Community Development Financial Institutions

Required Agreements and Forms

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 applicant’s residential mortgage lending policy
  • Most recent quarterly filing statement as well as the three most recent year-end statements
  • Copy of CDFI Fund Certificate (If older than three years, also submit a written statement attesting that there have been no material events or occurrences since the date of the certification that would adversely affect your institution’s strategic direction, mission or business operations).
  • Nexus Housing Support letter: Demonstrates how the Applicant's business strategies support the housing mission of FHLB Des Moines.

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)

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 mfs-membership@fhlbdm.com