(Harmony, Minnesota) – The Federal Home Loan Bank of Des Moines (FHLB Des Moines) is excited to announce that First Southeast Bank and Community & Economic Development Associates (CEDA) have been selected as one of seven Strong Communities Award finalists vying for the opportunity to receive $15,000.
FHLB Des Moines challenges communities to rally behind their community’s project during a public vote from October 5 – October 16 on Strengthening Communities Together™ at www.fhlbforcommunity.com/voting. The voting will serve as a component of the selection process to award a $15,000 stipend to support small business and economic development growth in their community.
FHLB Des Moines member First Southeast Bank partnered with CEDA to assist in the expansion of Harmony Enterprises, a major community employer. The efforts resulted in the creation and retention of 73 full-time jobs. The project also grew the city tax base, improved public infrastructure and impacted manufacturing in other surrounding communities.
The Strong Communities Award honors the projects, the people and the programs that promote small business growth and retention in their communities.
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The Federal Home Loan Bank of Des Moines is a member-owned cooperative that provides funding solutions and liquidity to nearly 1,500 financial institutions to support mortgage lending, economic development and affordable housing in their communities. Serving 13 states and three U.S. Pacific territories, 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. The Des Moines Bank is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.