City of St. Peter receives $20,000 grant from Federal Home Loan Bank of Des Moines and Pioneer Bank through the Member Impact Fund

Pioneer Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that the City of St. Peter will receive a $20,000 grant from the FHLB Des Moines Member Impact Fund. This matching grant program, which was introduced in 2023, will provide nearly $12 million to eligible Minnesota organizations in order to strengthen communities in targeted areas of FHLB Des Moines’ district.

“This funding helps us move forward on important community enhancements that benefit families of all ages,” said Todd Prafke, City Administrator of St. Peter. “We appreciate the support of Pioneer Bank and FHLB Des Moines in making this vision a reality.”

The grant will support the construction of a new splash pad and accessible playground in St. Peter, providing inclusive recreational opportunities for residents and visitors alike.

“Projects like St. Peter’s new splash pad and playground strengthen our communities in visible, lasting ways,” said Mike Kunkel, Market President of Pioneer Bank in St. Peter. “We’re proud to be a partner in bringing these enhancements to life.”

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 up to $3 for every $1 in matching grant donations to strengthen the ability of not-for-profits or government entities to support the needs of their communities.

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.”

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.

Since its founding in 2023, the Member Impact Fund has supported affordable housing and community development with nearly $70 million in grants awarded by FHLB Des Moines. Member institutions apply and receive Member Impact Fund matching grants to be distributed to eligible organizations alongside their own grant contribution.