Federal Home Loan Bank of Indianapolis (FHLBI)

Welcome to the Bank! Meet our new hire:

It's #FlashbackFriday to earlier this month when we partnered with member Lincoln Financial for a Habitat for Humanity of Greater Fort Wayne house build in Huntington, Ind. Supporting affordable housing and community development is core to our mission, so we always welcome opportunities to work with those looking to build stable and prosperous communities. Thank you, Lincoln and Habitat GFW, for all you do!

Merchants Bank IN secured nearly $75,000 in our Elevate Small Business grant funds for four small businesses—the most of any of our members in 2024! “The equipment and certifications afforded to us by the Elevate Grant will allow us to continue to grow and meet the needs of our clients, especially those with more specific needs, such as aging individuals, pregnant and postpartum mothers, clients with disabilities, and those with or recovering from injuries,” said Jason Shaw, co-founder and trainer of Day Won Fitness. “We are very thankful for the support and guidance of Merchants Bank and the Federal Home Loan Bank of Indianapolis for supporting small businesses.” Read more about how Merchants Bank and our Elevate program are helping these small businesses here: https://bit.ly/40ePACA

The historic former Walter French Junior High School in south Lansing, Mich. is hard to ignore. Originally designed and built as a middle school, the Walter French school served students for more than 50 years before closing in 1981. Despite a brief stint as a charter school in the late ’90s, the building has mostly sat vacant as the years ticked by. But not for much longer, thanks to a $500,000 grant from FHLBank Indianapolis and the hard work of Capital Area Housing Partnership (CAHP), a Lansing-area nonprofit organization that works to revitalize neighborhoods by creating affordable housing options for low-income residents in the region. CAHP had a vision for what a new chapter in the building’s history could look like. Read how our Affordable Housing Program grants helped CAHP, through member Dart Bank, bridge the funding gap for this historic Lansing school: https://bit.ly/3Ycsee9

Breaking news! Today we announced an innovative program in partnership with Michigan State Housing Development Authority for low-income, first-time homebuyers in Michigan. It's called the MSHDA Rate Relief Mortgage Program, and it will be a game-changer for so many in today's challenging market. FHLBank Indianapolis is supporting the program by purchasing a $50 million MSHDA bond (Series F), allowing Bank members the opportunity to sell single-family mortgage loans to MSHDA at below-market rates. “Everyone should have the opportunity to own a home,” Cindy Konich, President and CEO of FHLBank Indianapolis, said. “That’s why the MSHDA Rate Relief Mortgage Program — and our growing partnership with MSHDA — is so important. It reflects our shared vision and values of providing affordable housing solutions, eliminates financing barriers, and opens the door to a brighter future for hundreds of first-time homebuyers in Michigan." The announcement was made today at MSHDA's offices in Lansing, Mich., and included comments by MSHDA CEO Amy (Joseph) Hovey, Michigan Lt. Gov. Garlin Gilchrist II (below left) and Dart Bank CEO Bill Hufnagel (right). Read our joint news release at https://bit.ly/48f3fvj. More information also is available on MSHDA's website, Michigan.gov/raterelief.

Welcome to the Bank! Meet our new hire:

Calling all members, have you heard about our MPP Rate Advantage Program? Launched in August, the program allows PFIs to fund mortgage loans to low-income borrowers and make the loans more affordable by offering below market Note rates. The program has seen extraordinary activity due to its value and simplicity, from lock through delivery. Interested? Don’t wait – our allotted funds are going fast! More information can be found here: https://bit.ly/3XuZJIk

Congratulations to Community Bankers of Michigan (CBM) on celebrating their 50th anniversary! Since its beginning in 1974, CBM has made community banking their mission by ensuring community banks have an equal voice and an equal place in the financial industry. Thank you for all you have done and will continue to do for community banking throughout Michigan!

Earlier this year, alongside Michigan State Housing Development Authority, we announced the start of the Tribal Nations Housing Development Assistance Program (TNHDAP) as an innovative capacity-building housing development grant program designed to support the 12 federally recognized tribal nations in Michigan in creating affordable housing solutions tailored to each community's unique needs. We're now thrilled to announce that a total of $800,000 is available through the program for project-specific pre-development grants of up to $75,000 each! Interested in learning more? Check out our latest press release: https://bit.ly/4eOcfdb

FHLBank Indianapolis and our fellow FHLBanks are proud to partner with our members to strengthen local economies. In total, FHLBanks funded $2.5 billion in economic development advances in 2023 alone. The Council of Federal Home Loan Banks' Impact Report showcases how we provided low-cost financing to our members in support of economic development. https://bit.ly/3VGlfJ8 #FHLBankImpact