First Bank of Montana grants $10,000 to Bear Paw Development

Press release

First Bank of Montana, in partnership with Federal Home Loan Bank of Des Moines, announced that Bear Paw Development Corp. received a $10,000 grant from the FHLB Des Moines Member Impact Fund and First Bank of Montana.

FHLB Des Moines provides funding solutions and liquidity 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 $3 for every $1 of an eligible FHLB Des Moines member's grant donation to strengthen the ability of not-for-profits or government entities to serve the affordable housing or community development needs of their communities. The Member Impact Fund awards are given in partnership with member financial institutions to communities in their districts to become more vibrant places to live and work. This is the second year that FHLB Des Moines offered the Member Impact Fund, which is designed for members to directly strengthen communities within targeted areas in its district.

"Bear Paw Development has served in our surrounding communities by improving economic and community needs for several years," First Bank of Montana's Branch Manager Orry Fruit said. "First Bank of Montana has been fortunate to partner with Bear Paw on projects within our community. We are pleased to be able to continue supporting them with this donation."

Bear Paw Development Corporation administers programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau, and Phillips Counties in Montana. Their mission is to be the most responsive and relevant non-profit economic and community development organization in Montana, focusing on their five-county, two-reservation region of northern Montana.

These funds will be used in Bear Paw Development's Community Development Department, which provides local and tribal governments with grant writing and administration support, as well as assisting with project development. The Member Impact Fund investment will continue to assure that Bear Paw Development has the necessary capacity to help local governments with their infrastructure needs, including drinking water and wastewater systems, bridges and other amenities that create economically resilient communities that are great places to live, work, raise a family and build a business.

"We are very grateful for this significant investment in our organization and the partnership with First Bank of Montana that recognizes the importance of strong communities, vibrant Main Streets and an economy that works for those of us in rural Montana," Bear Paw Development Executive Director Paul Tuss said.

First Bank of Montana, in partnership with the FHLB, donated $420,000 to 13 non-profit organizations across its Central Montana footprint.

In addition to First Bank of Montana's participation in this program, all Montana divisions of Glacier Bank, in partnership with the FHLB, donated $2,048,600 to 100 non-profit organizations and government entities across the state of Montana.

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 training, predevelopment assistance, management information systems or software, strategic planning, market study or community needs assessment, and working capital.

The Member Impact Fund is part of FHLB Des Moines' ongoing mission to offer a variety of funding options through its members to support affordable housing and community development needs.

"We are thrilled to see grants from our Member Impact Fund having a direct, positive impact on the communities in which our members help advance affordable housing and community development needs in a meaningful way," President and CEO of FHLB Des Moines Kris Williams said.