Grant program supports affordable housing and community development
Des Moines, Iowa, June 04, 2025 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of Des Moines (FHLB Des Moines) has awarded $20 million to 174 financial institution members to be distributed alongside their own grant contributions to hundreds of eligible not-for-profit and government organizations in Minnesota.
Funding was made possible through the Member Impact Fund, a matching grant program designed to amplify FHLB Des Moines member financial institutions’ donations that provide critical financial support for affordable housing and community development initiatives in targeted areas of the FHLB Des Moines district.
With 798 applications awarded, FHLB Des Moines matched $3 for every $1 contributed by a member institution. These combined grants range from $10,000 to $1,000,000.
Since its launch in 2023, the Member Impact Fund has supported affordable housing and community development with more than $70 million in grants from FHLB Des Moines, resulting in combined grants of over $95 million. Every eligible grant application has been awarded funds.
“The Member Impact Fund enables our members to directly support local organizations who matter to them, creating value and a profound impact in their own communities,” said Kris Williams, president and CEO of FHLB Des Moines. “The commitment of our members to champion their local organizations inspires us all.”
FHLB Des Moines provides funding solutions to more than 1,200 members to support mortgage lending, economic development and affordable housing in the communities they serve. Member Impact Fund awards are given in partnership with FHLB Des Moines member financial institutions to strengthen the ability of not-for-profits or government entities to serve the affordable housing or community development needs of their communities.
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About Federal Home Loan Bank of Des Moines
The Federal Home Loan Bank of Des Moines (FHLB 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.
CONTACT: Rachel Wegmann Federal Home Loan Bank of Des Moines (515) 281-1069 rwegmann@fhlbdm.com
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