Initiative Foundation Receives $10,000 from FB&T and Federal Home Loan Bank of Des Moines

Frandsen Bank & Trust, in partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce a $10,000 donation to the Initiative Foundation.

“We’re proud to support the work of the Initiative Foundation, whose dedication to supporting economic development in our local community aligns closely with our own mission,” says Sarah Kinkeade, Frandsen Bank Brainerd Lakes market president. “Thanks to our partnership with FHLB Des Moines through the Member Impact Fund, we’re able to increase the impact of our contribution to support our shared values.”

The $10,000 donation will help the Initiative Foundation continue its work supporting small businesses through training, technical assistance, entrepreneurship programs, and lending. Market leaders from Braham, Foley, Forest Lake, and Pine City joined Kinkeade in contributing to the match program, as the work supports the entire region.

“These are critical dollars that will directly support underserved entrepreneurs and rural small business owners through our training and coaching programs,” said Brian Voerding, Initiative Foundation president. “We're truly grateful for our partnership with Frandsen Bank & Trust and the Member Match grant program from FHLB Des Moines. Their commitment to strengthen small businesses and local economies across the region is a powerful example of how financial institutions can invest in long-term community success.”

This increased donation is made possible through the Member Impact Fund, a grant program from FHLB Des Moines that matches up to $3 for every $1 donated by member organizations like Frandsen Bank. The program is designed to strengthen the ability of not-for-profits or government entities to support the needs of their local communities.