Over $200,000 provided to nonprofits through Federal Home Loan Bank of Indianapolis Community Multiplier Program
Mercantile Bank is proud to announce its participation in the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) Community Multiplier program, resulting in over $200,000 in grant funding awarded to six nonprofit organizations across the state supporting affordable housing projects.
This partnership reflects the Bank’s deep and ongoing commitment to the communities it serves. By working hand-in-hand with nonprofits and FHLBank Indianapolis, Mercantile Bank is helping expand access to affordable housing for individuals and families throughout Michigan. “At Mercantile Bank, we believe that accessible housing is fundamental to thriving communities,” said Ray Reitsma, President and CEO of Mercantile Bank. “We’re proud to support these projects that will create real, lasting impact for people across the state. Our partnership with FHLBank Indianapolis underscores our commitment to meeting local needs with local solutions.”
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The grants will support various initiatives, from homebuyer education and supportive services to transitional and permanent housing, tailored to meet the diverse needs of communities across five regions. Nonprofit partners include:
- ICCF Community Homes – Grand Rapids
- Safe Haven Ministries – Grand Rapids
- Kalamazoo Neighborhood Housing Services– Kalamazoo
- Capital Area Housing Partnership – Lansing
- Community Housing Network – Troy/Macomb
- Northwest Michigan Action Agency – Cadillac/Traverse City/Petoskey
Each nonprofit partner was selected for its dedication to expanding housing access and improving quality of life in its area.
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“Our work with these nonprofits goes beyond funding,” said Sonali Allen, SVP, Community Development Officer at Mercantile Bank. “We’re building partnerships with these nonprofits that include financial education and support services to help individuals and families not only find housing but enhance the tools they need to maintain long-term stability and independence.”
The Community Multiplier program enables member banks to amplify the reach of their community investments, leveraging the power of collaboration to maximize local impact. With a 10% matching funds commitment from Mercantile Bank, FHLBank Indianapolis provides grants between $25,000 and $125,000 for targeted affordable housing initiatives. “We’re proud to partner with Mercantile in providing needed capital to housing-focused nonprofit organizations across Michigan,” said MaryBeth Wott, SVP Community Investment and Strategic Planning Officer. “Together, we’re working to provide flexible support that meets housing needs at the community level.”
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As a community bank, Mercantile Bank remains committed to delivering solutions that support housing equity, financial empowerment, and stronger communities across the state.
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Source – prnewswire
