Minnesota Funding Round is Now Closed

The Member Impact Fund is a matching grant program that provides funding to strengthen communities in targeted areas. The program encourages partnerships between eligible organizations and member financial institutions to support affordable housing or community development. 

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Award Disbursement and Verification Process

1. FHLB Des Moines will review each application for award eligibility. This review includes, but is not limited to, determining whether the member is in good standing with the Bank such as its financial standing, Community Support review, etc.

2. Eligible awards will be announced on or around May 27, 2025 . All members who submit a Member Impact Fund application will be notified of their award status and match amount.
   If the amount of application requests received exceeds the amount of available funding, the Bank will typically prorate its Member Impact Fund awards accordingly. In this situation, the member will still be required to donate their full member contribution.

3. On or around May 29, 2025, FHLB Des Moines will deposit the Member Impact Fund matching grant directly into an awarded member institution’s demand deposit account (DDA).

4. No later than June 29, 2025, members must provide the full amount of their contribution and the FHLB Des Moines’ matching funds to the grantee.

5. Grantee Award Verification Process:

   • An email will be sent to the grantee on or around June 19, 2025. The email will include award details and a unique link that the grantee will use to verify receipt of the award. If the link does not work, the grantee should close their browser and open in a new browser.

   • The grantee will enter the total award received (this includes both the FHLB match and member contribution) as well as the date they received the award from the member.

   • Once submitted, the grantee will receive an email noting the submission was received. FHLB Des Moines will review the submission and follow-up as necessary with the member.

   • It is the responsibility of the member to ensure the award verifications are completed by the grantee(s) by July 29, 2025.

6. Celebrate! FHLB Des Moines wants to help you amplify your announcement! Connect with Public Relations Manager, Rachel Wegmann to coordinate press releases, social media and pitching stories to media outlets. We have several tools available in our press kit linked below.

 

Press Kit MaterialsMEMBER IMPACT FUND USER GUIDE

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Member Impact Fund FAQ

• Can I submit multiple Member Impact Fund applications for different grantees?

  Yes. There is no limit to how many applications a member submits.

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• Can a grantee receive multiple Member Impact Fund awards from one or more members?

  Yes. There is no limit to how many awards a grantee may receive.

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• Is there a minimum amount I must contribute to a grantee?

  Yes. There minimum amount a member must contribute is $2,500.

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• Is there a maximum amount the FHLB Des Moines will award to one member?

  Yes. A member cannot receive more than $750,000 in matching grants from FHLB Des Moines across all application requests.

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• How can I partner with FHLB Des Moines to promote my Member Impact Fund award(s)?

  FHLB Des Moines wants to help amplify your promotion of Member Impact Fund awards! This includes, but is not limited to, social media, news releases, website announcements and check presentation events. Connect with our Communications Department at communicationsdepartment@fhlbdm.com to coordinate press releases, social media and pitching stories to media outlets. 

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• How do I access the application?

  All member contacts that would like to submit a Member Impact Fund application(s) must have their eAdvantage Administrator grant them access to the Bank’s Voluntary Program module. If you do not know your organization’s eAdvantage Administrator, please contact MemberServices@fhlbdm.com or call 800.544.3452 ext. 2200.

  Please refer to the User Guide for a step-by-step guide to submitting an application.

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• Is a 3:1 match guaranteed for my application?

  No. The Member Impact Fund is a matching grant program that will offer up to a 3:1 match for applications. If the amount of application requests received exceeds the amount of available funding, the Bank will typically prorate its Member Impact Fund awards accordingly. In this situation, the member will still be required to donate their full member contribution.

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• What factors are considered by the Bank when determining application eligibility?

  The Bank will review each application to ensure:

  • The grantee is an eligible not-for-profit or government entity.
  • The use of funds supports affordable housing or community development and does not meet the criteria for an ineligible use.
  • The member is in good standing with the Bank such as its financial standing, Community Support review, etc.

  Based upon this review, the Bank, at its sole discretion, may approve or reject a Member Impact Fund application.

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