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Faulkton to Compete for $15,000 Federal Home Loan Bank Strong Communities Award

Friday, July 18, 2014

Who recruited a new grocery store to their small community? Who is supporting the expansion of a technology incubator? Who understands the importance of providing opportunities to small and minority contractors? FHLB Des Moines members!


We are excited to announce the six finalists for our first ever Strong Communities Award. The award honors the projects, the people and the programs that promote small business growth and retention in the community and also highlights the great work that our member financial institutions are doing every day to help their communities thrive.


The 2014 Strong Communities Award attracted a strong and diverse pool of applications. Applications varied between urban and rural communities; geographic location (Iowa, Minnesota, Missouri, North Dakota and South Dakota); and project type; however, they all had one thing in common – strong support from a local FHLB Des Moines member financial institution.


The following FHLB Des Moines members, with the project location in parenthesis, were selected to participate in a public vote on Strengthening Communities Together™ on July 21-August 1:


Dacotah Bank (Faulkton, South Dakota) - Developed a strip mall that created retail opportunities and jobs, while increasing traffic through the community of 735 residents.

Denver Savings Bank (Denver, Iowa) - Devised a financial package to bring a grocery store to town and provided cash grant incentives to attract new residents.

First National Bank and Union State Bank (Greenfield, Iowa) - Renovated a local opera house into a multi-use community facility in the heart of the downtown business district.

F&M Community Bank (Chatfield, Minnesota) - Convinced one of the community’s largest industrial employers to remain in town, leading to the expansion and creation of new jobs.

Pulaski Bank (St. Louis, Missouri) - Financed a facility that houses an incubator for start-up tech companies in the region, putting the tech support and financing partners in the same building.

Reliance Bank, Heartland Bank and Citizens National Bank (St. Louis, Missouri) - Created a loan fund for small and minority contractors that has provided the financial capacity to bid, accept and carry out the work of large scale property contracts.


One winner, as voted upon by members and community partners, will be recognized during a community celebration and receive a $15,000 stipend. The remaining finalists will receive a $2,500 stipend.


Vote between July 21 - August 1 for Faulkton!

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The GROW South Dakota Organizations Have had a Remarkable Few Years!

Grow South Dakota deployed 172 down payment and closing cost loans for a total of $1.17 million, paired with $25.2 million in partner first mortgages.

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GROW South Dakota

GROW South Dakota
104 Ash Street East | Sisseton, SD  57262
Phone (605) 698-7654 | Fax (605) 698-3038