Federal Home Loan Bank of Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank (FHLBank) System. Established by Congress in 1932 to support mortgage lending, the FHLBanks are a stable source of funding for more than 7,300 federally insured depository institutions of all sizes and types.
Regulated by the Federal Housing Finance Agency, the FHLBanks are cooperatively owned by their members, operate independently with their own boards of directors and are registered with the Securities and Exchange Commission. The FHLB Des Moines district includes 13 states and three U.S. Pacific Territories.
FHLB Des Moines members benefit from access to a variety of products and services designed to help lower their funding costs, mitigate risk, improve asset and liability management and meet community credit needs. In addition, FHLB Des Moines contributes 10 percent of its net income each year to affordable housing programs. Grants are awarded to help meet the housing needs of low- to moderate-income individuals and families. The use of these funds also positively impacts job growth and economic development throughout the FHLB Des Moines district.