Federal Home Loan Bank of Des Moines

What Federal Home Loan Bank of Des Moines does

Federal Home Loan Bank of Des Moines is a federally chartered cooperative and government-sponsored enterprise (GSE), one of 11 regional banks in the Federal Home Loan Bank System created by Congress in 1932 to promote home ownership and provide liquidity to member financial institutions. The bank is wholly owned by approximately 1,200+ member institutions—including community and commercial banks, credit unions, insurance companies, thrifts, and community development financial institutions—and operates under Federal Housing Finance Agency oversight across 13 states (Alaska, Hawaii, Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming) and three U.S. Pacific territories, without taxpayer funding.

The institution provides four core product categories: Advances (secured wholesale funding including Community Investment and Housing Affordability variants), the Mortgage Partnership Finance (MPF) Program (a secondary market channel offering MPF Traditional and MPF Xtra products that allow members to retain servicing), Letters of Credit (leveraging the FHLB credit rating), and an Affordable Housing Program suite comprising Competitive AHP grants, Home$tart down payment assistance (up to $15,000 per borrower), the Native American Homeownership Initiative, Mortgage Rate Relief (approximately 2 percentage point rate reduction for income-qualified buyers), and the Member Impact Fund. As of Q3 2025, advances totaled approximately $110 billion and investments approximately $64.36 billion. Transactional infrastructure includes the eAdvantage member banking portal, eMPF loan delivery platform, AHP Online for affordable housing program management, and Safekeep Direct for collateral custody; a 2026 partnership with Wolters Kluwer's eOriginal platform added digital collateral acceptance for commercial real estate, ag real estate, multifamily, HELOC, and other electronic assets.

FHLB Des Moines generates revenue primarily through net interest spread on advances and investment securities, supplemented by MPF credit enhancement and loan delivery fees. Its cooperative model returns earnings to members through dividends ($159 million declared in Q3 2025) and statutory Affordable Housing Program contributions equal to 10% of net income, with additional voluntary contributions planned (more than $200 million in 2026). Distribution is relationship-led: three dedicated territory-based Mortgage Relationship Managers cover the district, supported by MPF University training, regional meetings, an annual mortgage conference, and self-service digital portals.

Name

Federal Home Loan Bank of Des Moines

Legal name

Federal Home Loan Bank of Des Moines

Website

https://fhlbdm.com

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

251–500 employees

Short description

Federal Home Loan Bank of Des Moines is a federally chartered cooperative GSE wholly owned by its 1,200+ member financial institutions, providing wholesale advances, secondary mortgage market access (MPF), letters of credit, and affordable housing programs across 13 states and three U.S. Pacific territories.

Ownership category

akta.pro rank

Product category

Wholesale Cooperative Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Savings Institution, Federally Chartered (6035), Mortgage Bankers & Loan Correspondents (6162), National Commercial Banks (6021)

akta.pro primary industry

Public Mortgage Insurance & Government Credit Guarantee Programs (FSALAKAD)

akta.pro secondary industries

Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL), Government Mortgage Insurance & Guarantees (FHA/VA/USDA and equivalents) (FSALAJAC)

Keywords

• Wholesale funding advances
• Mortgage partnership finance
• Affordable housing grants
• Letters of credit
• Community investment lending

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Others

Revenue model

1. Advances (Lending): FHLB Des Moines provides advances (loans) to member financial institutions, generating interest income. In Q3 2025, advances totaled approximately $110 billion. These are secured loans extended to members for liquidity purposes.
2. Investments: The bank invests member deposits and capital in various financial instruments, generating investment income. In Q3 2025, investments totaled approximately $64.36 billion.
3. Mortgage Partnership Finance (MPF) Program Fees: The MPF Program allows member financial institutions to sell mortgage loans to FHLB Des Moines, generating fees from credit enhancement services, loan delivery, and servicing management. PFIs can earn potential credit enhancement fees.
4. Affordable Housing Program Contributions: The bank contributes 10% of net income annually to the Affordable Housing Program (AHP), with additional voluntary contributions. In 2025, $102.4 million was awarded through competitive AHP grants to support affordable housing initiatives.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

