Neighborhood Finance Corp., a not-for-profit mortgage bank that provides lending programs and other services to facilitate neighborhood revitalization in Des Moines, recently joined the Federal Home Loan Bank (FHLB) of Des Moines as its first non-depository community development financial institution (CDFI). 

In January, the Federal Housing Finance Agency authorized qualifying CDFIs to become FHLB bank members. In the past, Neighborhood Finance has received funding through the bank’s competitive grant program. Becoming a FHLB member will provide access to additional sources of funds, said Holly Olson, NFC’s executive director.