COLMAN – BankWest, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that the City of Colman, Colman Fire & Rescue and the Colman-Egan School District will receive a total of $35,000 in grant funding from the Member Impact Fund. This matching grant program will result in BankWest and FHLB Des Moines awarding $700,000 in funding to support affordable housing and community development in South Dakota communities.
“We’re proud to invest in organizations that are meeting real needs in our community. By partnering with FHLB Des Moines, we’re able to extend our impact and support projects that help Colman grow and thrive,” said Tanner DeKam, BankWest’s Branch Manager in Colman.
BankWest applied for and received matching grant funds for the following projects:
The City of Colman ($12.250): Adding a movie screen to the outdoor pool, plant new trees to replace ones lost due to the ash borer, new playground equipment for the city park/campground
The Colman-Egan School District ($14,000) – Purchasing new choir robes.
Colman Fire and Rescue-Volunteer Fire Department ($8,750) – Acquiring new handheld radios and pagers, gear and rescue equipment.
“This funding helps us enhance spaces where families and neighbors come together. We’re grateful to BankWest and FHLB Des Moines for investing in projects that improve our parks, pool and public spaces and help keep Colman a welcoming place to live,” said Colman Mayor Mike Preheim.
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 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 is designed to help our members champion the organizations that make a real difference in their communities,” said Kris Williams, president and CEO of FHLB Des Moines. “By partnering with our members, we’re able to multiply resources and support their vital work as they continue to strengthen opportunities for the people they serve.”
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.
Since its launch in 2023, the Member Impact Fund has provided more than $83 million in grants from FHLB Des Moines, generating over $113 million in combined support for affordable housing and community development.
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