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Grant Funding Available for Minnesota

The Member Impact Fund is a matching grant program that provides funding to strengthen communities in targeted areas. The program encourages partnerships between eligible organizations and member financial institutions to support affordable housing or community development. 

Award

Up to $20 Million in Matching Funds Available

Through the Member Impact Fund, FHLB Des Moines will match up to $3 for every $1 a member contributes to an eligible not-for-profit or government entity. 

Eligibility

Application Period

Application Period

FHLB Des Moines will accept applications for the Member Impact Fund beginning April 7 through May 9, 2025, closing at 4:30PM CST. Only an FHLB Des Moines member financial institution may submit an application. 

how to apply

Disbursement

Award Disbursement

Member Impact Fund awards will be announced on or around May 15, 2025. Match funds will be distributed directly to the member to provide alongside their contribution for their partner organization.

How it Works

Get Started with an Eligible Partner Organization

  1. Identify a not-for-profit organization or government entity (grantee) that your institution would like to provide with a donation.
  2. Grantees must be located in Minnesota.
  3. Members must contribute $1 for every $3 of requested Member Impact Funds; members must contribute at least $2,500 of their own funds. 
    Note: If the amount of application requests received exceeds the amount of available funding, the Bank will typically prorate its Member Impact Fund awards accordingly. In this situation, the member will still be required to donate their full member contribution.
  4. Members are limited to a maximum FHLB Des Moines match of $750,000.
  5. The member’s grant must be a new contribution. FHLB Des Moines will not match a member’s grant made before April 7, 2025.
  6. Member Impact Fund awards must be used to support a grantee's capacity building or working capital. Examples include:
    • Predevelopment assistance 
    • Rehabilitation or expansion of existing facilities
    • Rental or down payment assistance 
    • Hiring and/or training staff
    • Software upgrades and/or installation
    • Strategic planning
  7. Ineligible Uses:
    • A member's foundation, member trade organization's foundations, or similar
    • Political purposes
    • Tuition assistance or educator salaries

Questions about eligibility or use of funds? Refer to the Member Impact Fund User Guide or reach out to: MemberImpactFund@fhlbdm.com.

Submit an Application1

Applications will be accepted April 7 - until 4:30PM CST on May 9, 2025. Applications will only be accepted from members of FHLB Des Moines.

New for 2025, applications will be submitted online through the Bank's Voluntary Program System. Members can access this new system and user administration ahead of the application period.  Please reference the User Guide below for step-by-step instructions on setting up authorized users, submitting applications and disbursing awards. 

Only an FHLB Des Moines member financial institution may submit an application. Access should not be given to grantees. 

At the end of the application period, FHLB Des Moines will review all applications for eligibility. If the amount of application requests received exceeds the amount of available funding, the Bank will typically prorate its Member Impact Fund awards accordingly. In this situation, the member will still be required to donate their full member contribution.

MEMBER IMPACT FUND USER GUIDE VOLUNTARY PROGRAM SYSTEM LOGIN

The Voluntary Program System offers members the ability to:

  • View their total match and remaining match limit for all applications
  • Edit their application until submitted
  • View all applications submitted – preventing duplicates
  • Withdrawal an application request
  • View application status during review, award, funding and verification stages
  • Receive updated notifications and reminders for pending actions

Award Disbursement Process

  1. The Bank will review each application for award eligibility. This review includes, but is not limited to, determining whether the member is in good standing with the Bank such as its financial standing, Community Support review, etc.

  2. Eligible awards announced on or around May 15, 2025 - all members who submit a Member Impact Fund application will be notified of their award status and match amount. 
    Note: If the amount of application requests received exceeds the amount of available funding, the Bank will typically prorate its Member Impact Fund awards accordingly. In this situation, the member will still be required to donate their full member contribution.

  3. Member Impact Fund match amounts are posted to the member's Demand Deposit Account (DDA). 

  4. Member provides the full amount of the Member Impact Fund match and their matching contribution to the grantee within one month of funds posting to their DDA.

  5. Grantees will verify receipt of the Member Impact Fund match and the FHLB Des Moines member contribution within two months of funds posting to the member’s DDA.

  6. Celebrate! FHLB Des Moines wants to help you amplify your announcement! Connect with Public Relations Manager, Rachel Wegmann to coordinate press releases, social media and pitching stories to media outlets. We have several tools available in our press kit linked below. 

Press kit materials

Member Impact Fund FAQ

1At the end of the application period, FHLB Des Moines will review all applications for eligibility. If the total amount requested by eligible applications exceeds the amount available for the Member Impact Fund, FHLB Des Moines may allocate the Member Impact Fund on a prorated basis. Members will be required to donate the full member contribution, which shall be no less than $2,500.