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Voluntary Programs

FHLB Des Moines is continuously evaluating and developing innovative voluntary programs to increase its support for underserved and financially vulnerable populations in its district. Voluntary programs generally serve to supplement the Bank’s statutory and regulatory programs and are in place to provide members and community partners with additional funds to support affordable housing and community development.

The Bank’s Board of Directors have set the following guiding principles for voluntary programs:

  • Have a member nexus
  • Promote ease of use for members
  • Position members to drive investment in local needs
  • Provide opportunity for distribution throughout the district
  • Be operationally efficient for members and the Bank

When developing a new voluntary program, the Bank considers a variety of factors, including but not limited to:

  • Needs assessment
  • Legal and regulatory requirements
  • Business and operational requirements
  • Prudential parameters 
  • Success measures

Beginning in 2024, the Bank has committed to allocating an additional 5 percent of its net income above and beyond the 10 percent statutory Affordable Housing Program (AHP) contribution to its voluntary programs.  Outlined below is a listing of the Bank’s voluntary programs. 

Name Description Status District Eligibility Allocated Funds Duration More Information

Mortgage Rate Relief

 Funds available through the Mortgage Partnership Finance® program to provide an approximate 2% interest rate reduction for mortgages with households at or below 80% of area median income Open Entire FHLB Des Moines district through Participating Financial Institutions (PFI) $25 million

May 2024 -

 Press Release

U.S. Territories Funding Support

Direct funding was provided to support the three U.S. territories in the FHLB Des Moines district. These funds were directly deployed to Guam Housing and Urban Renewal Authority, Development Bank of American Samoa and Northern Marianas Housing Corporation

 Closed Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands $20,000 provided to each U.S. territory for a total of $60,000

One-time grant

Funds deployed in February through March 2024

Member Impact Fund

 A $3 to $1 matching grant program that provides additional 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 Closed Grantee organizations located in Hawaii, North Dakota, Montana, Oregon, and the U.S. territories of Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands $20 million

January – March 2024

 Press Release
Maui Disaster Relief Funding In partnership with Hawaii members and related trade associations, direct funding was provided to local organizations in support of communities impacted by the Maui wildfires Closed Hawaii $5 million

One-time grant

Funds deployed in September 2023

 Press Release
U.S. Territories Funding Support Direct funding was provided to support the three U.S. territories in the FHLB Des Moines district. These funds were directly deployed to Guam Economic Development Authority, Development Bank of American Samoa and Karidat Social Services Closed Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands $5,000 provided to each U.S. territory for a total of $15,000

One-time grant

Funds deployed in May 2023
Member Impact Fund

A $3 to $1 matching grant program that provides additional 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

 Closed Grantee organizations located in Hawaii, Idaho, Utah, Wyoming, and the U.S. territories of Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands $15 million March – April 2023 

Press Release

Information as of June 15, 2024 

FHLB Des Moines Impact Report

Our 2023 Impact Report highlights the numerous ways in which FHLB Des Moines fulfills our mission through partnerships with our members and community stakeholders.

News

Severe Storms in Nebraska and Oklahoma (Disasters) Member Announcements Severe Storms in Nebraska and Oklahoma (Disasters) The Division of Federal Home Loan Bank Regulation of the Federal Housing Finance Agency is issuing a Non-Objection Letter to allow vacant AHP-assisted rental units to be leased temporarily to individuals/households, who are displaced due to severe storms (disasters) in Nebraska and Oklahoma. Hawaiian Home Lands Lease Addendum Member Announcements Hawaiian Home Lands Lease Addendum Federal Home Loan Bank of Des Moines is pleased to announce the availability of a lease addendum, which was developed in partnership with the Department of Hawaiian Home Lands. FHLB Des Moines Seeks Appointment for Native, At-Large Advisory Council Position Public Announcements FHLB Des Moines Seeks Appointment for Native, At-Large Advisory Council Position Beginning June 10, 2024, Federal Home Loan Bank of Des Moines is seeking applications to appoint at-large Affordable Housing Advisory Council position that is designated to represent the affordable housing and community lending needs of Native communities. FHLBanks Anticipate $1 Billion in Support for Affordable Housing and Community Development Initiatives in 2024 Public Announcements FHLBanks Anticipate $1 Billion in Support for Affordable Housing and Community Development Initiatives in 2024 The Council of Federal Home Loan Banks announced that the FHLBank System expects to provide approximately $1 billion in support for affordable housing and community development initiatives in 2024.

See all articles regarding news about FHLB Des Moines.