Federal Home Loan Bank of Indianapolis (FHLBI)

Member Everwise Credit Union of South Bend, Ind., sponsored the applications of two Elevate Grant recipients: CrossFit South Bend and ROCKaBLOCK in Merrillville, Ind., totaling nearly $40,000 in funds for these small businesses. “The Elevate Small Business Grant means so much to me and my business. It lets me know that what I'm doing as a business owner matters and that people want to see me succeed," said Rockland Page, owner of ROCKaBLOCK. "The funds from the grant will help ROCKaBLOCK purchase much needed screen-printing equipment, increase production capacity, and improve product quality.” Read more about these two businesses here: https://bit.ly/3XKlgNf

The final in-person training session for our Tribal Housing Development Assistance Program is underway, hosted by the Saginaw Chippewa Indian Tribe of Michigan. Leaders from Michigan's 12 federally recognized tribal nations met with leading industry professionals, stakeholders and community partners to expand knowledge and strategize homeownership solutions tailored to meet the unique needs of Native communities. Our own, Anna Shires, VP Community Investment Outreach Partner, moderated a panel discussion featuring our member Central Savings Bank, Fannie Mae, Freddie Mac and Michigan State Housing Development Authority on homeownership-focused initiatives and programs, including down payment assistance, lending and financing options unique to these communities. We were thrilled to have our member financial institutions Isabella Bank, Lake Trust Credit Union and Mercantile Bank join us to learn from the panel and meet with tribal participants. Thanks to all who came out! This marks the end of the in-person training sessions for 2024, but stay tuned for more exciting announcements next week! This is just the beginning of what’s to come! https://bit.ly/3XOqOWR

We're coming to a location near you! Meet our Talent Acquisition team at these upcoming October events and learn about the many positions available at our Bank and why we love working here! 📅 Rose-Hulman Institute of Technology – 10 a.m. - 3 p.m. Oct. 2 at the 2024 Fall Career Fair 📅 Central State University – 1 - 4 p.m. Oct. 16 at the College of Business Career Expo Week 📅 Indianapolis Urban League – Noon - 4 p.m. Oct. 23 at the Fall Career Fair 📅 Kentucky State University – 1 - 3:30 p.m. Oct. 24 at the Fall 2024 Career and Graduate School Fair Find out more about a career at the Bank here: https://bit.ly/4dS1DcH

Supporting affording housing across our district of Indiana and Michigan is a key pillar in our company mission. Recently, we had the privilege to share one of our many success stories with U.S. Rep. Erin Houchin during a tour of a rehabilitated senior housing project in Sunman, Ind. Representing the state's 9th District, Houchin saw first-hand how our AHP grant, in partnership with member Friendship State Bank, helped dramatically improve the quality of life at Raintree Terrace Apartments. Watch our video to learn more!

Last week, over 30 employees took a bus to Grand Rapids, Mich., for a volunteer trip organized by our FHLBank Indy Cares team, and the whole two-day experience was a huge hit! Our team partnered with employees from member institutions Mercantile Bank and ChoiceOne Bank to volunteer at Home Repair Services, an organization that provides critical repairs, inspections, accessibility modification, financial counseling and more for Kent County homeowners. They learned about the ins and outs of the organization and spent time building ramps for households in need of better accessibility as well as building cabinets stools and boxes for Home Repair Services to distribute to households in need. Thank you to all who came out and for our wonderful host, Home Repair Services of Kent County for everything you do!

Have you heard about our new CDFI Rate Buydown Advance? This new program is designed to help non-depository Community Development Financial Institutions (CDFIs) support housing and economic development in the most underserved areas. The advance rate can be bought down to as low as 0%! The program will launch Oct. 9 with a $5 million allocation. Interested in learning more? We are hosting an introductory training webinar to review program design and requirements at 11 a.m. Oct. 1. Join us and learn more about this exciting new program: https://bit.ly/3TEEgvc

See what our members are saying about our Rate Advantage Program, a program intended to encourage PFIs to fund mortgage loans to low-income borrowers and make the loans more affordable by offering below market Note rates. “(Rate Advantage) is such a straightforward and easy program to take advantage of and is making housing payments so much more affordable for our borrowers,” said Josh Summerfield of Consumers Credit Union in Kalamazoo, Michigan. “We always want to help with affordable lending and this program is a perfect fit, being simple to execute from lock thru delivery!” Interested? Don’t wait – we expect these additional funds will go fast! More information can be found here: https://bit.ly/3XuZJIk

Our member Limestone Federal Credit Union in Manistique, Mich. helped their local coffee shop, The Grind Coffee House, secure nearly $20,000 in our Elevate Small Business grant program! The funds will be used to add an additional espresso machine and improve the seating area for guests. “Limestone Federal Credit Union is thrilled to see our local business community benefit from our membership in the Federal Home Loan Bank," said Jennifer C. Watson, chief executive officer, at Limestone Federal Credit Union. "Supporting the growth and success of the communities we serve is at the core of what we do." Read more here: https://bit.ly/3BghTWE

Did you know? The FHLBanks offer a range of liquidity products, including advances, letters of credit (LOCs), and Acquired Member Assets (AMA) programs. How does it work? FHLBank advances (loans) represent the primary source of liquidity provided to members and account for the largest dollar value of liquidity products. LOCs and AMA programs offer alternative sources of liquidity and are countercyclical; their percentage share of liquidity products grows as the share of advances decline. Learn more here: https://bit.ly/3Tw1u6K

Good news! After heavy demand in its initial rollout, we have added an additional $3 million to our Rate Advantage Program, a program intended to encourage PFIs to fund mortgage loans to low-income borrowers and make the loans more affordable by offering below market Note rates. The same terms, including $10,000 per loan, remain in place. However, there is no PFI cap, meaning this $3 million will be provided on a first-come, first-served basis and you are not limited in how many loans you can sell into the program using these funds. Interested? Don’t wait – we expect these additional funds will go fast! More information can be found here: https://bit.ly/3XuZJIk