MINNWEST BANK PARTNERS WITH FEDERAL HOME LOAN BANK OF DES MOINES TO AWARD NEARLY $1 MILLION TO NONPROFIT ORGANIZATIONS ACROSS
Minnesota through the Member Impact Fund Grant program supports affordable housing and community development Minnwest Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that 50 nonprofit organizations across Minnesota will receive a total of $980,400 in grants through the Member Impact Fund. This matching grant program will result in FHLB Des Moines awarding $20 million in funding to support affordable housing and community development in Minnesota. “Minnwest Bank fosters a culture of volunteerism and altruism across its 34-branch footprint, all part of our purpose of building strong, vibrant communities,” said Ivan Van Essen, President of Minnwest Bank. “We are proud to donate to so many positive organizations to make an impact across the communities we serve.”
Each recipient organization was nominated by local Minnwest Bank staff, with Minnwest Bank submitting a donation and FHLB Des Moines matching the donation 3-fold.
Here are the local area recipients: • Southwest Minnesota Housing Partnership (Slayton): $16,000
• WonderWorld Preschool Inc. (Slayton): $10,000 Local Minnwest Bank branches and employees have been proud volunteers and contributors to the recipient organizations for years. Together, they have been dedicated to improving their community through affordable housing and community development initiatives. 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. The Member Impact Fund provides FHLB Des Moines members up to $3 for every $1 in matching grant donations to strengthen the ability of not-for-profits or government entities to support the needs of their communities.
“The Member Impact Fund continues to be a powerful resource in supporting our members as they expand access to affordable housing and drive community development,” says Kris Williams, president and CEO of FHLB Des Moines. “It’s inspiring to see the partnerships centered around improving local communities in such a variety of ways.”
Recipient organizations were selected based on the needs for grant funding to support capac-ity building or working capital necessary to strengthen their ability to serve affordable housing or community development needs including job training, affordable housing, financial literacy, food banks and youth programs.
This member matching grant program is part of FHLB Des Moines’ ongoing mission to offer a variety of funding options through its members.
Since its founding in 2023, the Member Impact Fund has supported affordable housing and community development with nearly $70 million in grants awarded by FHLB Des Moines. Member institutions apply and receive Member Impact Fund matching grants to be distributed to eligible organizations alongside their own grant contribution.
