North Star Mutual partners with Federal Home Loan Bank of Des Moines to award $100,000 to the Cottonwood Area Community Foundation through Member Impact Fund.
(COTTONWOOD, MN, June 26, 2025) – North Star Mutual Insurance Company, in partnership with Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce that Cottonwood Area Community Foundation will receive a $75,000 grant from the Member Impact Fund, in addition to a $25,000 pledge from North Star Mutual. This matching grant program will result in a $100,000 donation to the Cottonwood Area Community Foundation. Overall, FHLB Des Moines is awarding $20 million in funding through its Member Impact Fund to support affordable housing and community development in Minnesota.
“North Star Mutual is proud to support the Cottonwood Area Community Foundation through the Southwest Initiative Fund,” said Pete Hellie, President and CEO of North Star Mutual. “Our support this year has been generously matched by the Federal Home Loan Bank through our membership with their organization. The FHLB Member Impact Fund Shows their commitment to the communities they serve, and we are thankful for their support of our community through this program.”
North Star has been a proud partner of Cottonwood Area Community Foundation since 2020. Together, they have been dedicated to improving their surrounding community through community development initiatives.
The Cottonwood Area Community Foundation was established in 2019 as a partnership with the Southwest Initiative Foundation as a permanent endowment to help fund future needs and opportunities in the community of Cottonwood, Minnesota. Earnings from the fund are given as grants to support nonprofit projects or programs in the area that work to improve community development and quality of life.
“The Foundation thanks North Star for the donation of $25,000 and the Federal Home Loan Bank of Des Moines for the triple matching gift of $75,000,” said Linda Dieken, head of the Cottonwood Area Community Foundation. “The funds will be used for Lakeside Park improvements, which includes a Splash Pad project. Because of generous grants such as these, our Foundation can continue to fulfill our goal of funding the needs and opportunities in the Cottonwood community.”
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 up to $3 for every $1 in 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 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.