FHLB Des Moines is a member-owned cooperative that provides wholesale liquidity (secured advances), secondary mortgage market access via the Mortgage Partnership Finance (MPF) Program, letters of credit, and affordable housing grant programs to its 1,200+ member financial institutions — community and commercial banks, credit unions, insurance companies, thrifts, and CDFIs across 13 states and U.S. Pacific territories.

Product overview

Federal Home Loan Bank of Des Moines is a member-owned cooperative offering a comprehensive suite of financial products and services to support mortgage lending, economic development, and affordable housing. The core product portfolio includes Advances (funding options including Community Investment Advances and Housing Affordability Advances), Mortgage Partnership Finance (MPF) with two product variants (MPF Traditional and MPF Xtra), Letters of Credit, and Affordable Housing products. The MPF Program provides secondary market access for selling home loans with risk transfer options. The Affordable Housing Program encompasses the Competitive AHP (grants for housing development), Home$tart and NAHI (down payment assistance providing up to $15,000 grants), Mortgage Rate Relief, and the Member Impact Fund (matching grants). The bank operates online platforms including eAdvantage (member online banking), eMPF (mortgage transaction management), AHP Online (affordable housing program management), and Safekeep Direct (collateral custody). Members can also access Letters of Credit, Deposit Accounts, and strategic analysis tools through the platform.

Differentiator

Problem solved

Functional benefit

Brands

• Mortgage Partnership Finance (MPF) Program: A secondary mortgage market program that helps financial institutions sell home loans, manage risk, and retain servicing relationships.
• Home$tart
• Native American Homeownership Initiative (NAHI)
• Affordable Housing Program (AHP)
• Member Impact Fund
• Mortgage Rate Relief

Products and services

• Advances Reliable, cost-effective secured funding (term, daily reset, and forward starting advances) extended to member financial institutions for liquidity and asset/liability management.
• Community Investment Advances

Quantifiable outcome

• More than 97,000 families helped since 1990 through AHP program
• +3 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Partnerships

Ten partnerships are on record, tiered core.

