BankWest Partners with FHLB, Awards $35,000 to Armour SD Industrial Development Co
BankWest, in partnership with FHLB Des Moines, is pleased to announce that the Armour South Dakota Industrial Development Company has received $35,000 in grant funding from the Member Impact Fund.
BankWest Partners with FHLB, Awards $35,000 to Armour SD Industrial Development Co
BankWest, in partnership with FHLB Des Moines, is pleased to announce that the Armour South Dakota Industrial Development Company has received $35,000 in grant funding from the Member Impact Fund.
BankWest, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that the Armour South Dakota Industrial Development Company has received $35,000 in grant funding from the Member Impact Fund. This matching grant program will result in BankWest and FHLB Des Moines awarding $700,000 in funding to support affordable housing and community development in South Dakota communities.
“Affordable housing is a critical piece of community development in rural South Dakota,” said Caleb Clements, Branch Manager at BankWest. “Through our partnership with FHLB Des Moines, we’re proud to help bring this opportunity to Armour and support local efforts that strengthen the region.”
BankWest applied for and received matching grant funds for Armour South Dakota Industrial Development Co. to help purchase a Governor's Home to be placed in the Armour community. This affordable housing project will provide housing for a qualifying family with an income of less than $81,760.
“Housing availability plays a major role in our ability to attract and retain a strong workforce,” said Craig Krsnak with the Armour South Dakota Industrial Development Company. “This funding helps us to continue to ensure families have access to quality, affordable housing while supporting continued economic growth in the Armour area.”
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 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 is designed to help our members champion the organizations that make a real difference in their communities,” said Kris Williams, president and CEO of FHLB Des Moines. “By partnering with our members, we’re able to multiply resources and support their vital work as they continue to strengthen opportunities for the people they serve.”
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.
Since its launch in 2023, the Member Impact Fund has provided more than $83 million in grants from FHLB Des Moines, generating over $113 million in combined support for affordable housing and community development. Notably, every eligible application submitted to the program has received funding—reflecting the organization’s strong commitment to partnership and impact.
“Affordable housing is a critical piece of community development in rural South Dakota,” said Caleb Clements, Branch Manager at BankWest. “Through our partnership with FHLB Des Moines, we’re proud to help bring this opportunity to Armour and support local efforts that strengthen the region.”
BankWest applied for and received matching grant funds for Armour South Dakota Industrial Development Co. to help purchase a Governor's Home to be placed in the Armour community. This affordable housing project will provide housing for a qualifying family with an income of less than $81,760.
“Housing availability plays a major role in our ability to attract and retain a strong workforce,” said Craig Krsnak with the Armour South Dakota Industrial Development Company. “This funding helps us to continue to ensure families have access to quality, affordable housing while supporting continued economic growth in the Armour area.”
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 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 is designed to help our members champion the organizations that make a real difference in their communities,” said Kris Williams, president and CEO of FHLB Des Moines. “By partnering with our members, we’re able to multiply resources and support their vital work as they continue to strengthen opportunities for the people they serve.”
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.
Since its launch in 2023, the Member Impact Fund has provided more than $83 million in grants from FHLB Des Moines, generating over $113 million in combined support for affordable housing and community development. Notably, every eligible application submitted to the program has received funding—reflecting the organization’s strong commitment to partnership and impact.