The Federal Home Loan Bank of Des Moines (FHLB Des Moines) announced that F&M Community Bank of Chatfield and Community and Economic Development Associates (CEDA) have been selected as one of six Strong Communities Award finalists vying for the opportunity to receive $15,000.
FHLB Des Moines challenges communities to rally behind their community’s project during a public vote from now through Aug. 1 on Strengthening Communities Together™ at www.fhlbforcommunity.com.
The finalist receiving the most votes will be awarded a $15,000 stipend to support small business and economic development growth in their community.
F&M Community Bank, a FHLB Des Moines member, teamed up with CEDA to retain and expand an industrial project in Chatfield. Together, with other community partners, they prevented one of the community’s largest industrial employers, EZ Fabricating, from relocating operations by financing construction and public improvement costs.
The retention of EZ Fabricating has created new full-time jobs, grown the tax base and helped create a revolving loan fund for future projects.
The Strong Communities Award honors the projects, the people and the programs that promote small business growth and retention in their communities.