Nearly $75,000 Donated to Local Communities through FB&T Partnership

Frandsen Bank & Trust, in partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce a $74,500 donation across four non-profits that support affordable housing and community development initiatives across Minnesota.

“Investing in what matters to our customers and employees is central to who we are,” says Mike Gay, Frandsen Bank chief operations officer. “Partnering with FHLB Des Moines exponentially expands our impact and supports the organizations working every day to strengthen our communities.”

As part of its ongoing commitment to community investment, Frandsen Bank planned to contribute $18,625 to local partners: the Greater Mankato Area United Way, the Initiative Foundation, One Roof Community Housing, and the Southern Minnesota Initiative Foundation.

The Member Impact Fund, made available to FHLB Des Moines member organizations, matched $3 for each initial donation, significantly increasing the contribution's impact on communities across Minnesota.

“The Member Impact Fund enables our members to directly support local organizations who matter to them, creating value and a profound impact in their own communities,” says Kris Williams, president and CEO of FHLB Des Moines. “It’s inspiring to see the partnerships centered around improving local communities in such a variety of ways.”

Carrie Kazeck, Frandsen Bank Community Reinvestment Act (CRA) officer, says, “There is no doubt that these dollars will create a ripple effect given the important mission and activities of the recipient organizations.”

• Greater Mankato Area United Way received $40,500, which will be used to fund scholarships for Connecting Kids, an out-of-school childhood enrichment program, and financial assistance for YMCA memberships.

• Initiative Foundation received $10,000, which will support small businesses in Central Minnesota through lending, grants, entrepreneurship programs, nonprofit training, and technical assistance.

• One Roof Community Housing received $10,000 to further expand homeownership opportunities through affordable housing development, lending, down payment assistance, and home repair programs for low- to moderate-income households.

• Southern Minnesota Initiative Foundation received $14,000 and will use the funds to provide small business financial assistance, training, emergency loan funds, business loans, and grant programs.