MANKATO — A regional member of the Federal Home Loan Bank System recently partnered with local banks to provide grants for three local community initiatives.
The grants are part of a statewide initiative totaling $1 million in grants to 41 organizations.
The Federal Home Loan Bank of 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. Its Member Impact Fund is a matching-grant program that provides funds to eligible Minnesota organizations for strengthening communities in targeted areas of FHLB Des Moines’ district.
Recipient organizations were selected based on the needs for grant funding to support capacity-building or working capital necessary to strengthen their ability to serve affordable housing or community development needs including job training, affordable housing, financial literacy, food banks and youth programs.
• Pioneer Bank collaborated with FHLB Des Moines to award $85,000 to Greater Mankato Area United Way.
The grant will support critical programs in Blue Earth, Le Sueur, Nicollet and Waseca counties and will address essential needs such as health, education and financial stability.
Pioneer Bank is a community bank with locations throughout southern Minnesota including Mankato, North Mankato, St. James, St. Peter, Madelia, Mapleton and Lake Crystal.
• SouthPoint Financial Credit Union Foundation partnered with FHLB Des Moines to award $20,000 each to Life-Work Planning Center and NUMAS Haus.
Life-Work Planning Center’s mission is to empower displaced homemakers and women in transition. Its work spans eight counties and addresses the unique barriers women face in the workforce.
NUMAS Haus provides safe shelter and comprehensive support services to homeless women and children in Brown County.
SouthPoint Financial Credit Union Foundation is a registered 501c3 not-for-profit corporation established in 2017 to promote community giving and scholarship opportunities in the areas served by SouthPoint Financial Credit Union.
• Affinity Plus Foundation partnered with FHLB Des Moines to distribute grants to four Mankato area nonprofits: Partners for Affordable Housing, Committee Against Domestic Abuse, or CADA, Feeding Our Community Partners and Emergency Community Help Organization, known as ECHO Food Shelf. Totaling $70,000, these grants will support community initiatives focused on affordable housing and food security.
The foundation distributes its funding within the area served by the Mankato branch of Affinity Plus Federal Credit Union.