systems and improving the structural components of the unit. Not only are homes repaired and lives improved, but the project eliminates blighting influences within the neighborhoods, maintains the population at a time when inner-ring suburbs are experiencing a decline and increases confidence in the community.

Both Hillsdale and Pine Lawn are part of Beyond Housing, Inc.’s "24:1" initiative. The projects will further the organization’s goal to improve each of the 24 communities that compromise the Normandy School District.

Each year, FHLB Des Moines sets aside 10 percent of its net income for grants to member financial institutions and their community-based partners to support a wide range of affordable housing projects. The program is used for acquisition, rehabilitation and new construction. Since the inception of the program in 1990, FHLB Des Moines has awarded nearly $42 million in affordable housing grants to Missouri, supporting 9,394 homes. In total, FHLB Des Moines has awarded $190 million to create 36,500 homes throughout its five state district of Iowa, Minnesota, Missouri, North Dakota and South Dakota. For more information, visit the Bank’s website.
 

To be able to better serve those local businesses and families, Federal Home Loan Bank of Des Moines recently held an invitation-only focus group made up of a cross section of members, community leaders and end users to determine ways to enhance the Bank’s capacity to meet economic development credit needs.

“This forum was a unique opportunity to provide direct input on our rural community needs”, said Rita Frahm, Heritage Bank.  Representatives from across the Midwestern states were present to provide innovative insights on future modes of collaboration and assistance.

The focus group was initiated by the Federal Housing Finance Agency (FHFA) which regulates the Home Loan Bank system. The FHFA Office of Housing and Community Investment has been conducting sessions in partnership with five other Home Loan Banks including Atlanta, Boston, Dallas, Pittsburgh and San Francisco.

The FHFA Office of Housing and Community Investment will be using feedback received from each of the meetings to draft an updated regulation that will allow the Home Loan Banks to be responsive to specific and current community and economic development investment strategies and priorities.

“The Home Loan Banks are one of the things that are working and working well,” said Curt Heidt, community investment officer, FHLB Des Moines. “We want to play a role in creating the next generation of financial structures and it’s important to include the people that will be affected by those decisions.”

The Federal Home Loan Bank of Des Moines provides stable, low-cost funding to financial institutions for mortgage loans, small business, agricultural and economic development lending. The Bank does not provide loans directly to individuals but rather to its more than 1,230 members, like F&M Bank and Trust Company in Hannibal, Missouri.

F&M Bank and Trust Company has been a cornerstone in their community since 1870. As a reliable funding source for residents of Hannibal, F&M has become a leader people trust. Recently, F&M secured a $1.15 million FHLB Des Moines Community Investment Advance to support the rehabilitation of Clemens Field. This unique project restored the 85-year old field to major league standards and staff at the Des Moines Bank took note. A desire to share the story with other financial institutions, congressional delegates and non-profit organizations across the country led FHLB Des Moines to inquire about featuring F&M Bank and Trust Company in its 2009 Affordable Housing Advisory Council (AHAC) Annual Report.

The AHAC Annual Report is published each year to recognize FHLB Des Moines members who create affordable housing and economic opportunities in their communities. It is through these efforts that the goals of the Bank’s community investment programs are achieved.

“FHLB Des Moines plays an important role in the development of local economies across five Midwestern states, but it’s the members, like F&M Bank and Trust Company, who live and work in these communities that do the real work,” said Gary Dodge, vice president and director, Community Investment, FHLB Des Moines.

F&M Bank and Trust Company has been a key partner with the communities it serves. Since 1990, the bank has secured $20,000 in FHLB Des Moines Affordable Housing Program (AHP) grants, $14 million in Community Investment Advances and $303,000 in set-aside program grants. In total, F&M Bank has received $14.3 million in funding from FHLB Des Moines to assist low-to-moderate income homebuyers and create economic opportunities in Missouri communities.

“Our vision at F&M Bank is to build healthy communities through partnerships. Our work with the Federal Home Loan Bank helps us achieve our vision by assisting homebuyers, small business owners and our community with low-cost funding,” said B. Stevens Plowman, president, F&M Bank and Trust Company. “Assisting these individuals and families helps strengthen and revitalize our communities.”

This year marks the 20th Anniversary of FHLB Des Moines Affordable Housing Program. Since the program’s inception, the Bank has helped fund 3,070 affordable housing projects with a total of 36,518 units through the competitive AHP as well as 8,094 units through the set-aside programs. Over $190 million in grants have been used to meet the needs of individuals and families in urban and rural communities throughout the Bank’s five-state district.

In the state of Missouri alone, FHLB Des Moines has awarded over $37 million through AHP to create 8,649 homeownership and rental units and provide $1.82 billion in lower-cost Community Investment Advances.