The Member Impact Fund is a new matching fund program that provides up to $15 million to strengthen communities in targeted areas. The program encourages partnerships between eligible housing organizations and member financial institutions to support affordable housing or community development.
Up to $15,000,000 in Matching Funds were Awarded in 2023
On May 17, 2023, Federal Home Loan Bank of Des Moines (FHLB Des Moines) announced the award details of the 2023 Member Impact Fund. Over 500 applications were submitted from 85 members to support organizations in the four states and three U.S. territories eligible to participate.
FHLB Des Moines is inspired by our members' commitment to local communities and increased the total Member Impact Fund amount from up to $10 million to up to $15 million. Even with this 50 percent increase, grant requests exceeded the amount of total funds available by $2.2 million. To ensure every eligible application received an award, a consistent pro rata formula was applied to both the member's contribution and the FHLB Des Moines match amount.
- Awards were announced on May 17, 2023 - all members who submitted a Member Impact Fund grant application will be notified via email of their award status and grant amount.
- All Member Impact Fund grants were posted to the member's Demand Deposit Account (DDA) on May 23, 2023.
- By June 22, 2023 (30 days from date of funds posting to the member's DDA), the member must provide the full amount of the Member Impact Fund grant and the member's grant to the grantee.
- Grantees must verify receipt of the Member Impact Fund grant and the match from the FHLB Des Moines member by July 21, 2023 (60 days from date of funds posting to the member's DDA).
- Celebrate! We are here to help you share the good news! Connect with our Marketing Communications team at firstname.lastname@example.org to receive press support.
Grantee Verification of Funds Form
Grantees must complete, sign and return the below Verification of Receipt of Grant Funds form to email@example.com by July 21, 2023 (60 days of funds posting to the member's DDA. If you received multiple awards, please complete and submit a form for each individual award.
The application period for the 2023 Member Impact Fund is closed. Applications were accepted through April 14, 2023.
Questions about the Member Impact Fund? Reach out to: firstname.lastname@example.org.