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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. 

Year Name Description Status District Eligibility Allocated Funds Duration More Information
2025 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 Open Grantees located in Hawaii, Utah, Guam, American Samoa and the Commonwealth of the Northern Mariana Islands $5 million February - March, 2025
2025 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 Open All Members January 2025
2024

Mortgage Rate Relief
Round 2

 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, 2024
2024 Member Impact Fund
Round 2		 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 - October, 2024 Press Release
2024

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 - October, 2024

Habitat Advance Flyer
2024

Mortgage Rate Relief
Round 1

 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
2024

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

February - March, 2024
2024

Member Impact Fund
Round 1

 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
2023 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

September, 2023

 Press Release
2023 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

May, 2023
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 February 3, 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

FHLB Des Moines Announces 2025 Affordable Housing Advisory Council Appointments Public Announcements FHLB Des Moines Announces 2025 Affordable Housing Advisory Council Appointments FHLB Des Moines Announces 2025 Affordable Housing Advisory Council Appointments Sharon Vogel Appointed to FHLB Des Moines Advisory Council Public Announcements Sharon Vogel Appointed to FHLB Des Moines Advisory Council Sharon Vogel Appointed to FHLB Des Moines Advisory Council 2025 Affordable Housing Program Information Now Available Member Announcements 2025 Affordable Housing Program Information Now Available FHLB Des Moines offers a variety of products to support the purchase, construction or rehabilitation of affordable housing. Information detailing the 2025 Affordable Housing Program are now available. FHLB Des Moines Awards $100.3 Million for 55 Affordable Housing Initiatives Public Announcements FHLB Des Moines Awards $100.3 Million for 55 Affordable Housing Initiatives FHLB Des Moines Awards $100.3 Million for 55 Affordable Housing Initiatives

See all articles regarding news about FHLB Des Moines.