ROCHESTER, MN (June 6, 2025) |
First Alliance Credit Union, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that Three Rivers Community Action will receive a $30,000 grant from the Member Impact Fund. This matching grant program will result in FHLB Des Moines awarding $20 million in funding to support affordable housing and community development in Minnesota.
“At First Alliance, we believe that homeownership is the heart of a strong community.” shared Brent Rempe, President/CEO of First Alliance Credit Union, “We are delighted to be able to support a mission driven community organization working diligently to make homeownership possible for more families in Southeast Minnesota. We are thankful to FHLB Des Moines for the opportunity to partner on this grant.”
First Alliance Credit Union has been a proud partner of Three Rivers Community Action for several years, and together they have been dedicated to improving their community through affordable housing and community development initiatives.
The $30,000 in funding will support the Achieve Homeownership Program at Three Rivers Community Action. This collaborative program identifies and addresses barriers to homeownership faced by households across southern Minnesota. Over 80% of participants are BIPOC and more than 50% are first-generation homeowners. The innovative program provides financial coaching, homebuyer education and counseling services that are essential for successful first-time homeownership. In 2024, the Achieve Homeownership Program supported over 240 participants, helping 29 local families purchase a first home.
Courtney Dugstad, COO of Three Rivers Community Action, expressed her gratitude, “We are extremely grateful for the support of First Alliance Credit Union and FHLB Des Moines for this generous grant. The Achieve Program has been one of our cornerstone services since 2008 and has supported over 2,500 Southeast Minnesota families in that time. This grant will allow us to expand our program and continue to focus on bridging the gap of homeownership in our community”
FHLB Des Moines provides funding solutions 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 FHLB Des Moines members up to $3 for every $1 in matching grant donations to strengthen the ability of not-for-profits or government entities to support the needs of their communities.
“The Member Impact Fund continues to be a powerful resource in supporting our members as they expand access to affordable housing and drive community development,” says Kris Williams, President/CEO of FHLB Des Moines. “It’s inspiring to see the partnerships centered around improving local communities in such a variety of ways.”
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.
This member matching grant program is part of FHLB Des Moines’ ongoing mission to offer a variety of funding options through its members.
Since its founding in 2023, the Member Impact Fund has supported affordable housing and community development with nearly $70 million in grants awarded by FHLB Des Moines. Member institutions apply and receive Member Impact Fund matching grants to be distributed to eligible organizations alongside their own grant contribution.
