Recently, the Federal Home Loan Bank of Des Moines (FHLB Des Moines) awarded $20 million to hundreds of eligible not-for-profit and government organizations in Minnesota. Farmers & Merchants State Bank was one of the hundreds of financial institution members who applied for and received matching grants through the program at a $3 match for every $1 donated.
As a result, we tripled our bank’s $80,000 donation. With the FHLB Des Moines matching grants, $320,000 in total was awarded to 4 area projects. Fund recipients included: Central Minnesota Habitat for Humanity and Habitat for Humanity of Morrison County to be used for community builds; Eden Valley School District to support the renovation of the former bank building into a community daycare (building previously donated by Farmers & Merchants State Bank); and the construction of a new and improved scoreboard for the Pierz High School Football Field.
Over the next few months, we’ll share more about these projects, and the amazing people and organizations behind them. Thank you, FHLB Des Moines for your generosity and helping make our dollars go so much further.