Community Programs

FHLBank Indianapolis is proud to offer a variety of grant opportunities for affordable housing and economic development initiatives—and we've been doing it since 1990! In just the last 10 years, our Community Investment team has provided nearly $400 million in funding across our grant programs to support affordable housing and economic development initiatives throughout the district.

We've funded the construction of nearly 300 affordable housing projects, totaling more than 11,000 units. Through our homeownership programs, we've helped more than 2,500 households become first-time homeowners and funded modifications and repairs on over 5,000 homes. And our Elevate Small Business Program has supported the growth and development of 65 local businesses.

Affordable Housing Initiatives

FHLBank Indianapolis member financial institutions partner with local not-for-profit housing providers, economic development partners and housing developers to use our grants to build affordable housing.

Affordable

^{Pictured: A 2023 Neighborhood Impact Program recipient in Romulus, Michigan used NIP funds to update and replace siding on her family home.}

Affordable Housing Programs

Affordable Housing Program (AHP)

The Affordable Housing Program (AHP) consists of one annual round where projects compete for available funds.

Homeownership Opportunities Program

The Homeownership Opportunities Program (HOP) is a grant to help qualified first-time homebuyers with down payment, closing and housing counseling cost assistance.

Neighborhood Impact Program

The Neighborhood Impact Program (NIP) is a grant to assist qualified homeowners with deferred maintenance repairs.

HomeBoost Minority Down Payment Assistance Program

The HomeBoost Minority Down Payment Assistance Program provides down payment assistance to first-time minority homebuyers in Indiana and Michigan.

Community Development Initiatives

At FHLBank Indianapolis our main goal is to empower local leaders to build stronger and more resilient communities through sustained growth and economic development.

Development

^{Pictured: 2022 Elevate Small Business Grant recipient Brewery Faisan, a Detroit-based microbrewery and taproom.}

Community Development Programs

Elevate Small Business Program

Elevate is a small business grant program that assists the growth and development of small businesses, their workforce and the communities where they are located.

Community Investment Program (Advances & Letters of Credit)

The Community Investments Program (CIP) offers Advances and Letters of Credit a cost-efficient way for FHLBank Indianapolis members to borrow long-term funds to support local economic development.

Community Mentors

The FHLBank Indianapolis Community Mentors program is a community engagement and economic development leadership event hosted in partnership with FHLBank Indianapolis to help you make connections, stimulate thinking, and challenge conventional wisdom about community building.

Community Empowerment

Through our members, the Bank recognizes the need to not just partner with but also champion local leaders and the impact they have on their communities. That's why the Bank created two programs that seek to empower community leaders by strengthening and leveraging local knowledge and resources and by celebrating the difference these individuals make every day in their communities.

Community Catalyst Training Program

The Community Catalyst Training program is a two-part virtual training series that allows member institutions to learn from their peers across Indiana and Michigan on key strategies for successful participation in FHLBank Indianapolis' grant programs to increase affordable housing opportunities in their communities.

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Community Spirit Award

The Community Spirit Award recognizes an outstanding individual with a demonstrated commitment to improving their community. Community Spirit Award winners are strong advocates for affordable housing and economic development who work to foster diverse, equitable and inclusive communities. Alongside the recognition, FHLBank Indianapolis will make a donation in the recipient's honor to a nonprofit organization or charity of their choice.

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News

Public Announcements FHLBank Indianapolis announces new Tribal Nations Housing Development Assistance Program FHLBank Indianapolis has partnered with the Michigan State Housing Development Authority to launch the Tribal Nations Housing Development Assistance Program. The program aims to build on tribal nations' existing capacity and provide resources to develop affordable housing programs.

Community Investments FHLBank Indianapolis awards $15.12 million in Affordable Housing Program grants The Federal Home Loan Bank of Indianapolis has awarded $15.12 million in affordable housing grants to 32 affordable housing developments in Indiana, Michigan and Kentucky through the Bank's 2023 Affordable Housing Program (AHP). These AHP grants of up to $600,000 w

Member Announcements FHLBank Indianapolis announces 2023 Community Spirit Award winners FHLBank of Indianapolis has awarded the 2023 Community Spirit Award to Susan Ruch, Small Business Banker at The Farmers Bank in Frankfort, Ind., and Michelle LaClair-Ziembo, Human Resources Manager at United Bay Community Credit Union in Bay City, Mich.

Community Investments FHLBank Indianapolis increases HomeBoost allocation to $2.5 million In an effort to help make homeownership more equitable in Indiana and Michigan, the Federal Home Loan Bank of Indianapolis has allocated $2 million in additional funds for the Bank's pilot HomeBoost minority down payment assistance program.

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