LAKE OSWEGO, Ore., (May 14, 2024)—The Umpqua Bank Charitable Foundation, a 501(c)(3) organization of Umpqua Bank, is pleased to announce, in partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), the distribution of $160,000 in grants to 13 Oregon-based nonprofits working to support access to affordable housing.
Umpqua Bank is a member of FHLB Des Moines, which partners with financial institutions within its network to provide funding to meet the housing, business and economic development needs of the communities they serve. This year, through the Member Impact Fund, FHLB Des Moines provided $3 for every $1 donated by Umpqua Bank to the selected 13 Oregon-based organizations addressing access to affordable housing or community development throughout the state.
The Umpqua Bank Charitable Foundation’s partnership with the FHLB Des Moines is part of Umpqua Bank’s commitment to support nonprofits focused on improving access to economic opportunity, including affordable housing. According to Oregon’s Office of Economic Analysis, more than half of renters in the State of Oregon are unable to afford both rent and other basic needs.
“Access to quality housing is a major challenge for so many families right now, and strategic partnerships are critical to ensure that affordable housing is a reality for everyone in the communities we serve,” said Chris Merrywell, Umpqua Bank’s Consumer Banking President. “It’s an honor to join forces with the Federal Home Loan Bank of Des Moines in support of the great work organizations across Oregon are doing to provide accessible housing for more residents.”
“We are thrilled to see grants from our Member Impact Fund having a direct, positive impact on the communities in which our members help advance affordable housing and community development needs in a meaningful way,” said Kris Williams, President and CEO of FHLB Des Moines.
The following 13 organizations each received a 3:1 grant match from Umpqua Bank Charitable Foundation and Federal Home Loan Bank of Des Moines:
Received $10,000 in funding each:
- African American Alliance for Homeownership is a HUD-approved housing counseling agency and community-based organization providing first-time homebuyers and foreclosure prevention services to the public.
- Bienestar provides housing and builds hope and community for the wellbeing of Latinxs, immigrants, and all families in need.
- Bridge Meadows creates and inspires intergenerational residential communities, enriching the well-being of children, families, and elders.
- Central City Concern is on a mission to end homelessness by helping individuals find a home, regain health and move toward long-term stability and success.
- Community Partners for Affordable Housing develops affordable housing and provides services that empower individuals and families to secure and retain quality housing.
- Corvallis Neighborhood Housing Services (also known as DevNW) as provides technical and financial assistance to agencies that serve the housing and social services needs of lower-income residents.
- Farmworker Housing Development Corporation is committed to building safe, affordable housing until every Oregonian has a secure place to call home.
- Hacienda Community Development Corporation is a Latino-led Community Development Corporation that strengthens families by providing affordable housing, homeownership support, economic advancement and educational opportunities.
- Northwest Housing Alternatives Inc. builds new homes and new opportunities for seniors, families, veterans and people with disabilities across Oregon.
- Portland Community Reinvestment Initiatives provides affordable rental housing to low-income families, primarily in North and Northeast Portland.
- Portland Housing Center makes it possible for everyone to achieve their homeownership dreams through quality home buyer education, one-on-one guidance, financial services, and a variety of other resources.
- Proud Ground creates permanently affordable homeownership opportunities using the community land trust model to ensure multi-generational stability.
Received $40,000 in funding:
- Scottsburg Community Services Association is dedicated to enhancing the quality and promoting the overall welfare of the citizens within the Scottsburg Community and build upon the historic legacy of the Scottsburg community.
About the Umpqua Bank Charitable Foundation
The Umpqua Bank Charitable Foundation, a 501(c)(3) organization of Umpqua Bank, recognizes the importance of building healthier, more resilient, better connected and inclusive communities throughout the eight-state footprint. It works to strengthen the communities Umpqua Bank serves by investing in organizations and initiatives that expand access to education and create economic opportunity for individuals, families and small businesses. The foundation was formed in 2014 to demonstrate Umpqua’s deep commitment to the communities it serves and has distributed more than $20 million across the bank’s footprint.
About Umpqua Bank
Umpqua Bank is a subsidiary of Columbia Banking System Inc., (Nasdaq: COLB) and a premier regional bank in the western U.S., with offices in Oregon, Washington, California, Idaho, Nevada, Utah, Arizona and Colorado. With over $50 billion of assets, Umpqua combines the resources, sophistication and expertise of a national bank with a commitment to deliver personalized service at scale. The bank consistently ranks as one of America’s Best Banks (ranked by Forbes) and supports consumers and businesses through a full suite of services, including retail and commercial banking; Small Business Administration lending; institutional and corporate banking; equipment leasing; and wealth management. The bank’s corporate headquarters are located in Lake Oswego, Oregon. Learn more at umpquabank.com.
About Federal Home Loan Bank of Des Moines
FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com.