Federal Home Loan Bank of Des Moines Awards $48,000 to Community Partnership Projects
last updated on Monday, October 1, 2018 in Community News
The Federal Home Loan Bank of Des Moines (FHLB Des Moines) announced four community projects will receive a total $48,000 as winners and runner-up in the FHLB Des Moines Strong Community Award Program.
The three winning projects and one runner-up were selected by a public vote and are being recognized for their support of economic development and small business needs in their communities. Applicants eligible for the awards came from nominations throughout the 13 state and three U.S. Pacific territories.
“It is an honor for me to recognize these outstanding projects,” said Mike Wilson, president and chief executive officer, FHLB Des Moines. “The winners truly demonstrated a commitment to bettering their communities. We hope these awards will enable them to continue the important work they do.”
Bank of Hawaii, Central Pacific Bank, and Finance Factors were awarded first place in the urban category and will receive a combined $15,000 to further support their housing project, the Kahauiki Village.
Banner Bank was also honored as the top runner-up in the urban category. Their housing and workforce development project, HopeWorks Station II, was awarded $3,000 from FHLB Des Moines.
Ascentra Credit Union and Alaska USA FCU, Credit Union 1, Northern Skies FCU, Tongass FCU, Aloha Pacific FCU, Hawaii USA FCU, Hawaiian Tel FCU, and Kauai Government Employees FCU tied for the top spot in the rural category. Their projects, the Newcomers Initiative and Get REAL Financial Reality Fairs, will receive $15,000 each.
Since its inception five years ago, applications for the Strong Communities Award have continued to grow, with a record number of member financial institutions applying for this year’s awards. A full list of winners and runner-ups and a description of the projects they support are below.
Rural Category Winners
First Place: Ascentra Credit Union (Muscatine, Iowa)
- Launched the Newcomers Initiative, an asset-building initiative to help immigrants and refugees pay for the growing cost of residency, naturalization, and other immigrant-related fees.
First Place: Alaska USA FCU, Credit Union 1, Northern Skies FCU, Tongass FCU, Aloha Pacific FCU, Hawaii USA FCU, Hawaiian Tel FCU, and Kauai Government Employees FCU (Alaska and Hawaii)
- Worked together to create and support “Get REAL Financial Reality Fair” events as a fun, hands-on way for students and young adults to learn about managing personal finances throughout Alaska and Hawaii.
Urban Category Winners
First Place: Bank of Hawaii, Central Pacific Bank, and Finance Factors (Honolulu, Hawaii)
- Supported the Kahauiki Village, a first-of-its-kind community in the United States, which provides long-term, affordable housing for homeless families with children on the island of Oahu.
Runner Up: Banner Bank (Everett, Washington)
- Supported HopeWorks Station II, a project designed to help low-income residents in Snohomish County with affordable housing and workforce development.
For more information on the FHLB Des Moines Strong Communities Award, visit www.fhlbdm.com/award.
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The Federal Home Loan Bank of Des Moines is a member-owned cooperative that provides funding solutions and liquidity to nearly 1,400 financial institutions to support mortgage lending, economic development, and affordable housing in their communities. Serving 13 states and three U.S. Pacific territories, FHLB Des Moines is one of 11 regional banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts, and community development financial institutions. The Des Moines Bank is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com. Follow us on Twitter (@FHLBDM) and visit us on Facebook and LinkedIn.
- Strong Communities Award