First Interstate Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that 125 organizations in Montana, North Dakota, and Oregon will receive over $2.5 million in donations thanks to collaboration between the First Interstate BancSystem Foundation and the FHLB Des Moines Member Impact Fund. The Member Impact Fund awards are given in partnership with member financial institutions to communities in their districts to become more vibrant places to live and work. In total, FHLB Des Moines received over 500 applications for matching funds from 94 financial institutions.
“As a community bank, First Interstate is intent on living our values of People First, Always and Commitment to Community,” said Kevin Riley, President and CEO of First Interstate Bank. “We are grateful to FHLB Des Moines and its Member Impact Fund for a generous matching grant. Together, our dollars will go further in supporting the communities in which we live and work.”
Over the coming weeks, First Interstate bankers will present the funds to 82 Montana, two North Dakota, and 41 Oregon nonprofit organizations. Recipients 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 training, predevelopment assistance, management information systems or software, strategic planning, market study or community needs assessment, and working capital.
First Interstate has a long history of investing in the places in which it operates. In conjunction with its philanthropic arm, the First Interstate BancSystem Foundation, First Interstate makes annual donations and grants of 2% of its pre-tax earnings to local communities, making a concerted effort to address the most urgent needs in its footprint.
Since its inception in 1990, the First Interstate Foundation has contributed over $87 million to communities within First Interstate’s footprint.
The Member Impact Fund is part of FHLB Des Moines’ ongoing mission to offer a variety of funding options through its members to support affordable housing and community development needs. Kris Williams, President and CEO of FHLB Des Moines, shared, “We are thrilled to see grants from our Member Impact Fund having a direct, positive impact on the communities in which our members help advance affordable housing and community development needs in a meaningful way.”