Credit Unions Across GoWest Utilize 3:1 Grant Program to Leverage Funding
June 15, 2023
A number of credit unions in the GoWest region have partnered with the GoWest Foundation in successful grant applications for the Federal Home Loan Bank of Des Moines Member Impact Fund. With the generous support from BECU, CapEd CU, Idaho Central Credit Union, Mountain America CU, Old West FCU, P1FCU, StagePoint FCU, and STCU, the GoWest Foundation will be better positioned to drive collaborative credit union solutions to alleviate workforce housing burdens with nearly $200,000 in grant and matching funds.
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. This matching grant program, which was introduced this year, provides up $15 million to eligible organizations in order to strengthen communities in targeted areas of the FHLB Des Moines district.
The Member Impact Fund matches more than $2 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 GoWest Foundation recognizes the need for workforce housing solutions in Idaho and Wyoming, and are excited to bring this funding alongside the work that credit unions are already doing in those communities.
To learn more about GoWest Foundation’s workforce housing initiative, please visit the Foundation’s website.
Posted in Donors, Foundation, Grants, Workforce Housing.