Western State Bank partners with FHLB to award $10,000 to Lake Agassiz Habitat for Humanity
June 9, 2025 – Western State Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that Lake Region Habitat for Humanity will receive a $10,000 grant from the Member Impact Fund. This matching grant program will result in FHLB Des Moines awarding $20 million in funding to support affordable housing and community development in Minnesota.
“Housing brings peace of mind, hope for the future, and a place to belong,” said Matthew Oachs, Market President at Western State Bank. “We’re proud to support Habitat for Humanity’s work and help them build stronger, more stable communities.”
“This grant is more than a financial gift—it’s an investment in hope, stability, and the future of our communities,” said Jim Nelson, Executive Director of Lake Agassiz Habitat for Humanity. “We’re deeply grateful to Western State Bank and FHLB Des Moines for their partnership and commitment to making affordable homeownership possible for families across our region.”
FHLB Des Moines provides funding solutions to more than 1,200 members to support mortgage lending, economic development and affordable housing in the communities they serve. The Member Impact Fund provides FHLB Des Moines members up to $3 for every $1 in matching grant donations to strengthen the ability of not-for-profits or government entities to support the needs of their communities.
“The Member Impact Fund continues to be a powerful resource in supporting our members as they expand access to affordable housing and drive community development,” says Kris Williams, president and CEO of FHLB Des Moines. “It’s inspiring to see the partnerships centered around improving local communities in such a variety of ways.”
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.
This member matching grant program is part of FHLB Des Moines’ ongoing mission to offer a variety of funding options through its members.
Since its founding in 2023, the Member Impact Fund has supported affordable housing and community development with nearly $70 million in grants awarded by FHLB Des Moines. Member institutions apply and receive Member Impact Fund matching grants to be distributed to eligible organizations alongside their own grant contribution.
About Federal Home Loan Bank of 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. We work together with over 1,200 member institutions to support affordable housing, economic development and community improvement.
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. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.