News

Grant program supports affordable housing and community development.

McMinnville, OR— First Federal, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is proud to announce that Yamhill Carlton Together Cares will receive a $10,000 grant from the FHLB Des Moines Member Impact Fund. This matching grant program, which was introduced in 2023, will provide nearly $20 million to eligible organizations in order to strengthen communities in targeted areas of FHLB Des Moines’ district. In 2024 FHLB Des Moines increased the Member Impact Fund by $10 million.

Yamhill Carlton Together Cares (YCTC), an organization committed to enhancing the lives of youth and families, plans to utilize the grant to expand and enhance their highly impactful summer youth work program. This program serves as a cornerstone in their efforts to empower and support the youth aged 13-17 within the community. With the support of these funds, they aim to not only broaden the scope of available job placements but also to deepen the impact and reach of the program's offerings. Their summer youth work program provides a diverse range of employment opportunities for participating youth, encompassing roles such as childcare providers, summer camp counselors, farm workers, and support staff for athletic concessions, as well as active involvement in various community events and initiatives. Additionally, the funds will assist in addressing critical infrastructure needs within their community facilities which provide shelter during outdoor program activities. Furthermore, the funds will support the installation of four new backboards in the gyms utilized by their programs, improving sports facilities and enhancing recreational opportunities.

"We at Yamhill Carlton Together Cares are deeply grateful to First Federal and Federal Home Loan Bank of Des Moines for their generous grant of $10,000 from the FHLB Des Moines Member Impact Fund. This support will significantly bolster our summer youth work program, enabling us to offer expanded job opportunities and enhance our community programs. Such contributions are vital in fostering the development and empowerment of our young people, allowing us to make a substantial difference in their lives and our community. We are honored to partner with organizations that are as committed to community growth and youth empowerment as we are. Thank you for this incredible opportunity to deepen and extend our impact,” says Mark Rodriguez, Executive Director of Yamhill Carlton Together Cares. 

"We are proud to support Yamhill Carlton Together Cares in their vital work with this grant," remarked Jim Schlotfeldt, President and CEO of First Federal. "We are grateful for the opportunity to collaborate with the FHLB to aid organizations like YCTC in promoting the prosperity and health of our community's youngest members. We hope this contribution will make a meaningful difference in the lives of many children and families."

FHLB Des Moines provides funding solutions and liquidity 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 $3 for every $1 of an eligible FHLB Des Moines member's grant donation to strengthen the ability of not-for-profits or government entities to serve the affordable housing or community development needs of their communities. 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.

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, shares, “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.”

The Member Impact Fund matching program is available to organizations located in Hawaii, Montana, North Dakota, Oregon, Guam, American Samoa and the Northern Mariana Islands. Member institutions in these locations submitted applications in February and March 2024; funds were distributed directly to the member institution, which then provide the funding alongside a matching grant from FHLB Des Moines for the partner/recipient organization.

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 training, predevelopment assistance, management information systems or software, strategic planning, market study or community needs assessment, and working capital.

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 www.fhlbdm.com.

About First Federal:

Established in McMinnville, Oregon, First Federal is a Mutual Savings & Loan institution with a proud legacy of over 100 years in the Willamette Valley. With an unwavering focus on community, First Federal offers consumer lending, residential mortgage, commercial lending, and a broad range of personal and business banking services. Committed to excellence and service, First Federal continues to support and invest in the community's growth and prosperity through numerous giving programs and volunteer support.

This grant to Yamhill Carlton Together Cares is just one facet of First Federal's comprehensive approach to community impact. They are actively involved in various philanthropic endeavors, including monetary support, volunteer efforts, and financial literacy programs. Through the Member Impact Fund, the FHLB and its members, like First Federal, are dedicated to empowering communities across the region by supporting projects and organizations that significantly improve quality of life. For additional information, please visit First Federal's website at www.FirstFedWeb.com.