ICBSD Member Community Banks Help Direct $8,510,250 to South Dakota Organizations Through FHLB Member Impact Fund
ICBSD member community banks, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), helped direct $8,510,250 in funding to South Dakota nonprofits and community organizations through the FHLB Member Impact Fund.
Of that total, $6,078,750 came from FHLB Des Moines matching grants, bringing outside dollars into South Dakota to support affordable housing, economic development, youth programs, and essential community services.
CorTrust Bank Partners with Federal Home Loan Bank of Des Moines to Award $183,750 to 18 Causes in South Dakota
CorTrust Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that 18 causes in South Dakota will receive grants from the Member Impact Fund, totaling $183,750. This matching grant program will result in FHLB Des Moines awarding over $12.9 million in funding to support affordable housing and community development in Alaska, South Dakota, Guam and the Commonwealth of the Northern Mariana Islands.
“CorTrust Bank is proud to partner with FHLB Des Moines to contribute funds towards causes that are a driving force of positive change in our local communities. We are thrilled to be working with them to ensure affordable housing and community development initiatives in South Dakota continue to thrive,” said Jack Hopkins, President and CEO of CorTrust Bank.
The 18 causes receiving grants include: Abbott House, Artesian Community Improvement Association, Beseda Hall, City of Freeman, Day County Housing Development Corporation, Gayville Volunteer Fire and Rescue Department, Habitat for Humanity of Greater Sioux Falls, Homes are Possible, Inc., Letcher Community Development Foundation, McCrossan Boys Ranch, Mitchell Area Development Corporation, Mount Vernon Economic Development Group, Prairie View Housing, Safe Harbor, Sesdac, Sioux Empire Housing Partnership, St. Francis House, and Yankton Food for Thought.
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.
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 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.
About CorTrust Bank
Since 1930, CorTrust Bank has been serving the needs of individuals and businesses throughout 16 South Dakota communities, and 15 Minnesota communities, with 37 branch locations. What started as a small operation serving the needs of local farming families in Artesian, SD, has today grown into a fourth-generation family-owned community bank with $1.50 billion in assets, and $170 million in equity and reserves. CorTrust Bank—raise your expectations.
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 fhlbdm.com.
Bank Partnership Leads to $700,000 of Charitable Donations in Southeast South Dakota
Sioux Falls, SD: The First National Bank in Sioux Falls (First National Bank), in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), has donated $700,000 across 12 organizations in the Sioux Falls area.
These charitable gifts were made possible by the Member Impact Fund, a matching grant program from FHLB Des Moines that resulted in $13.3 million awarded across South Dakota in February and March of 2026.
“This program allowed us to turn $200,000 in gifts from First National Bank into $700,000,” said Bob Baker, director of corporate affairs at First National Bank. “Our bank’s Charitable Committee carefully selected 12 local organizations to support, with FHLB providing matching funds to more than double our impact.”
The Member Impact Fund supports not-for-profit organizations or government entities dedicated to strengthening communities through affordable housing and community development projects.
First National Bank applied for matching funds on donations to these organizations, resulting in total contributions as follows:
- Bishop Dudley Hospitality House – $157,500
- Boys and Girls Club of the Sioux Empire – $112,000
- Call to Freedom – $17,500
- Children’s Home Society of South Dakota – $17,500
- Flandreau Sports Association – $87,500
- Habitat for Humanity of Greater Sioux Falls – $36,750
- LifeScape Foundation – $35,000
- Sioux Falls Cares – $17,500
- Sioux Falls Zoo & Aquarium – $140,000
- TeamMates Mentoring of Sioux Falls – $17,500
- The Banquet Sioux Falls – $17,500
- Veterans Community Project of Sioux Falls – $43,750
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.”
Since its launch in 2023, the Member Impact Fund has provided more than $83 million in grants from FHLB Des Moines, generating more than $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.
“This has been a wonderful way to help strengthen our communities,” Baker said. “We’re beyond grateful for the contributions FHLB Des Moines has made to these 12 organizations and many more across our state.”
About The First National Bank in Sioux Falls:
For 140 years, The First National Bank in Sioux Falls has helped build the city of Sioux Falls and the communities it serves through innovative, relationship-first banking. With an infectious culture, a commitment to its communities, and a foundation built on its FIRST Values, First National Bank prides itself on being more than just a bank.
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 fhlbdm.com.
First State Bank of Roscoe partners with Federal Home Loan Bank of Des Moines to award $262,500 to organizations in Roscoe, Bowdle and Eureka through the Member Impact Fund
First State Bank of Roscoe, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that the Edmunds Central School District, Bowdle Healthcare Foundation and Eureka Community Health Services were awarded a check for $87,500 each. This was made possible by a grant from the FHLB Des Moines matching grant program called the Member Impact Fund.
When the First State Bank of Roscoe was first told about the matching grant program, they knew right away they wanted to participate. First State Bank of Roscoe’s mission has always been to serve the community and what better opportunity than through this matching grant program.
Edmunds Central School District will apply their $87,500 towards the building project underway to expand the school, Bowdle Healthcare Foundation plans to use the $87,500 towards the purchase of a Chemistry Lab Analyzer for the Bowdle Hospital and Eureka Community Health Services plan to renovate and make room for a pharmacy within the hospital and purchase a Lucas machine.
FHLB Des Moines provides funding solutions to more than 1200 members. 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.
This matching grant program will result in FHLB Des Moines awarding over $12.9 million in funding to support affordable housing and community development in Alaska, South Dakota, Guam and the Commonwealth of the Northern Mariana Islands.
“The Member Impact Fund is designed to help our members, like the First State Bank of Roscoe, champion the organizations that make a real difference in their communities,” said Kris Williams, president and CEO of FHLB Des Moines. “By partnering with the First State Bank of Roscoe, 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 community development needs.
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 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 community development and affordable housing. Notably every eligible application submitted to the program has received funding – reflecting the organization’s strong commitment to partnership and impact.
The First State Bank of Roscoe is proud to partner with FHLB Des Moines in awarding a total of $262,500 to these organizations.