IMCU awards $154,000 to local nonprofits through FHLbank Indianapolis

Indiana Members Credit Union (IMCU), central Indiana’s largest credit union, in collaboration with the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), awarded three nonprofit organizations $154,000 in grant funds through the Community Multiplier – Member Match program.

At the April 29 IMCU board meeting, IMCU and its board of directors presented checks to the following organizations:

• Helping Veterans and Families (HVAF) of Indiana Inc.
• Chin Community of Indiana (CCI)
• Burmese American Community Institute (BACI)

The $154,000 in grants will support these organizations with their career development, educational assistance, and supportive services programs for prospective homeowners.

“We are proud to partner with these nonprofit organizations and support their career and educational assistance programs for homeowners,” IMCU President and CEO John Newett said. “These programs will play a pivotal role in empowering prospective homeowners by providing them with the necessary resources and knowledge to achieve their homeownership dreams. We believe that by investing in these programs, we are not only helping individuals and families but also fostering a stronger, more vibrant community for everyone.”

The Community Multiplier – Member Match program is FHLBank Indianapolis’ newest program offering, designed to support targeted affordable housing initiatives that fall outside of FHLBank Indianapolis’ other grant programs. Community Multiplier offers grants between $25,000 and $125,000 for nonprofit organizations headquartered in Indiana or Michigan that partner with an FHLBank Indianapolis member financial institution on targeted affordable housing initiatives.

With a 10 percent matching funds commitment from the member financial institution, FHLBank Indianapolis is providing grants between $25,000 and $125,000. The program opened March 27 with a $5 million allocation and is available until Oct. 1, or until funds are exhausted.