[Press Release] CorTrust Bank Partners with Federal Home Loan Bank of Des Moines to Award $183,750 to 18 Causes in South Dakota
Community Banking Press Release
CorTrust Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that 18 causes in South Dakota will receive grants from the Member Impact Fund, totaling $183,750. This matching grant program will result in FHLB Des Moines awarding over $12.9 million in funding to support affordable housing and community development in Alaska, South Dakota, Guam and the Commonwealth of the Northern Mariana Islands.
“CorTrust Bank is proud to partner with FHLB Des Moines to contribute funds towards causes that are a driving force of positive change in our local communities. We are thrilled to be working with them to ensure affordable housing and community development initiatives in South Dakota continue to thrive,” said Jack Hopkins, President and CEO of CorTrust Bank.
Grant Recipients
The 18 causes receiving grants include: Abbott House, Artesian Community Improvement Association, Beseda Hall, City of Freeman, Day County Housing Development Corporation, Gayville Volunteer Fire and Rescue Department, Habitat for Humanity of Greater Sioux Falls, Homes are Possible, Inc., Letcher Community Development Foundation, McCrossan Boys Ranch, Mitchell Area Development Corporation, Mount Vernon Economic Development Group, Prairie View Housing, Safe Harbor, Sesdac, Sioux Empire Housing Partnership, St. Francis House, and Yankton Food for Thought.
“The Member Impact Fund is designed to help our members champion the organizations that make a real difference in their communities. By partnering with our members, we’re able to multiply resources and support their vital work as they continue to strengthen opportunities for the people they serve.”
— Kris Williams, President and CEO of FHLB Des Moines
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 matching grant donations to strengthen the ability of not-for-profits or government entities to support the needs of their communities.
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 launch in 2023, the Member Impact Fund has provided more than $83 million in grants from FHLB Des Moines, generating over $113 million in combined support for affordable housing and community development. Notably, every eligible application submitted to the program has received funding—reflecting the organization’s strong commitment to partnership and impact.
About CorTrust Bank
Since 1930, CorTrust Bank has been serving the needs of individuals and businesses throughout 16 South Dakota communities, and 15 Minnesota communities, with 37 branch locations. What started as a small operation serving the needs of local farming families in Artesian, SD, has today grown into a fourth-generation family-owned community bank with $1.50 billion in assets, and $170 million in equity and reserves. CorTrust Bank – raise your expectations.
About Federal Home Loan Bank of Des Moines
The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with over 1,200 member institutions to support affordable housing, economic development and community improvement.
FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.