ALERUS FINANCIAL CORPORATION GRAND FORKS, N.D. (April 23, 2024) - Alerus, in partnership with Federal Home Loan Bank of Des Moines, is pleased to announce the Grand Forks Children's Museum will receive a $50,000 grant from the FHLB Des Moines Member Impact Fund. The Member Impact Fund provides $3 for every $1 of an eligible FHLB Des Moines member's grant donation to strengthen the ability of nonprofits or government entities to serve the affordable housing or community development needs of their communities. Awards are given in partnership with member financial institutions with a goal of making their communities more vibrant places to live and work.
"Alerus has a long history of supporting our communities and projects that improve the quality of life for the region's residents," said Chris Wolf, market president and commercial banking executive at Alerus. "The Grand Forks Children's Museum will provide year-round amenities for families and educational opportunities for children from throughout the region, making it a great fit for our community development focus. We're proud to provide our support in partnership with FHLB Des Moines, and we're excited to watch this project come to fruition, which will have a long-term positive impact on our community."
Grant funds will be used by the organization to develop programming that celebrates local culture and history through interactive learning, develops partnerships with multi-generational knowledge sharing, and is accessible to underserved populations. Some programming may take place prior to the building's anticipated groundbreaking in spring 2025.
"We are extremely thankful to Alerus and Federal Home Loan Bank of Des Moines for their support," said Grand Forks Children's Museum Executive Director Katie Mayer. "This generous gift demonstrates their commitment to investing in our region and the future generations of our community."
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.
About Alerus
Alerus (Alerus Financial, N.A.) is a commercial wealth bank and national retirement services provider that delivers diversified and comprehensive financial solutions to businesses and consumers, including banking, wealth services, and retirement and benefits plans and services. Our purpose is to help clients achieve theirs. We accomplish this by providing personalized service and the right products at the right times to help them achieve their immediate and long-term goals.
Alerus has banking and wealth offices in Grand Forks and Fargo, North Dakota, the Minneapolis-St. Paul, Minnesota metropolitan area, and Phoenix and Scottsdale, Arizona. Alerus Retirement and Benefits serves advisors, brokers, employers, and plan participants across the United States.
About Federal Home Loan Bank of Des Moines
The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with over 1,200 member institutions to support affordable housing, economic development and community improvement.
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. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.
About the Grand Forks Children's Museum
Through community philanthropy, naming opportunities and grant funding, the Grand Forks Children's Museum capital campaign committee plans to raise $50 million dollars to build a Grand Forks Children's Museum and Destination Playground. The Children's Museum will be housed in an iconic building located along S. Washington Street, next to Choice Health & Fitness, and the inclusive Destination Playground located just a few steps away on Park District land, providing a fun attraction and resource for our region's residents and an attractive amenity for tourism. The Grand Forks Children's Museum will deliver an interactive learning experience by highlighting our regional industries and resources through STEAM-based exhibits, while the Destination Playground will provide an imaginative and inclusive year-round play experience for all to enjoy. For more information regarding the project visit GrandForksChildrensMuseum.com
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Alerus Financial Corporation published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2024 22:03:07 UTC.
