Federal Home Loan Bank of Des Moines

The Federal Home Loan Bank of Des Moines (FHLB Des Moines) is a wholesale bank that provides low-cost, short- and long-term funding and community development products and services to over 1,350 member financial institutions in 13 states and three U.S. Pacific territories. The Bank is wholly owned by its members and receives no taxpayer funding. FHLB Des Moines is one of 11 regional Federal Home Loan Banks that make up the Federal Home Loan Bank System. Federal Home Loan Bank of Des Moines review on this site globesthing.com

Federal Home Loan Bank of Des Moines

The Bank does this by providing a variety of products and services, including:

Products and Services

  • Advances: Advances are short- and long-term loans that FHLB Des Moines makes to its members. Members use advances to fund a variety of activities, such as mortgages, home improvement loans, and small business loans.
  • Letters of credit: Letters of credit are financial guarantees that FHLB Des Moines issues to its members. Members use letters of credit to secure financing from other lenders and to support their business operations.
  • Community development products and services: FHLB Des Moines offers a variety of community development products and services to its members. These product and service are designed to help member support affordable housing, economic development, and community revitalization in their communitie.

FHLB Des Moines is a vital part of the financial system in the region it serves. The Bank’s products and services help its members to meet the needs of their customers and to support the economic development of their communities.

Benefits of membership in FHLB Des Moines

FHLB Des Moines offers a number of benefits to its members, including:

  • Access to low-cost funding: FHLB Des Moines advance are typically price lower than other source of fund, which can help members to reduce their costs and offer more competitive rate to their customer.
  • Diversified funding sources: FHLB Des Moines advances can provide members with a diversified source of funding, which can help to mitigate risk and improve financial stability.
  • Access to community development products and services: FHLB Des Moines offers a variety of community development products and services that can help members to support affordable housing, economic development, and community revitalization in their communities.
  • Expertise and support: FHLB Des Moines has a team of experienced professionals who can provide members with expertise and support on a variety of topics, including housing finance, community development, and financial risk management.

How to become a member of FHLB Des Moines

To become a member of FHLB Des Moines, a financial institution must be a depository institution that is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA). The institution must also be located in one of the 13 states or three U.S. Pacific territories that is serve by FHLB Des Moines.

To apply for membership, financial institutions can visit the FHLB Des Moines website and download a membership application. The application process is relatively straightforward and can be complete in a short period of time.

To apply for membership in FHLB Des Moines

  • Download the membership application from the FHLB Des Moines website.
  • Complete the application and provide all required documentation.
  • Submit the application to FHLB Des Moines.

The application process is relatively straightforward and can be completed in a short period of time. The following documentation is typically required:

  • Proof of charter: This can be a copy of the financial institution’s charter from the appropriate regulatory agency.
  • Proof of FDIC or NCUA insurance: This can be a copy of the financial institution’s FDIC or NCUA insurance certificate.
  • Proof of ownership: This can be a copy of the financial institution’s ownership structure.
  • Financial statements: The financial institution must provide FHLB Des Moines with its most recent financial statements.

Once FHLB Des Moines receives the application, the Bank will review it and determine whether to approve the financial institution for membership. If the financial institution is approved, FHLB Des Moines will send the financial institution a membership agreement. The financial institution must then sign and return the membership agreement to FHLB Des Moines.

Once the financial institution has signed and returned the membership agreement, it will become a member of FHLB Des Moines. Members can then begin to access FHLB Des Moines’ products and services.

Conclusion

FHLB Des Moines is a valuable resource for financial institutions in the region it serves. The Bank’s products and services can help members to meet the needs of their customers, to reduce costs, and to support the economic development of their communities. If you are a financial institution that is interested in learning more about membership in FHLB Des Moines, I encourage you to visit the Bank website or to contact a member of the Bank team.

FAQ’s:

Q: What is FHLB Des Moines?

FHLB Des Moines is a member-owned cooperative that provides funding solutions and liquidity to more than 1,350 members to support mortgage lending, economic development and affordable housing in the communities they serve.

Q: Where can I learn more about FHLB Des Moines?

You can learn more about FHLB Des Moines by visiting the Bank’s website or by contacting a member of the Bank’s team.

Q: What are the costs of membership in FHLB Des Moines?

The costs of membership in FHLB Des Moines vary depending on the size and type of financial institution. However, the costs are typically very modest.

Q: How can I access FHLB Des Moines products and services?

To access FHLB Des Moines products and services, financial institutions must first become members of the Bank. Once a financial institution is a member, it can access FHLB Des Moines products and services by contacting the Bank’s team.