First State Bank of Claremont and Langford to Compete for $15,000 Strong Communities Award
Monday, October 05, 2015
The Federal Home Loan Bank of Des Moines (FHLB Des Moines) is excited to announce that First State Bank of Claremont and the community of Langford have been selected as one of seven Strong Communities Award finalists vying for the opportunity to receive $15,000 for The Front Porch, a community investor-owned business development project in a town of 316 residents.
FHLB Des Moines challenges communities to rally behind their community’s project during a public vote from October 5 – October 16 on Strengthening Communities Together™ at www.fhlbforcommunity.com. The voting will serve as a component of the selection process to award a $15,000 stipend to support small business and economic development growth in their community.
FHLB Des Moines member First State Bank partnered with local leaders to develop the Langford Main Street Center dba The Front Porch. The center opened in July of 2015 and is home to four new Main Street businesses. The project has created and retained more than 40 jobs and has increased the community’s tax revenue.
The Strong Communities Award honors the projects, the people and the programs that promote small business growth and retention in their communities.
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The Federal Home Loan Bank of Des Moines is a member-owned cooperative that provides funding solutions and liquidity to nearly 1,500 financial institutions to support mortgage lending, economic development and affordable housing in their communities. Serving 13 states and three U.S. Pacific territories, 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. The Des Moines Bank is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.