Amanda Isaacson, Backroad Meats, Milaca
Amanda Isaacson serves a customer at Backroad Meats in Milaca. The business opened its U.S. Highway 169 location in 2024 with support from an Initiative Foundation loan and a USDA grant. "The Initiative Foundation has been involved in each phase of our business," Amanda said. "Without that help, we never would have been able to do what we’ve done.”

Local Banks, FHLB Des Moines Drive $140K Investment

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LITTLE FALLS, Minn.–Thanks to the generosity of 11 Central Minnesota financial institutions, the Initiative Foundation has secured $140,000 in community investments through a partnership with the Federal Home Loan Bank of Des Moines and its Member Impact Fund.

Each participating financial institution donated between $2,500 and $5,000, totaling $35,000 in contributions. Through the Member Impact Fund, FHLB Des Moines provided a $3 match for every $1 donated, bringing the total to $140,000 invested in Central Minnesota community and economic development.

The result: a major boost for local efforts focused on small business support, community development, childcare and other initiatives that strengthen the region’s economy and improve quality of life.

“These funds are going directly into the communities we serve,” said Brian Voerding, Initiative Foundation president. “We are deeply grateful for the partnership and trust of both our local banking community and the Federal Home Loan Bank of Des Moines.”

The Initiative Foundation would like to extend sincere thanks to the following financial institutions for their generous contributions:

  • BankVista
  • Citizens State Bank of Waverly
  • Falcon National Bank
  • Frandsen Bank & Trust
  • Harvest Bank
  • Mid Minnesota Federal Credit Union
  • Pine Country Bank
  • Sentry Bank
  • Sherburne State Bank
  • Wadena State Bank
  • Western Bank

“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,” said Kris Williams, president and CEO of FHLB Des Moines. “It’s inspiring to see the partnerships centered on improving local communities in such a variety of ways.”

Through this grant cycle, FHLB Des Moines has awarded $20 million in matching funds to more than 170 member institutions to support mission-based organizations in Minnesota.

About the FHLB Member Impact Fund

The Member Impact Fund is a matching grant program that provides funding to strengthen communities in targeted areas. The program encourages partnerships between eligible organizations and member financial institutions to support affordable housing or community development.

About the Initiative Foundation

The Initiative Foundation serves the 14 counties and two Native nations of Central Minnesota: Benton, Cass, Chisago, Crow Wing, Isanti, Kanabec, Mille Lacs, Morrison, Pine, Sherburne, Stearns, Todd, Wadena and Wright counties and the Leech Lake and Mille Lacs Bands of Ojibwe. Based in Little Falls, the Foundation exists to improve the quality of life and to build stronger communities in Central Minnesota by offering business loans, nonprofit grants, leadership training and donor services through its Partner Funds programs. Since 1986, the Initiative Foundation and its Partner Funds have invested multiple millions in the region through targeted grants and business financing investments.

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