Timberland Bank Partnered with Federal Home Loan Bank of Des Moines to Award $772,000 to 43 Non-Profit Organizations through the Member Impact Fund

(Hoquiam, WA) (November 22, 2024)– Timberland Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that 43 Western Washington non-profit organizations received grants totaling $772,000 from the FHLB Des Moines Member Impact Fund. This matching grant program, which was introduced in 2023, will provide nearly $9 million to eligible Washington organizations in order to strengthen communities in targeted areas of FHLB Des Moines’ district.

“We are very grateful to FHLB Des Moines for offering a matching grant program like the Member Impact Fund in Washington,” said Dean Brydon, Chief Executive Officer of Timberland Bank. “Through this program we were able to substantially increase contributions to important, local organizations serving the communities of Grays Harbor, Kitsap, Lewis, Pierce, and Thurston counties. We have experienced an outpouring of appreciation from the recipients of these grants.”

“Over the past year, our numbers have more than doubled,” said Doug Iverson, Director of the Montesano Food Bank. “Our expenses have skyrocketed and we are having to purchase more and more product each week. Your donation will more than cover expenses for our Thanksgiving Baskets and help on our Christmas Baskets.”

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 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.

In 2024, the Member Impact Fund matching program supported organizations located in Hawaii, Montana, North Dakota, Oregon, Washington, Guam, American Samoa and the Northern Mariana Islands. Member institutions in these locations submitted applications in 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 job training, affordable housing, financial literacy, food banks and youth programs.