On a recent Saturday, 25 associates of Iowa State Bank put their philosophy of community reinvestment into practice. Perhaps a bit leery of what they were getting into, they descended upon a construction site on McCormick Street on Des Moines’ East Side.

They didn’t look like bankers that morning; a trust and investment officer wore jeans, a T-shirt and a puzzled look. By day’s end, they looked even less like bankers and more like Sheetrock mudders. But the puzzled looks were replaced by broad smiles. And the pains in their muscles were offset by the warmth in their hearts.

Mary Bybee from financial services remarked: “We had a really good time, strengthened our friendships outside our office roles, and helped a family in need what a great day.”    That Saturday was a volunteer work day with Greater Des Moines Habitat for Humanity. Iowa State Bank was a sponsor of the house being built that day.

Greater Des Moines Habitat partners with faith-based groups, businesses and individuals to construct affordable housing for low-income families throughout the metropolitan area. The houses are then sold to qualified families at the value of the materials without charge for labor or allowance for profit. To further ensure the affordability of the project, Habitat becomes the family’s mortgage banker, writing a 20-year note at zero interest.

At Iowa State Bank, we have earned the Federal Deposit Insurance Corp.’s designation of “outstanding” for our community reinvestment yearly since 1995. Partnering with Greater Des Moines Habitat is one of the many ways we do this, and the return on investment is unique.

The folks at Habitat are fond of saying that their mission is “not only a moral imperative, but sound economic development as well.” We agree.

A recent study indicates that 25,000 families in Polk County are in housing they can’t afford or inadequate housing. These are working families who cannot achieve homeownership in this market, even though many have two incomes. Everything we do to assist those families comes back to the community with multipliers.

The sponsorship dollars go directly into the local economy to purchase materials for the house. The professional labor required for code compliance comes from local sources, creating local jobs. When complete, the home turns vacant land into a property-tax generator. In fact, in 2003, Greater Des Moines Habitat homes paid $20,000 in property taxes. And that is just the short term.

As we look to grow the local economy, a stable and secure workforce is essential. Homeownership to a large extent defines that stability. And then of course you can look generations down the line.

If we apply “Is it good for the kids?” litmus test, the answer is a resounding “Yes.” Economists are increasingly looking at the cost of child care as an economic investment with a measurable long-term return. Acknowledging that child care begins at home, the age-old wisdom of “a good education begins at home” takes on an element of economic development as well.

My friend Mark Elliott, director of development at Greater Des Moines Habitat, jokes with me that I am helping the competition when I help build a house for which Habitat becomes the mortgage banker. However, we both know that studies indicate that when the children of these families grow up, they will be able to come to a banker for their first home loan, and I’ll be happy to serve them. For me, it is an investment in my bank’s future.

For all these reasons – moral and economic alike – Iowa State Bank is proud to sponsor Habitat houses in Des Moines. And as Mary Bybee said, it’s fun, too.

Stephen Henry is the president of Iowa State Bank.