Two CNMI nonprofits are awarded more than $95K
DES MOINES, Iowa—More than $95,000 has been awarded to two nonprofit agencies in the Commonwealth of the Northern Mariana Islands to support affordable housing and community development needs. This outreach is available through the Federal Home Loan Bank of Des Moines, or FHLB Des Moines, which has partnered with two member financial institutions: Bank of Guam and Bank of Hawaii.
The Member Impact Fund is a matching grant program designed to offer financial support for affordable housing and community development initiatives in targeted areas of the FHLB Des Moines district. The fund, which totals $15 million, is a nearly $3-to-$1 match of financial member donations. The program was available to member financial institutions to support eligible organizations located in Hawaii, Idaho, Utah, Wyoming, and the U.S. territories of Guam, American Samoa and the Commonwealth of the Northern Mariana Islands.
Bank of Guam and the Bank of Hawaii received matching grants from the MIF to assist two local non-profit organizations: Micronesia Community Development Organization and Karidat Social Services.
Bank of Guam received more than $65,000 from the MIF and contributed more than $21,000 in addition to support MCDC, who provides homeownership counseling and affordable housing options for purchase and rental.
“We selected MCDC to receive the MIF grant because they are a valuable resource, focused on facilitating homeownership for the residents of Micronesia. MCDC addresses a fundamental need—providing a tangible solution that resonates deeply within the community,” said Bank of Guam chief sales officer Keven Camacho.
Karidat also received nearly $8,500 through the MIF. Karidat is one of the primary safety net social service providers in the CNMI. It provides a range of victim services to survivors of domestic violence, sexual assault and human trafficking. It also provides emergency food and rental assistance. According to Karidat executive director Lauri Ogumoro, the grant will be used to support the staff who carry out the programs. “Karidat is grateful to the Bank of Hawaii and FHLB Des Moines for remembering us and the people we serve,” she said.
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.
“We are thrilled to see grants from our MIF having a direct, positive impact on the communities in which our members help advance affordable housing and community development needs in a meaningful way,” said Kris Williams, president and CEO of FHLB Des Moines.
According to Camacho, the long-lasting partnership between Bank of Guam and FHLB Des Moines shows how powerful working together can be. “This collaboration is more than just financial tools. It’s a way for the Bank of Guam to show its commitment to improving communities, fostering economic growth and practicing responsible banking,” he said. “As this partnership continues, it strengthens Bank of Guam’s position as a trusted financial institution and reinforces its role as a positive force for change in people’s lives and the communities they belong to.”
Learn more about the MIF at www.fhlbdm.com/products-services/affordable-housing/member-impact-fund. (PR)
Housing
