News

FHLBank Indianapolis recently announced that 11 Indiana and Michigan businesses were awarded the bank’s Elevate Small Business grant. 2018 was the inaugural year for the Elevate program, which saw more than 92 small businesses partner with local financial institutions to compete for grants of up to $25,000 each to use towards capital expenditures, workforce training, and other business needs.

On July 26, FHLBank Indianapolis issued its second quarter 2018 earnings release. Our Board of Directors declared dividends on Class B-1 and Class B-2 capital stock at annualized rates of 4.50% and 3.60%, respectively. The dividends will be paid in cash on July 27, 2018.

In 2012, bank member Old National Bank and LifeDesigns, Inc. received a $340,000 AHP award to begin construction on the first 25-unit Crawford Apartments building. In 2016, Old National and LifeDesigns were awarded a second AHP grant for phase II of the Crawford Apartments, which would add an additional 36 units. The concept involved collaboration among many service providers to make it work. Residents at Crawford can take advantage of support services that include on-site case management, recovery from addiction, and life skills education.

FHLBank Indianapolis presented the Community Spirit Award to Jim Wolfington of Chelsea State Bank at the 2018 Building Michigan Communities Conference. This award honors individuals that show an outstanding dedication to affordable housing and community economic development. Jim was nominated for the award by Ann Arbor, MI-based Avalon Housing - a nonprofit real estate developer, property manager, and support services organization. He has worked on multiple FHLBank Indianapolis Affordable Housing Program (AHP) grant projects with Avalon, as well as one with the Ann Arbor Housing Commission, securing over $2.3 million for his community.

On April 26, FHLBank Indianapolis issued its first quarter 2018 earnings release. Our Board of Directors declared dividends on Class B-1 and Class B-2 capital stock at annualized rates of 4.25% and 3.40%, respectively. The dividends will be paid in cash on April 27, 2018.