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	Closed	Entire FHLB Des Moines district through Participating Financial Institutions (PFI)	$4 million	September 16, 2024 - September 24, 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	Washington	$9 million	August 26, 2024 - October 11, 2024	Press Release
Habitat for Humanity® Advance Rate Discount	0% rate five-year advance product intended to provide a source of liquidity to members to build the mortgage lending capacity of Habitat for Humanity (Habitat) affiliates and support affordable homeownership in our communities	Closed	All members in FHLB Des Moines district can apply for advance product	$100 million in Habitat Advances	July 2024 - October 22, 2024	Habitat Advance Flyer
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	Closed	Entire FHLB Des Moines district through Participating Financial Institutions (PFI)	$25 million	May - July 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 October 30, 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.