DES MOINES, Iowa–(BUSINESS WIRE)–More than $4.6 million has been awarded to hundreds of nonprofit and government agencies across Wyoming to support affordable housing and community development needs. Individuals and communities will benefit from these grants via job training, down payment assistance, financial literacy, food banks, youth programs and so much more.
This state-wide outreach is available through the Federal Home Loan Bank of Des Moines (FHLB Des Moines), who has partnered with 26 member financial institutions. The Member Impact Fund is a matching grant program designed to offer financial support for affordable housing and community development initiatives in targeted areas of the FHLB Des Moines district. The fund, which totals $15 million, is a nearly $3-to-$1 match of member donations. The program was available to member financial institutions to support eligible organizations located in Hawaii, Idaho, Utah, Wyoming and the U.S. territories of Guam, American Samoa and the Commonwealth of the Northern Mariana Islands.
Jonah Bank of Wyoming, located in Cheyenne and Casper, received more than $600,000 from the Member Impact Fund and added more than $200,000 of their own money to assist more than 50 nonprofits in Cheyenne and Casper communities. Kim DeVore, president and chief executive officer of Jonah Bank of Wyoming, is thrilled with the positive impact they are able to make through the Member Impact Fund. “Our communities are the reason we have grown into the Jonah Bank you see today. Each time we sit down to decide how much we can give to an individual organization; we always wish we could give more. Thanks to the shared community commitment and generosity of FHLB Des Moines, this time we can!”
One of the organizations to receive a Member Impact Fund grant from Jonah Bank of Wyoming is Food Bank of Wyoming. Because the participating financial institutions selected the nonprofit organizations to receive the grants, some nonprofits, such as Food Bank of Wyoming, received grants from multiple members.
According to Executive Director Rachel Bailey, Food Bank of Wyoming received grants from eight local financial institutions across Wyoming totaling nearly $214,000. Those participants include Campco FCU, WyHy FCU, Jonah Bank of Wyoming, Hilltop National Bank, First State Bank, Bank of Jackson Hole, First Interstate Bank and Wyoming Community Bank. The grants will be used to source, store and distribute food to communities in Wyoming to help those experiencing food insecurity.
“The support of our local banks and credit unions is incredibly meaningful to Food Bank of Wyoming,” says Bailey. “The generosity highlights that these financial institutions care about the people of Wyoming. Words cannot express the gratitude we have for the opportunity to partake in the 2023 Member Impact Fund from FHLB of Des Moines. It has been a powerful experience to engage with financial institutions across the state that believe in the power of community.”
The Member Impact Fund is part of FHLB Des Moines’ ongoing mission to offer a variety of funding through its members to support affordable housing and community development needs. Kris Williams, President and CEO of FHLB Des Moines, shares, “We are thrilled to see grants from our Member Impact Fund having a direct, positive impact on the communities in which our members help advance affordable housing and community development needs in a meaningful way.”
Jonah Bank of Wyoming received the largest number of awards in Wyoming. Overall, 264 grants were distributed throughout the state. “The Wyoming members of FHLB Des Moines are grateful to the generosity of FHLB Des Moines,” says DeVore. “Their significant donation makes an amazing impact on our state and the people and communities we serve.”
Learn more about the Member Impact Fund at www.fhlbdm.com/products-services/affordable-housing/member-impact-fund.
About FHLB Des Moines
The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. FHLB Des Moines provides funding solutions and liquidity to more than 1,200 financial institutions across its district to support mortgage lending, economic development and affordable housing in the communities served by its member financial institutions. FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. The Des Moines Bank is wholly owned by its members and receives no taxpayer funding.
About Jonah Bank of Wyoming
Jonah Bank of Wyoming was established in 2006 by a group of folks that live and work in Wyoming and care about Wyoming. Our mission, Building a Better Wyoming, is accomplished through our support of Wyoming small businesses and their employees. We still believe in old fashioned quality banking where your banker is your neighbor, friend and most importantly, your partner in growing your business. We are dedicated to the communities we serve, Casper and Cheyenne, and deliver employment opportunities to local people, keep local capital in our communities, and provide a source of revenue for important community projects determined by the local communities.
About Food Bank of Wyoming
Food Bank of Wyoming is the largest hunger-relief organization in Wyoming and provides food and essentials to people facing hunger through more than 150 Hunger Relief Partners, 19 Mobile Pantries, and programs for children and older adults in all 23 Wyoming counties. In the current fiscal year (July 1, 2022 – June 30, 2023), over 8.9 million pounds of food have been distributed across Wyoming, the equivalent of 7.2 million meals serving 63,000 people. Food Bank of Wyoming, located in Casper, WY, serves as the Wyoming Distribution Center of Food Bank of the Rockies, which is a proud member of the Feeding America network.