Community Programs

We provide grants and programs that help fund affordable rental or ownership and directly affect the communities we serve.

Supporting community and housing initiatives

Since its creation in 1990, the Community Investments department of the Federal Home Loan Bank Indianapolis has played a pivotal role in providing safe and affordable housing to residents in Indiana and Michigan. By partnering with community developers, non-profit organizations and public agencies, FHLBank Indianapolis members can use our grants to build affordable housing, improve their neighborhoods and reinvest in their communities.

For more information about the grants that we offer, please read the program summaries below or visit their page.

Affordable Housing Program (AHP)

Each year, FHLBank Indianapolis member financial institutions (members) partner with local not-for-profit housing providers, economic development partners and housing developers (sponsors) to compete for AHP grants of up to $600,000.

These grants help fund the acquisition, construction or rehabilitation of properties for use as affordable rental or ownership. Since 1990, FHLBank Indianapolis has awarded more than $283 million to create or rehabilitate single- and multi-family housing in Indiana and Michigan.

Funds are awarded through an annual competitive application process. These awards support a multitude of affordable housing solutions for veterans, people with disabilities, or young adults transitioning out of the foster care system, and many others.

Homeownership Initiatives

In partnership with our members, FHLBank Indianapolis offers three grant programs designed to address the homeownership needs of families throughout the life cycle of homeownership: 


Building Our Communities

Our goal with the following programs is to empower local leaders to build stronger and more resilient communities through sustained growth and economic development.

Community Investment Program

The Community Investment Program (CIP) provides our members with at-cost loans and letters of credit to support affordable housing and community economic development activities that benefit low- and moderate-income families or neighborhoods. These funds have been used in the past to develop affordable housing, support infrastructure improvement, and boost local job creation.

Elevate Small Business Grant

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. Qualifying small businesses can use the grant money (up to $20,000) for capital expenditures, workforce training, or a variety of other needs to get the boost that they need.

Community Mentors

The Community Mentors program is a community engagement and economic development program to build partnerships between FHLBank Indianapolis members and community leaders and strengthen communities in Indiana and Michigan. Recipients will be the lead partner in a full-day Community Mentors Workshop hosted by FHLBank Indianapolis and receive grants of $50,000 to be used for creating a community plan or study, hiring a consultant, a specific community project of a previous plan, or a specific initiative identified at the Community Mentors Workshop.

Community Support Program

To maintain access to FHLBank Indianapolis' long-term credit and Community Investment products, our members are required to submit a Community Support Statement (CSS) to the Federal Housing Finance Agency (FHFA) every two years (in odd-numbered years) to document their federal Community Reinvestment Act (CRA) performance and record of lending to first-time homebuyers. FHLBank Indianapolis will provide written notice to members subject to Community Support Program (CSP) review, including instructions for completing the CSS form, prior to the start of the biennial review cycle.

Public comments

Nonprofit organizations, community groups, and other interested parties may comment on a FHLBank member’s record. Public comments on an individual FHLBank member should be submitted to the FHFA via email to hmgcommunitysupportprogram@fhfa.gov. A list of members currently subject to CSP review and the current CSP review schedule are available under Resources.

Failure to meet CSS requirements

If a member does not submit a CSS or fails to meet the CSP requirements, the FHFA requires FHLBank Indianapolis to restrict the member's access to our services and products. Once access is restricted, the member cannot borrow advances for longer than one year or access any of the Community Investment programs, including the competitive Affordable Housing Program, Homeownership Initiatives programs, or Community Investment Program (CIP) products. The restriction can be lifted by submission of a CSS that meets the FHFA requirements.

Contact

Questions related to CSP can be directed to FHLBank Indianapolis Community Investment at 317-465-0200 or communitysupportprogram@fhlbi.com.

Community Support Program Resources