GROW South Dakota Receives $341,250 Through the Federal Home Loan Bank Des Moines Member Impact Fund

GROW South Dakota is pleased to share that we recently received $341,250 through the Federal Home Loan Bank of Des Moines (FHLB Des Moines) Member Impact Fund grant program to advance our vision of growing sustainable communities through housing, community, and economic development. This investment provides critical operational support to continue expanding access to housing and economic opportunities across the state, and we are grateful for the support provided through this opportunity.

GROW South Dakota will use the award to support the administration of our down payment assistance, direct mortgage, and small business lending programs, as well as special projects focused on advancing housing development in rural communities. Marcia Erickson, Chief Executive Officer of GROW South Dakota, shared, “This funding provides essential operational support to sustain our programs and services, helping expand housing and economic opportunities and strengthen communities.”

FHLB Des Moines supports mortgage lending, economic development, and affordable housing through its network of member institutions. One way it does this is through the Member Impact Fund. “The Member Impact Fund is designed to help our members champion organizations like GROW South Dakota that make a real difference in their communities,” said Kris Williams, president and CEO of FHLB Des Moines.

Through this program, FHLB Des Moines members who partner with GROW South Dakota selected our organization for a donation, which was then matched by FHLB Des Moines 2.5:1. We appreciate the banks who supported us through this opportunity, including 1st Financial Bank USA, DNB National Bank, Dacotah Bank, Dakotaland Federal Credit Union, First Bank & Trust, First Savings Bank of Britton, First Savings Bank of Sisseton, Great Plains Bank, Heartland State Bank, and Sunrise Banks. Their generosity, along with their ongoing partnership, plays a vital role in advancing our mission, and we are sincerely thankful for their shared commitment to the communities we serve.

This investment reflects the ongoing collaboration between GROW South Dakota and our partnering financial institutions. With the support of FHLB Des Moines and these member banks, we will continue working alongside individuals, families, and communities to support long-term stability and growth.