Sterling State Bank partners with Federal Home Loan Bank to award $28,000 grant to 360 Communities through Member Impact Fund
06/17/2025
LAKEVILLE, MN – Sterling State Bank is pleased to announce that a joint grant application on behalf of 360 Communities for $28,000 has been approved by the Federal Home Loan Bank of Des Moines.
“We are grateful to have community partners in Sterling State Bank and Federal Home Loan Bank that are committed to investing in their neighbors in Dakota County,” said 360 Communities President & CEO Jeff Mortensen. “This is just one of many examples of Sterling State Bank’s generosity and support for the communities where they do business. We will use these funds to deliver safety and stability that improves lives.”
This donation is expected to support crucial 360 Communities services across a number of key areas including housing intervention and support services, food shelves, child care, and violence prevention & intervention resources such as the Lewis House which provides emergency housing and assistance to families and individuals escaping domestic violence.
Sterling State Bank has a long history of partnering with and supporting 360 Communities and the Bank is honored to have submitted the grant application on their behalf.
“The work that 360 Communities and their incredible staff do in our community every day makes a profound difference in the lives of countless people in need,” Sterling State Bank Executive Vice President Tyler Coleman stated, “ As a Community Bank we are proud to support such a wonderful organization and contribute in a very small way to their ongoing success. This has been a longstanding and wonderful partnership for us.”
“The Member Impact Fund continues to be a powerful resource in supporting our members as they expand access to affordable housing and drive community development,” says Kris Williams, president and CEO of FHLB Des Moines. “It’s inspiring to see the partnerships centered around improving local communities in such a variety of ways.”
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.
This member matching grant program is part of FHLB Des Moines’ ongoing mission to offer a variety of funding options through its members.
Since its founding in 2023, the Member Impact Fund has supported affordable housing and community development with nearly $70 million in grants awarded by FHLB Des Moines. Member institutions apply and receive Member Impact Fund matching grants to be distributed to eligible organizations alongside their own grant contribution.
About Sterling State Bank
Sterling State Bank is a Minnesota community Bank headquartered in Rochester, MN with branches in Apple Valley, Lakeville, Savage, Rochester and Austin, MN. Founded in 1958, Sterling State provides a full range of banking services to non-profits, commercial customers and customers.
To learn more about Sterling State Bank, the banking products we offer and our history, please visit www.sterlingstate.bank.
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.