RAPID CITY, SD – Black Hills Community Bank, in partnership with Federal Home Loan Bank of Des Moines (FHLB), is pleased to announce that several non-profit organizations in Rapid City and Spearfish will receive a total of $700,000, through the Member Impact Fund. The program provides matching grants to support affordable housing and community development. FHLB awarded over $12.9 million across five states and US territories, including South Dakota.

“Black Hills Community Bank is committed to investing in Rapid City and Spearfish, and we are proud to support nonprofits that strengthen our communities,” said Jack Lynass, CEO and President of Black Hills Community Bank. “Supporting our communities is a cornerstone of who we are. We are grateful to FHLB Des Moines for helping us invest $700,000 this year to the communities we are privileged to serve.”

The $700,000 includes $200,000 in direct donations from Black Hills Community Bank, matched at a 2.5:1 ratio by FHLB for an additional $500,000. FHLB supports over 1,200 members with funding for mortgage lending, economic development and affordable housing “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 member banks, such as Black Hills Community Bank, we’re able to multiply resources and support their vital work as they continue to strengthen opportunities for the people they serve.”

Recipients were selected based on their need for funding to increase capacity or provide working capital for programs supporting affordable housing and community development, including job training, financial literacy, food banks and youth programs.