Warm springs river in Eastern Oregon

Member Impact Fund Grant

Community Bank partners with Federal Home Loan Bank of Des Moines to award $24,000 to Community Connection of Northeast Oregon Housing and Resource Center through the Member Impact Fund

Grant program supports affordable housing and community development.

April 17, 2024

Employees from Community Bank presenting Community Connection of NE Oregon with check for $24,000. La Grande, OR - Community Bank in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that Community Connection of Northeast Oregon’s (CCNO) Housing Resource Center received a $24,000 grant from the FHLB Des Moines Member Impact Fund. This matching grant program, which was introduced in 2023, will provide nearly $20 million to eligible organizations in order to strengthen communities in targeted areas of FHLB Des Moines’ district. In 2024 FHLB Des Moines increased the Member Impact Fund by $10 million.

Community Bank President and CEO, Tom Moran stated “The Housing Resource Center is an amazing program to have available to residents in Baker, Union, Umatilla, and Wallowa County. We are excited to be able to partner with FHLB Des Moines to provide them additional funding.”

Community Bank has been a proud sponsor of the Housing Resource Center since 2018. Together, they have been dedicated to affordable housing and community development initiatives.

CCNO’s Housing Resource Center supports the mortgage lending industry by providing financial, pre-purchase, and mortgage default education and counseling.  They have three HUD-certified housing counselors with additional certifications in Homeownership Counseling, Foreclosure Intervention and Default Counseling and Homeownership Education. 

The Housing Resource Center offers Individual Development Accounts (5:1 matched savings programs) allowing first-time homebuyers to save up to $21,600 for a down payment.  This 25-month program allows for time to improve credit, reduce debt, and learn the many phases of the home purchase process. Down Payment Assistance programs are also offered, allowing CCNO to assist first-time homebuyers with additional funds to be used toward their home purchase.  A portion of these funds are reserved for veterans. 

Mortgage default counseling explores the various options and resources available to help homeowners avoid foreclosure.  All counseling clients go through rigorous financial coaching to help produce sustainable budgets.

The HRC also conducts Homebuying Education Workshops and Financial Empowerment classes quarterly.  These classes are open to the public free of charge.  CCNO’s Housing Resource Center is the only agency providing these services in Baker, Grant, Union, and Wallowa counties, all underserved communities in Oregon. 

“We were thrilled to receive the call from Morgan Jones of Community Bank with this grant opportunity.  We have partnered with Community Bank since 2018 supporting their clients and the community at large with valuable counseling and education to create financially stronger individuals while providing resources and tools to help first-time homebuyers make their first home purchase and by helping homeowners struggling to make their mortgage payments save their homes from foreclosure.  Our sincere thanks to Community Bank and FHLB Des Moines for supporting us in helping our community.” Debbie MacBaker, Housing Resource Center Manager

FHLB Des Moines provides funding solutions and liquidity 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 $3 for every $1 of an eligible FHLB Des Moines member's grant donation to strengthen the ability of not-for-profits or government entities to serve the affordable housing or community development needs of their communities. The Member Impact Fund awards are given in partnership with member financial institutions to communities in their districts to become more vibrant places to live and work.

The Member Impact Fund is part of FHLB Des Moines’ ongoing mission to offer a variety of funding options through its members to support affordable housing and community development needs. Kris Williams, President, and CEO of FHLB Des Moines, shares, “We are thrilled to see grants from our Member Impact Fund having a direct, positive impact on the communities in which our members help advance affordable housing and community development needs in a meaningful way.”

The Member Impact Fund matching program is available to organizations located in Hawaii, Montana, North Dakota, Oregon, Guam, American Samoa and the Northern Mariana Islands. Member institutions in these locations submitted applications in February and March 2024; funds were distributed directly to the member institution, which then provide the funding alongside a matching grant from FHLB Des Moines for the partner/recipient organization.

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 training, predevelopment assistance, management information systems or software, strategic planning, market study or community needs assessment, and working capital.


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.