• Wolters Kluwer Financial & Corporate CompliancecoreTechnology or Integration · 16 April 2026Wolters Kluwer announced support and coordination with FHLB Des Moines following its decision to accept digital Commercial Real Estate, Ag Real Estate, multifamily, HELOC, and other electronic assets as pledged collateral. The collaboration leverages the eOriginal eAsset Management Platform to enable lenders to digitally originate and pledge asset types that historically required paper execution.
• Sunrise BankscoreChannel Partner/ Reseller/ Distributor · 23 March 2026Sunrise Banks partnered with FHLB Des Moines to distribute $122,500 in grants through the Member Impact Fund to eight South Dakota-based nonprofits supporting affordable housing, community development, and entrepreneurship initiatives.
• Northwest Area FoundationcoreStrategic or Co-development Partner · 1 January 2025Five-year collaboration between FHLB Des Moines and Northwest Area Foundation yielded strong results for Native-led initiatives. FHLB Des Moines announced a $5 million grant to help further economic development on Native lands through Native Community Development Financial Institutions.
• Twin Cities Habitat for HumanitycoreStrategic or Co-development PartnerTwin Cities Habitat for Humanity became a member of FHLB Des Moines in August 2024 to access the new Habitat for Humanity Advance Rate Discount product - a 5-year, 0% rate advance for member institutions that purchase or originate below-market residential mortgage loans from Habitat affiliates.
• Computershare LimitedcoreTechnology or IntegrationComputershare Limited serves as the MPF Document Custodian (located in Minneapolis, MN) and MPF Master Servicer for investor reporting (located in Columbia, MD) for the Mortgage Partnership Finance Program.
• Standard Insurance CompanycoreChannel Partner/ Reseller/ DistributorStandard Insurance Company served as the sponsor for the Native American Youth and Family Center's AHP application for the Tistilal Village redevelopment project in Portland, Oregon, helping secure $750,000 in AHP funding.
• GNB BankcoreChannel Partner/ Reseller/ DistributorGNB Bank, a member institution with $630 million in assets, partnered with FHLB Des Moines to provide a Home$tart grant helping a local individual achieve homeownership after overcoming homelessness and personal loss.
• Habitat for Humanity AffiliatescoreStrategic or Co-development PartnerHabitat for Humanity affiliates can partner with FHLB Des Moines member institutions through the Habitat for Humanity Advance Rate Discount product, enabling members to access 0% rate advances for loans originated by Habitat affiliates.
• 40 Member Financial Institutions (2025 AHP Partnership)coreChannel Partner/ Reseller/ Distributor40 FHLB Des Moines member financial institutions partnered with 50 local housing organizations for the 2025 Competitive Affordable Housing Program, helping distribute $102.4 million across 54 affordable housing initiatives benefiting over 1,700 families.
• eOriginal (Part of Wolters Kluwer)coreTechnology or IntegrationeOriginal eAsset Management Platform enables FHLB Des Moines to accept digital Commercial Real Estate, Ag Real Estate, multifamily, HELOC, and other electronic assets as pledged collateral, modernizing traditionally paper-based processes.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Federal Home Loan Bank of Dallas: Regional FHLB covering Texas, Louisiana, Mississippi, Alabama, and Arkansas, providing the same wholesale liquidity, mortgage finance, and affordable housing products to member institutions.
• Federal Home Loan Bank of Topeka: Regional FHLB covering Colorado, Kansas, Nebraska, Oklahoma, and Wyoming, offering the same advances, mortgage partnership finance, and Affordable Housing Programs to its member institutions.
• Federal Home Loan Bank of Pittsburgh: Regional FHLB covering Pennsylvania, West Virginia, and Delaware, offering the same member-owned cooperative banking model with advances, mortgage partnership finance, and affordable housing programs.
• Federal Home Loan Bank of Indianapolis: Regional FHLB serving Indiana and Michigan members with the same cooperative banking platform, advances, and community investment products as FHLB Des Moines.
• Federal Home Loan Bank of Boston: Sister FHLB serving member institutions in the Northeast with the same cooperative GSE business model, offering advances, MPF secondary market access, and Affordable Housing Programs.
• Federal Home Loan Bank of Chicago: Another regional Federal Home Loan Bank that co-owns the MPF program with FHLB Des Moines and offers the same advance, MPF, and affordable housing products to its member institutions across a different Midwestern district.
• Federal Home Loan Bank of San Francisco: Regional FHLB serving Arizona, California, and Nevada with identical business model — member-owned cooperative providing wholesale liquidity and affordable housing programs.
• Federal Home Loan Bank of Cincinnati: Regional FHLB serving Kentucky, Ohio, and Tennessee members with the same GSE cooperative structure and core product offerings (advances, MPF, AHP, letters of credit).
• Federal Home Loan Bank of Atlanta: Regional FHLB serving member institutions across the Southeast with identical product suite including advances, MPF, and Affordable Housing Programs — directly comparable business model to FHLB Des Moines.

Broad incumbents

• Federal National Mortgage Association (Fannie Mae): Larger GSE that purchases mortgages from lenders and provides liquidity to the housing market, including being the ultimate buyer for MPF Xtra loans sold through FHLB Des Moines's MPF program.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/fhlbdm
• YouTubeyoutube.com/user/FHLBDesMoines
• Facebookfacebook.com/FHLBDM
• LinkedInlinkedin.com/company/federal-home-loan-bank-of-des-moines

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments11 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Federal Home Loan Bank of Des Moines