INDIANA – Old National Bancorp (“Old National”), a member institution of the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), has announced two grants in partnership with FHLBank Indianapolis:
- A $110,000 grant to Hoosier Uplands Economic Development Corporation in Mitchell, Ind.
- A $115,000 grant to the Foundation for Pops in Melvindale, Mich.
Both grants are through FHLBank Indianapolis’ Community Multiplier—Member Match Program. The grant funding will support housing, supportive services, emerging housing developers, and counseling.
The Community Multiplier – Member Match program is FHLBank Indianapolis’ newest program offering, designed to support targeted affordable housing initiatives outside FHLBank Indianapolis’ other grant programs. Community Multiplier offers grants between $25,000 and $125,000 for non-profit organizations headquartered in Indiana or Michigan who partner with an FHLBank Indianapolis member financial institution on targeted affordable housing initiatives. With a 10% matching funds commitment from the member financial institution, FHLBank Indianapolis provides grants between $25,000 and $125,000.
“We are so grateful to the Federal Home Loan Bank of Indianapolis for continuing to provide innovative opportunities for our community partners,” said Old National Bank Foundation President, {Joe Kiser. “These investments will serve as catalysts for Hoosier Uplands and the Foundation for POPs to reach deeper into their communities and help even more people.”
About the grantees:
Hoosier Uplands Economic Development Corporation (EDC) — Mitchell, Indiana
Priority Area: Housing supporting services
Program Support: Funding will support case management services for formerly homeless elderly residents in the permanent supportive housing development of Limestone Edge, which is currently being developed in Bedford, Ind. This initiative aims to increase housing stability by providing essential case management support with an onsite resident services coordinator, which connects residents with healthcare, mental health services, and other critical resources.
Grantee Statement: “This aligns with our priority to address the specific challenges faced by formerly homeless elderly individuals in maintaining stable housing,” said Natalie Powell, Hoosier Uplands EDC Director of Community Housing Development. “The goal is to ensure that elderly tenants retain their housing and improve their overall well-being, reducing the risk of future homelessness and promoting long-term self-sufficiency. This funding will help create a supportive environment where elderly individuals can thrive in their homes, with the care and resources they need to remain housed and healthy.”
Foundation For Pops — Melvindale, Michigan
Priority Areas: Emerging developers, housing supportive services, housing counseling
Program Support: Foundation for Pops is dedicated to improving economic mobility and housing stability for underserved populations, particularly veterans and low-to-moderate-income families in Wayne County, Michigan. Their mission includes critical housing supportive services, housing counseling, and real estate development as an emerging developer to provide affordable housing solutions. Through housing supportive services, they offer case management, financial coaching, peer recovery coaching, job training, and employment support to individuals facing housing instability.
Grantee Statement: “Our housing counseling initiatives empower prospective and current homeowners with the knowledge and resources necessary for sustainable homeownership,” said Foundation for Pops Executive Director Lakesha Hancock. “We offer financial capability, foreclosure prevention, and homebuyer education to ensure individuals and families make responsible housing decisions.”
About the FHLBank Indianapolis Community Multiplier Program
Affordable housing is a core component of the mission at FHLBank Indianapolis. They invest a minimum of 10% of annual net earnings back into affordable housing and community development-related initiatives. The Community Multiplier – Member Match Program is FHLBank Indianapolis’ newest program, designed to support local community needs and targeted affordable housing initiatives. The program works to maximize the impact banks have in their communities by providing 90% matching funds for targeted initiatives that support affordable housing development but fall outside of our other programs.
To learn more about Old National’s support to the communities it serves, go to oldnational.com/about-us/community.
