Banks and Thrifts

(Banks and Thrifts with assets exceeding CFI cap of $1.461 billion must hold at least 10 percent of its total assets in residential home loans, residential mortgage-backed securities, or other mortgage-related assets)

Required Agreements and Forms

  • Universal Membership Application: (Schedules 1-7 and Appendix 5 are required from all banks and thrifts. Appendix 1 is only required from banks and thrifts with total assets greater than $1.461 billion)
  • Blanket Advances, Pledge and Security Agreement: Required by FHLB Des Moines to make an advance to a member.
  • Master Transaction Agreement: Required to open accounts and conduct business with FHLB Des Moines. Also covers letters of credit, EFT and safekeeping. (This agreement will be provided for electronic signature upon receipt of application).
  • eAdvantage Terms of Use and Conditions Agreement:  Allows access to FHLB Des Moines members-only website for convenient electronic banking.
  • Member Representations and Warranties:  Certifies that the member is aware of the Bank’s Anti-Predatory Lending Policy.

Required Documentation for all applicants

  • Most recent audited financial statements and management letter; or board of director’s examination prepared by certified public accountant
  • Copy of articles of incorporation, bylaws or charter
  • Copy of residential mortgage lending policy

Additional Required Documentation for applicants that have consolidated with another institution within the last three years

  • All regulatory financial reports that the applicant has filed as a consolidated entity
  • Pro forma combined financial statements for those quarters for which actual combined regulatory financial reports are unavailable (most recent six quarters and three calendar year-ends)
  • Home financing policy requirement: A recently consolidated applicant that has not received its first CRA performance evaluation should provide a written justification of how and why the applicant’s home financing credit policy and lending practices will meet the credit needs of its community

Additional Required Documentation for applicants that have ever been a member of the Federal Home Loan Bank System

  • Attach a separate sheet describing withdrawal (i.e. number of years and FHLB Bank institution was affiliated with)

Optional Forms

  • Emergency Source of Funding: Allows you to receive funding from FHLB Pittsburgh if FHLB Des Moines is inoperable due to a disaster.
  • Delivery of Advances Proceeds: Allows member to designate a separate account (either Fed account or correspondent account) to receive automatically (by wire) proceeds up to the amount of the advance, members take down with FHLB Des Moines.

Step 3: Submit
Please send all completed documents to