Southern Minnesota Initiative Foundation Receives $14,000 Donation from FB&T in Partnership with Federal Home Loan Bank of Des Moines

Frandsen Bank & Trust, in partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), is pleased to announce a $14,000 donation to the Southern Minnesota Initiative Foundation (SMIF).

“We’re proud to support the work of the foundation, whose dedication to supporting economic development in our local community aligns closely with our own mission,” says Dan Scheffler, Frandsen Bank Dundas bank president. “Partnering with FHLB Des Moines through the Member Impact Fund allows us to increase our support and help build thriving communities across southern Minnesota."

The $14,000 donation will help SMIF continue its work supporting small businesses through business financing, training, and one-on-one support. Market leaders from Lonsdale, Mankato, Montgomery, New Ulm, Pine Island, Waterville, and Zumbrota joined Scheffler in contributing to the match program, as the work supports the entire region.

“We are honored to receive this donation which will make a significant impact on economic development and community vitality in southern Minnesota,” says Benya Kraus, SMIF president and CEO.

This increased contribution is made possible through the Member Impact Fund, a grant program from FHLB Des Moines that matches up to $3 for every $1 donated by member organizations, like Frandsen Bank. The program is designed to strengthen the ability of not-for-profits or government entities to support the needs of their local communities.