Federal Home Loan Bank of Des Moines Surpasses $1 Billion in Affordable Housing Program Awards
last updated on Monday, May 5, 2025 in Community News
Each year, the Affordable Housing Advisory Council (Advisory Council) presents a report highlighting the significant impact of the affordable housing and community investment activities facilitated through the member financial institutions of the Federal Home Loan Bank of Des Moines (FHLB Des Moines or the Bank). The report also outlines the Advisory Council's policy and strategic discussions that shaped the year.
Notably, 2024 marked a record year for FHLB Des Moines, awarding $100.3 million through its Competitive Affordable Housing Program (AHP) and $11 million in Down Payment Products. The Bank has now achieved a significant milestone - surpassing $1 billion in total grants awarded since inception of these two programs. Additionally, nearly $68 million in grants were allocated to voluntary initiatives such as the Member Impact Fund, Mortgage Rate Relief and Habitat for Humanity® Advance Rate Discount, providing expanded opportunities for FHLB Des Moines members to invest in the vitality of their communities.
Sean Hubert, Advisory Council chair shares “The achievements of these programs during the past year not only exemplify the strength of FHLB Des Moines but also underscore the vital role the FHLBank System plays in addressing critical needs facing affordable housing.”
Access the 2024 report here
About the Affordable Housing Advisory Council:
The FHLB Des Moines Board of Directors appoints a diverse group of 15 housing leaders with strong working knowledge and experience of housing affordability needs to help create programs for the Bank's Community Investment activities. The Advisory Council represents each of the 13 states in the FHLB Des Moines district as well as provides a voice for Native communities and homeless households.
About FHLB Des Moines:
The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with over 1,200 member financial institutions to support affordable housing, economic development and community improvement. FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.
Media Contact:
Rachel Wegmann
Public Relations Manager
515-412-2357
rwegmann@fhlbdm.com
- Affordable Housing Program
- Home$tart
- Member Impact Fund
- NAHI