BOG partners with FHLB Des Moines to award $200K to WestCare Pacific Islands

HAGÅTÑA, Guam—Bank of Guam, in partnership with Federal Home Loan Bank of Des Moines, announced that WestCare Pacific Islands will receive a $200,000 grant from the FHLB Des Moines Member Impact Fund. The total grant was made possible through Bank of Guam’s initial $50,000 donation toward the Member Impact Fund to support WestCare’s mission and services on recovery and resilience.

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.

“As The People’s Bank, we’re honored to work again with FHLB Des Moines to help support our community organizations, especially those that uplift the human spirit. This partnership embodies our commitment to empowering communities and supporting our local partners that help to provide more affordable housing options for our local families and veterans,” said BOG president and CEO Joaquin P. L.G. Cook.

WestCare offers a broad array of programs to uplift the most vulnerable populations in our community that address gaps in services. WestCare’s experience includes culturally appropriate and adapted prevention programming, homeless support services, and treatment programs in Guam, Palau and the CNMI. These programs cater to youth, families, and communities addressing substance abuse disorder, mental health services, Veteran services, case management, and linkages to care for populations who would otherwise have little to no access to services. Since 2014, WestCare has delivered critical services to address homelessness through rapid re-housing, permanent housing, and supportive services programs.

In partnership with Bank of Guam, WestCare aims to assist individuals in obtaining and maintaining permanent housing by establishing roots that help their clients succeed. Through the Member Impact Fund, WestCare will provide permanent supportive housing services to clients enrolled in any of their homeless support services programs including Supportive Services for Veteran Families (SSVF), Path To Freedom, and Håtsa.

“We thank Bank of Guam for being the heart of our community and for always standing by to help those who need it most. Your support has made a real difference in the lives of many. We also appreciate you for connecting us with FHLB, who has given us this incredible opportunity to expand our services and make a positive impact on our community, especially with our veterans. The generosity and compassion of Bank of Guam and FHLB is truly inspiring, said WestCare Pacific Islands chief operating officer Aja Ramos.

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. (PR)