Five of our community foundation partners received generous matching grants totaling $250,000 through a partnership between local financial institutions and the Federal Home Loan Bank of Des Moines (FHLB Des Moines). This funding is part of a broader $20 million initiative aimed at strengthening affordable housing and community development efforts across Minnesota.
The Member Impact Fund is designed to amplify the efforts of local nonprofits and government entities by matching contributions from FHLB Des Moines member institutions. For every $1 donated by a member, FHLB Des Moines contributes up to $3, significantly increasing the reach and impact of local giving.
“SWIF is grateful for the support shown to our affiliate community foundations by these local banks and financial institutions. Our communities thrive when we all work together,” said Southwest Initiative Foundation Community Gift Officer Jeff Vetsch.
Member Impact Fund Grants received by our local partners
- Benson Area Community Foundation
$80,000 to support the endowment fund, in partnership with Lake Central Bank - Bird Island-Olivia Community Foundation
$20,000 to support the endowment fund, in partnership with FM BANK - Cottonwood Area Community Foundation
$100,000 to support Lakeside Park improvements, in partnership with North Star Mutual Insurance Company - Montevideo Area Community Foundation
$10,000 to support the Splash Pad Fund, in partnership with Co-op Credit Union of Montevideo - Pipestone Area Community Foundation
$40,000 to support the Pipestone Senior Center and the Pipestone County Food Shelf, in partnership with First State Bank Southwest.
“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.
Grants are awarded based on the organization’s capacity to address community needs such as job training, financial literacy, food access, youth programs, and affordable housing. Since its launch in 2023, the Member Impact Fund has distributed nearly $70 million in grants to support these vital services.
About the Federal Home Loan Bank of Des Moines
FHLB Des Moines is a member-owned cooperative serving 13 states and three U.S. Pacific territories. With over 1,200 member institutions, the Bank provides funding solutions that support mortgage lending, economic development, and affordable housing. As one of 11 regional banks in the Federal Home Loan Bank System, FHLB Des Moines operates without taxpayer funding and is wholly owned by its members.
