Nearly $15 Million Awarded Through Member Impact Fund to Support Community Development
last updated on Friday, June 2, 2023 in Community News
(DES MOINES, Iowa) – The Federal Home Loan Bank Des Moines (FHLB Des Moines) joined efforts with 85 members to provide nearly $15 million to hundreds of non-profit or government agencies. This new member-matching grant program is designed to offer eligible organizations critical financial support for affordable housing and community development initiatives in targeted areas of the FHLB Des Moines district.
The Member Impact Fund matching program was available to member financial institutions to support eligible organizations located in Hawaii, Idaho, Utah, Wyoming, and the U.S. territories of Guam, American Samoa and the Commonwealth of the Northern Mariana Islands. As a result, FHLB Des Moines is pleased to reach so many organizations:
• Hawaii: 21 awards, 10 members
• Idaho: 89 awards, 22 members
• Utah: 120 awards, 27 members
• Wyoming: 264 awards; 26 members
• U.S territories: $5,000 was awarded to each eligible U.S. territory along with a total of six Member Impact Fund awards in Guam and the Commonwealth of the Northern Mariana Islands
“We created the Member Impact Fund to provide stronger support and funding to targeted communities within our district, and we are thrilled at the response from our members in serving the community development needs of their areas,” said Kris Williams, president and CEO of FHLB Des Moines. “The commitment of members to these organizations will help advance the affordable housing and community development needs in a meaningful way.”
The Member Impact Fund, which is a nearly $3-to-$1 match of member donations, will be used for a variety of purposes such as job training, down payment assistance, strategic planning, financial literacy, food banks, youth programs, and so much more. Grant recipients range widely and include organizations such as Habitat for Humanity, United Way, NeighborWorks, and Boys and Girls Clubs.
FHLB Des Moines provides funding solutions and liquidity to more than 1,200 financial institutions across its district to support mortgage lending, economic development and affordable housing in the communities they serve. The four states and three territories selected for the Member Impact Fund is a purposeful effort to support affordable housing and community development needs within these areas of the FHLB Des Moines district. The Member Impact Fund is part of FHLB Des Moines’ ongoing mission to offer a variety of funding through its members to support community development needs throughout its geographic district.
Julie DeVader | Public Relations Manager
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