• Northeast Bank partners with Federal Home Loan Bank of Des Moines to award $292,000.00 to eleven (11) area nonprofits through the Member Impact Fund

    Community

    Minneapolis, MN – June 2025– Northeast Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that the following organizations which perform valuable services in our community received a grant from the Member Impact Fund:

    • BETA drives success for Minnesota-based technology startups and founders through accelerator programs, community events, and ecosystem development.
    • My Very Own Bed provides new beds and linens to children of families who have recently secured stable housing.
    • Southern Anoka Community Assistance (SACA) Food Shelf & Thrift Store provides food and resources to those in need, while empowering dignity and independence to those they serve in the community.
    • WomenVenture provides access to capital, business consulting, training and development, mentorship, and a community of support to local entrepreneurs.
    • Rise provides people with intellectual and developmental disabilities, brain injuries, and other barriers to employment with the resources, opportunities, and support they need to thrive.
    • Dougherty Family College provides students with the academic, personal and financial support to earn an associate degree and a clear pathway to a four-year college degree.
    • Housing in Action is leading the fight for housing justice by creating dignified, affordable rental and homeownership opportunities.
    • Northside Boxing Club teaches self-discipline, confidence, compassion, and respect to the youth of North Minneapolis by offering free boxing training, physical fitness, and nutrition five days a week.
    • Children’s Dental Services provides a full range of dental services to children from birth until age twenty-six, and to pregnant women and people of all ages, regardless of family income.
    • Catholic Eldercare provides affordable elder housing and care across the continuum of nursing homes, independent living facilities, assisted living, senior day care programs, memory care, and rehabilitation services.
    • Anoka County Community Action Program (ACCAP) is committed to helping disadvantaged individuals out of poverty and into the community as productive citizens through educational opportunities, information and referral, and direct services, such as Head Start, Senior Programs, Homeownership and Affordable Housing.
    This matching grant program will result in FHLB Des Moines awarding $20 million in funding to support affordable housing and community development in Minnesota.

    “Northeast Bank is incredibly grateful for the additional funding the Member Impact Fund is putting back into communities across Minnesota,” said Eva Rasmussen, Chief Strategy Officer of Northeast Bank. “It is amazing to have this opportunity from the FHLB Des Moines to amplify our impact in the community.”

    Northeast Bank has been a proud partner of each of the listed nonprofit organizations for years. Together, each has been dedicated to improving their community through affordable housing, community development initiatives, and job creation.

    “By receiving the Member Impact Fund, SACA Food Shelf will be able to enhance the volunteer experience in their new building by purchasing lockers, benches, and upgrades to the break room, resulting in a higher level of comfort, satisfaction, and the retention of 100 weekly volunteers,” said Dave Rudolph, Co-Executive Director of SACA

    “BETA is excited about the grants from Northeast Bank and the FHLB of Des Moines. These funds will enable us to further scale our accelerator program, trainings, and community events to serve a larger number of startups, founders, and founders in training and to help make more valuable connections for them,” said Michael Arulfo, Chair of the BETA MN Board of Directors.

    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 continues to be a powerful resource in supporting our members as they expand access to affordable housing and drive community development,” 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.”

    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.
    This member matching grant program is part of FHLB Des Moines’ ongoing mission to offer a variety of funding options through its members.

    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.
    ###

    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.

    About Northeast Bank
    Northeast Bank is a business-focused, community-driven bank headquartered in Northeast Minneapolis since 1947. Proudly family- and employee-owned, we offer local leadership and decision-making that keeps us closely connected to the people and businesses we serve.

    Our mission is simple: building strong communities, one relationship at a time. We provide customized financing solutions and innovative digital banking tools—delivered with the personalized, high-touch service that sets us apart.

    As an SBA Preferred Lender, we specialize in supporting businesses and nonprofit organizations across the greater Twin Cities metro. Our experienced bankers and lenders are trusted partners, helping clients meet their financial goals, plan for the future, and grow lasting connections for long-term success.

    Learn more at www.NEBankMN.com.

    Northeast Bank partners with Federal Home Loan Bank of Des Moines to award $292,000.00 to eleven (11) area nonprofits through the Member Impact Fund

  • Upcoming Events

     

  • Building Business. Building Community. Building Relationships.