St. Paul, Minn. | June 12, 2025 – Drake Bank, in partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that the Minnesota Housing Partnership (MHP) and Northcountry Cooperative Foundation will each receive a $10,000 grant from the Member Impact Fund. Overall, FHLB Des Moines’ matching grant program resulted in awarding $20 million in funding through 798 awards to support affordable housing and community development in Minnesota.
“We’re proud to partner with FHLB Des Moines to support two outstanding advocates—Northcountry Cooperative Foundation and Minnesota Housing Partnership,” said Greg Larson, President and CEO at Drake Bank. “Their dedication to our community is inspiring, and we’re excited for the positive impact ahead. Thank you to all our partners for helping build better futures together.”
FHLB Des Moines offers funding solutions to over 1,200 members, supporting mortgage lending, economic development, and affordable housing in the communities they serve. The Member Impact Fund provides FHLB Des Moines members with up to $3 for every $1 in matching grant donations, strengthening the ability of not-for-profits and government entities to support the needs of their communities.
Recipient organizations were selected based on their 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.
“MHP is honored to receive this generous contribution from Drake Bank in support of our efforts to create more homes where families and communities can thrive. Drake’s investment in the community is both strategic and essential, and we’re proud to partner with them to meet Minnesota’s housing needs,” said Anne Mavity, executive director at MHP.
“We’re grateful to Drake Bank and the Member Impact Fund for supporting our ‘From Vacancy to Vibrancy’ initiative, which empowers resident-owned manufactured home communities to transform vacant lots into safe, affordable homes,” said Victoria Clark-West, executive director at Northcountry Cooperative Foundation. “This funding helps us strengthen resident-owned communities and advance housing equity across Minnesota and Wisconsin.”
Drake Bank is a purpose-driven, independent community bank in St. Paul. Founded in 2002, the Drake team focuses on building authentic relationships and building a better future for the local communities. Drake team members work individually with each client to provide business, consumer, cash management, and mortgage services to help them reach their goals. Start building a better future. Learn more at drake-bank.com.
