Wyoming Nonprofits Get $4.6M from Local Banks and FHLB Des Moines for Housing and Community Projects
DES MOINES, Iowa – Jul 17, 2023 – The Federal Home Loan Bank of Des Moines (FHLB Des Moines) has partnered with 26 local financial institutions to provide over $4.6 million in grants to numerous nonprofit and government entities in Wyoming. This widespread aid seeks to address the need for affordable housing and community development. Among the beneficiaries are individuals and communities that require job training, down payment assistance, financial literacy education, food bank services, and youth programs, among others.
The full details of the press release are available here: https://www.businesswire.com/news/home/20230717642967/en/
The Member Impact Fund, FHLB Des Moines’ matching grant program, has provided the funds for this statewide initiative. Designed to financially bolster affordable housing and community development projects in targeted areas within the FHLB Des Moines district, the fund matches nearly $3 for every $1 donated by a member institution, making up a total of $15 million. The program welcomes applications from member financial institutions supporting eligible organizations in Hawaii, Idaho, Utah, Wyoming, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands.
Jonah Bank of Wyoming, based in Cheyenne and Casper, has been granted over $600,000 from the Member Impact Fund. They added more than $200,000 of their own money to the grant, helping over 50 nonprofits in their local communities. Kim DeVore, Jonah Bank’s president, and CEO, expresses great satisfaction with the positive impact the bank can make through the Member Impact Fund. “We have always desired to give more to each organization we support, and now, thanks to FHLB Des Moines’ community commitment and generosity, we finally can!”
One recipient of the Member Impact Fund grant from Jonah Bank of Wyoming is Food Bank of Wyoming. As the financial institutions selected the nonprofits for the grants, some nonprofits, including the Food Bank of Wyoming, received grants from multiple members.
Rachel Bailey, Food Bank of Wyoming’s Executive Director, reports that the organization received grants totaling nearly $214,000 from eight local financial institutions across Wyoming, including 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 funds will be used to source, store, and distribute food to communities in Wyoming to assist those facing food insecurity.
Bailey emphasized the significance of local banks and credit unions’ support, saying, “The generosity of these financial institutions demonstrates their care for the people of Wyoming. We are truly grateful to be a part of the 2023 Member Impact Fund from FHLB of Des Moines. It’s been an empowering experience to collaborate with financial institutions across the state that believe in the power of community.”
FHLB Des Moines continuously aims to provide a variety of funding through its members to cater to affordable housing and community development needs. Kris Williams, President and CEO of FHLB Des Moines is thrilled to see the grants from their Member Impact Fund directly and positively influencing the communities where their members promote affordable housing and community development.
With the highest number of awards received in Wyoming, Jonah Bank of Wyoming received 264 grants distributed throughout the state. “We are truly grateful for the generosity of FHLB Des Moines. Their significant donation has had a profound impact on our state and the people and communities we serve,” DeVore said.
More information about the Member Impact Fund can be found at www.fhlbdm.com/products-services/affordable-housing/member-impact-fund.
About FHLB Des Moines:
The Federal Home Loan Bank of Des Moines, a member-owned cooperative, is committed to strengthening communities across its district, which spans 13 states and three U.S. Pacific territories. The bank provides funding solutions and liquidity to over 1,200 financial institutions to support mortgage lending, economic development, and affordable housing in the communities its members serve. It is one of 11 regional banks in the Federal Home Loan Bank System and is entirely owned by its members and operates without taxpayer funding.
About Jonah Bank of Wyoming:
Founded in 2006 by a group of local individuals, Jonah Bank of Wyoming is on a mission to build a better Wyoming by supporting small businesses and their employees. By offering quality banking services where your banker is your neighbor, friend, and partner, the bank maintains strong ties to the communities it serves in Casper and Cheyenne. Through job creation for locals, retaining local capital, and generating revenue for community projects determined by the local communities, the bank remains dedicated to the places it serves.
About Food Bank of Wyoming:
The largest hunger-relief organization in Wyoming, Food Bank of Wyoming provides food and essentials to those facing hunger through its 150 Hunger Relief Partners, 19 Mobile Pantries, and programs for children and older adults across all 23 counties. In the fiscal year of July 1, 2022 – June 30, 2023, the Food Bank distributed over 8.9 million pounds of food, equivalent to 7.2 million meals, reaching 63,000 people. As the Wyoming Distribution Center of Food Bank of the Rockies, it is a proud member of the Feeding America network.