CHEYENNE, Wyo. — The Federal Home Loan Bank, or FHLB, of Des Moines has awarded more than $4.6 million to hundreds of nonprofits and government agencies across Wyoming to support affordable housing and community development needs.
The money will be used to provide around 182 nonprofits with resources to help their communities, including job training, down payment assistance, financial literacy, food banks, youth programs and more.
The bank partners with 26 financial institutes in 13 states, including Wyoming, Montana, Idaho and Utah, as well as three U.S Pacific Territories to support mortgage lending, economic development and affordable housing. FHLB Des Moines is one of 11 banks that make up the Federal Home Loan Bank system, one of the largest sources of funding for community lending in the states.
Wyoming’s $4.6 million was awarded through the bank’s Member Impact Fund, a matching grant program specifically designed to offer financial support for affordable housing and community development initiatives in targeted areas of the FHLB Des Moines district. The fund, which totals $15 million, is a nearly $3-to-$1 match of member donations. Member financial institutions receive the grant funding from the bank and then allocate it to their local organization of choice in Hawaii, Idaho, Utah, Wyoming and the U.S. territories of Guam, American Samoa and the Commonwealth of the Northern Mariana Islands.
To celebrate the grant and express appreciation for the cause, executives from the FHLB Des Moines bank, Wyoming financial institution members and local nonprofits gathered at the Boys and Girls Club of Cheyenne this afternoon. They held a meet and greet reception in the club’s gym and then exchanged a series of thank-you speeches.
Sen. Cynthia Lummis, who was also in attendance at the celebration, said community banks and credit unions preserve the values of local nonprofits and are the “lifeblood” of Wyoming’s communities.
“These local community institutes for these youth programs — programs that assist our seniors and people that need the assistance of their friends and neighbors in their community — that’s what’s important, that’s what you do. That’s what matters.”
As a ranking member of the U.S Senate Committee on Banking, Housing and Urban Development, Lummis said creating affordable housing is a priority for her. She is thankful that several nonprofit grant recipients are using the money to create such housing opportunities for Wyomingites in need.
“Everywhere I go in Wyoming, Housing comes up. Everywhere,” she said.
One such organization is the Cheyenne-based Unaccompanied Student initiative, or USI, which provides safe and stable homes to for students ages 16–20 experiencing homelessness across the states. Executive director Jessica Sayers said the funds have helped staff to better strategize and organize their program. Homelessness among students is going up, Sayers said. In 2017 the organization needed to provide for only two local students. In 2020, that number went up to 13, and in 2022, 44 students were in need of a home, she said. Some of the grant money will also go to their Laramie program to provide safe housing for 10 homeless students.
“Because of these funds, USI was able to continue giving to our students so they can give back to our communities,” Sayer said during the event.
Habitat for Humanity of Laramie County received roughly $67,000 from six local partners, which will also be used for affordable housing projects, said Executive Director Dan Dorsch. The organization recently broke ground on creating two single-family homes in the county. The funds will also be used to train new staff and help their Fresh Start program. The program assists locals who are transitioning out of homelessness, recovering from addiction, escaping domestic violence or facing other challenges.
Although the Boys and Girls Club of Cheyenne, another grant recipient, isn’t focused on housing, it is using the money provided to it through Blue Cross Blue Shield to hire social emotional support specialists. Youth are struggling to regulate their emotions and talk about their problems, said Justin Pendleton, chief executive officer of the club.
“This will help our staff be better prepared to serve our kids, help our kids to learn how to regulate those emotions, and also serve our families in better ways, to help them find resources that are needed,” he said.
Kim DeVore, CEO of Jonah Bank in Casper and Wyoming representative for the FHLB of Des Moines board, said she is amazed at the positive impact nonprofits have on community members.
“As I was looking at the list this morning, I was thinking, ‘You guys, that’s the epitome of us, Wyoming.'” she said during the event. “There’s a whole bunch of us just doing little things to make our communities better.”
