News

 First Federal partners with Federal Home Loan Bank of Des Moines to Award $10,000 to Willamette Valley Cancer Foundation through the Member Impact Fund                

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 the Willamette Valley Cancer Foundation 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.                

The Willamette Valley Cancer Foundation administers a patient financial assistance program to help cancer patients pay their household bills while they undergo treatment. Often, patients are unable to work for an extended period if they return to work at all. With these funds, the Cancer Foundation is able to support patients’ recovery by covering mortgage or rent payments, keep utilities on and cell phone plans paid, offer gas and grocery cards, support auto, home, and health insurance premiums, buy needed prescriptions, and so much more.                

“We are beyond thrilled to receive these funds for our patient financial assistance program. Not only does the money have an immediate impact on families burdened by cancer, but the fact also that First Federal recognized the Willamette Valley Cancer Foundation as a worthy grantee means a lot to us. Simply put, First Federal shows up for their customers and their community.” said Patty Williams, Executive Director of Willamette Valley Cancer Foundation.                

"We are deeply honored to provide this grant to the Willamette Valley Cancer Foundation," said Jim Schlotfeldt, President and CEO of First Federal. "Our partnership with FHLB and our ability to support vital community resources like the Cancer Foundation supports our core mission— to serve and uplift our community in meaningful ways. We trust that these funds can positively impact the lives of those facing cancer in the Willamette Valley."                 

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                T

he 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.                 

For additional information, please visit First Federal's website at www.FirstFedWeb.com.