Federal Home Loan Bank of Des Moines, Northwest Area Foundation Collaborate to Assist Native American Communities
Representatives from the Federal Home Loan Bank of Des Moines (FHLB Des Moines or the Bank) and the Northwest Area Foundation (the Foundation) gathered on Friday, November 10 to announce a collaboration that will provide lasting benefits to Native American communities across the country.
To launch the initiative, FHLB Des Moines awarded $5 million to the Foundation to fund the work of Native Community Development Financial Institutions (CDFIs).
“Over years of working closely with Native CDFIs, we have come to understand that they are a powerful means by which Native communities are building long-term economic and cultural wealth,” said Kevin Walker, president and chief executive officer, Northwest Area Foundation. “We hope this new collaboration will help Native CDFIs push their groundbreaking work even further and capture the imagination of new investors and new partners.”
As a source of low-cost funding and liquidity to member financial institutions, the Bank’s district, consisting of 13-states and three U.S. Pacific territories, encompasses approximately one-third of the country’s Native population.
“The Federal Home Loan Bank of Des Moines is excited to collaborate with the Northwest Area Foundation to support Native-led strategies that strengthen economic opportunities for Native people,” said Mike Wilson, president and chief executive officer, FHLB Des Moines. “This partnership leverages both of our organizations' long-standing commitments to serving Native areas, and puts capital to work for the benefit of private economies and asset building strategies in Indian Country.”
In addition to celebrating the partnership, Friday’s kick-off event aimed to assess carefully prepared research about opportunities in Indian Country, and stimulate dialogue among Native-led organizations and other stakeholders about creating and strengthening partnerships focused on implementing solutions.
Included on the agenda was a presentation by the Center for Indian Country Development at the Federal Reserve Bank of Minneapolis and the U.S. Treasury’s CDFI Fund, as well as guest speakers and panels featuring other Native CDFI leaders in the community.