RAPID CITY, S.D. — Highmark Credit Union, in partnership with the Federal Home Loan Bank of Des Moines, has announced a $25,000 grant to support the Custer West Dam Project through the Member Impact Fund.
The funding was awarded to the Black Hills Area Community Foundation-West Dam and will help support infrastructure improvements tied to community development efforts in the southern Black Hills.
The grant is part of the Member Impact Fund, a matching grant program through the Federal Home Loan Bank of Des Moines. The initiative will distribute more than $12.9 million across Alaska, South Dakota, Guam and the Commonwealth of the Northern Mariana Islands to support affordable housing and community development projects.
“We are incredibly proud to support the Custer West Dam project. Investments like this strengthen our community’s future, protect our natural resources, and reflect our deep commitment to the people and places we call home,” said Mindy Howard, president and CEO of Highmark Credit Union.
Highmark Credit Union has supported the Custer West Dam project and the Custer community since 2013. The partnership has focused on improving the region through initiatives related to affordable housing and community development.
Custer Mayor Bob Brown said the funding will help move the dam reconstruction forward.
“A heartfelt thank you to Highmark for stepping up to support the West Dam rebuild. This project is about much more than just infrastructure; it’s about bringing back a piece of our local landscape. Their vital contribution helps ensure this important reservoir is returned to the community,” Brown said.
The Federal Home Loan Bank of Des Moines provides funding solutions to more than 1,200 members, helping support mortgage lending, economic development and affordable housing throughout the communities they serve.
The Member Impact Fund allows member institutions to provide matching grants to nonprofit organizations and government entities addressing local needs.
“The Member Impact Fund is designed to help our members champion the organizations that make a real difference in their communities,” said Kris Williams, president and CEO of FHLB Des Moines. “By partnering with our members, we’re able to multiply resources and support their vital work as they continue to strengthen opportunities for the people they serve.”
Organizations receiving grants were selected based on their need for funding that supports affordable housing and community development initiatives such as job training, financial literacy programs, food banks and youth services.
Since launching in 2023, the Member Impact Fund has distributed more than $83 million in grants, generating over $113 million in combined funding for affordable housing and community development efforts.
The Custer West Dam project is expected to play a key role in restoring an important recreational and environmental resource in the Black Hills region of South Dakota.
