Alerus partners with Federal Home Loan Bank of Des Moines to award $10,000 to Three Rivers Community Action

ROCHESTER, MINNESOTA (June 16, 2025) – Alerus, in partnership with Federal Home Loan Bank of Des Moines, is pleased to announce Three Rivers Community Action will receive a $10,000 grant from the FHLB Des Moines Member Impact Fund. The donation will support the organization’s Achieve Homeownership program and the first-time homebuyer education classes it provides at no cost to participants.

“Alerus has a long history of supporting its communities and initiatives that make a lasting impact in the quality of life for everyone, and Three Rivers Community Action checks all the boxes,” Joe Langel, southern Minnesota president and business banking director at Alerus. “The Achieve Homeownership program has provided education and assistance to thousands of people in our region over the years. It’s also been a valuable resource for our mortgage team in helping clients achieve their homeownership goals, so we know firsthand the benefits this program has provided for many households. We’re excited to partner with FHLB to support the program and its services, which will have a positive impact for many future homeowners.”

The Member Impact Fund provides FHLB Des Moines members up to $3 for every $1 in matching grant donations to strengthen the ability of nonprofits or government entities to support their communities. 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.

“Our Achieve Homeownership Program has been community driven since its inception in 2008, so community support is vital for the continued success of our Achieve team,” said Courtney Dugstad, chief operating officer at Three Rivers Community Action. “We know that a key to a home is more than just four walls; it’s a child who can attend the same school throughout their education and build strong friendships, it’s neighbors who can build rooted community, and it’s a safety net for all of life’s ups and downs. Since our beginnings, we have helped bridge the gap in homeownership by serving over 600 households in purchasing homes — almost 80% of those identified as BIPOC — through education, one-on-one advising, mentorship, and down payment assistance. We know home ownership is one of the fastest and most sustainable ways to build generational wealth, and we are so incredibly excited to accept this gift to support our growth and ability to continue serving families with the resources, knowledge, and mentorship that can support first-time and first-generation homeownership. We know the whole community thrives when its members are able to grow roots!

This member matching grant program was open only to organizations based in Minnesota and 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.

About Alerus

Alerus (Alerus Financial, N.A.) is a commercial wealth bank and national retirement services provider that delivers diversified and comprehensive financial solutions to businesses and consumers, including banking, wealth services, and retirement and benefits plans and services. Our purpose is to help clients achieve theirs. We accomplish this by providing personalized service and the right products at the right times to help them achieve their immediate and long-term goals.

Alerus operates 29 banking and wealth offices, with locations in Grand Forks and Fargo, North Dakota; the Minneapolis-St. Paul, Minnesota metropolitan area; Rochester, Minnesota; the southern Minnesota area; Marshalltown, Iowa; Pewaukee, Wisconsin; and Phoenix and Scottsdale, Arizona. Alerus also operates a commercial wealth office in La Crosse, Wisconsin. Alerus Retirement and Benefits serves advisors, brokers, employers, and plan participants across the United States.

About Three Rivers Community Action

Three Rivers Community Action is a nonprofit human service organization created by local citizens and incorporated in 1966. Three Rivers is an agent of change within the community, paving the way for understanding and acceptance, serving over 17,000 people each year in southeastern Minnesota. Three Rivers supports individuals and families overcome challenges with homeownership, transportation, access to education, and more.  For more information, visit threeriverscap.org

About Federal Home Loan Bank of Des Moines

The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with over 1,200 member institutions to support affordable housing, economic development and community improvement.

FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.