Banner Bank partners with Federal Home Loan Bank of Des Moines to award $20,000 to Common Ground Community Housing Trust through the Member Impact Fund

Banner Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that Common Ground Community Housing Trust receive a $20,000 grant from the FHLB Des Moines Member Impact Fund. This matching grant program, which was introduced in 2023, will provide nearly $12 million to eligible Washington organizations in order to strengthen communities in targeted areas of FHLB Des Moines’ district.

Banner Bank has been a proud sponsor of Common Ground since 2022. Together, they have been dedicated to affordable housing and community development initiatives.

Common Ground will use the funds to support the general operations as they continue their endeavor to deliver affordable homeownership opportunities to low-to-moderate-income households in the Greater Wenatchee Valley. Common Ground has broken ground on their first project and plans to deliver their first home(s) in 2025

“We are profoundly grateful for the support Banner Bank has demonstrated over our first several years of establishment. It has allowed us to make great strides organizationally, get our first project off the ground, and deliver on our commitment to build our community’s affordable home ownership inventory. Their partnership with FHLB strengthens our efforts immensely”, said Thom Nees, Executive Director of Common Ground.

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.”

In 2024, the Member Impact Fund matching program supported organizations located in Hawaii, Montana, North Dakota, Oregon, Washington, Guam, American Samoa and the Northern Mariana Islands. Member institutions in these locations submitted applications in 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 job training, affordable housing, financial literacy, food banks and youth programs.