Akiptan & GROW South Dakota each receive a grant from Federal Home Loan Bank of Des Moines and Wells Fargo through the Member Impact Fund

Grant program supports affordable housing and community development initiatives

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Photograph by McQuillen Creative

(Aberdeen, SD) (August 27, 2026)– Akiptan and GROW South Dakota are proud to announce that Wells Fargo and the Federal Home Loan Bank of Des Moines (FHLB Des Moines) have awarded them each a $175,000 grant from the Member Impact Fund. This matching grant program will result in FHLB Des Moines awarding over $12.9 million in funding to support affordable housing and community development in Alaska, South Dakota, Guam, and the Commonwealth of the Northern Mariana Islands.

Akiptan, a Native American Community Development Financial Institution (Native CDFI),

and GROW SD, a South Dakota statewide nonprofit, will use these funds to expand

economic opportunity for rural and tribal entrepreneurs statewide. Akiptan will use the funds to support the administrative and deployment operations of lending services across Indian Country. Agriculture is an underutilized economic driver in Indian Country, and its lending department supports growth, sustainability, and

opportunities for Native agriculture producers that serve the local economy.

GROW SD will use the funds to support administration of its lending programs, which

primarily serve low- and moderate-income (LMI) households in communities across South Dakota. Operating support for these programs is limited, making it challenging for GROW SD to fully advance its mission. This funding will address this gap by supporting the administration of down payment assistance, affordable housing, and small business loans, all of which promote homeownership and economic stability.

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, like Wells

Fargo, 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 organizations like, Akiptan and GROW South Dakota, 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 need 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. Notably, every eligible application submitted to the program has received funding—reflecting the organization’s strong commitment to partnership and impact.

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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.