Deposit Accounts

We offer members three ways to deposit funds. Deposit rates can be found here.

Demand Deposit Account (DDA)

The Bank establishes a primary DDA for each member upon membership approval. The majority of transactions with the Bank are processed through the member′s primary DDA, including advance transactions, periodic interest billings, capital stock purchases, redemptions and dividend payments, MPF transactions, the collection of various Bank fees and more. Members may also request to have additional (secondary) DDAs established at the Bank for other purposes.

Daily Time Account

In addition to the primary DDA, the Bank also establishes a Daily Time Account for every member. The Daily Time Account is an overnight deposit account with interest earned and paid to the member on a daily basis. Interest earned on Daily Time Accounts is credited to the member′s primary DDA.

Term Deposits

Members may deposit funds at the Bank for a fixed term at a fixed rate subject to the following terms and conditions:

  • No minimum or maximum amount required
  • Maturities up to and including one year.
  • Interest paid at maturity
  • No withdrawal of funds allowed prior to maturity
  • Eligible to pledge as collateral for advances

Note: Member deposits at FHLB Des Moines are not insured.

Regulation F Limitations on Interbank Liabilities

The purpose of Regulation F is to prevent excessive exposure to any individual correspondent, thus limiting the risk that the failure of a depository institution would pose to insured depository institutions. Federal Home Loan Banks are excluded from the specific terms of Regulation F because the FHLBanks are not insured depository institutions and thus not considered a correspondent for purposes of Regulation F.