Posted On: June 9, 2025 by F & M Community Bank in: #FMcommunityBank
F & M Community Bank partners with Federal Home Loan Bank of Des Moines to award $180,000 to several organizations through the Member Impact Fund
Grant program supports affordable housing and community development
F & M Community Bank in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that the following organizations will receive a $180,000 grant from 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.
- Preston Historical Society
- Rochester Area Foundation
- Channel One
- Chatfield Education Foundation
- Preston Area Community Foundation
- Chatfield Food Shelf
- Chatfield Center for the Arts
F & M Community Bank has been a proud partner of these organizations for years and together, they have been dedicated to improving their community.
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 capacity-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.
