WECU Expands Education Grant Program to $312,500 with Matching Funds from FHLB Des Moines

Posted by Alyse Knudsen on November 26, 2024

WECU, headquartered in Bellingham, Wash., announced on Nov. 20 that its Education First Grant Program, initially providing $125,000 over two years to support educational initiatives in Whatcom and Skagit Counties, has received an additional boost through a partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines). Through the FHLB Des Moines Member Impact Fund, this contribution has more than doubled to $312,500, amplifying the support for local organizations dedicated to educational and community development. 

The four 2024 grant recipients – Bellingham Arts Academy for Youth (BAAY), Skagit Preschool and Resource Center (SPARC), Economic Development Alliance of Skagit County (EDASC) – Startup School, and Whatcom Literacy Council – will now have increased resources to drive their missions forward. 

“Thanks to the Member Impact Fund, these nonprofits will have even greater resources to further the critical work they’re doing in our community,” said Reid Frederick, WECU Director of Community Impact. “We’re thrilled to work with FHLB Des Moines and our nonprofit partners to unlock these matching funds.” 

The FHLB Des Moines Member Impact Fund multiplies eligible grant donations, contributing $3 for every $1 donated by an FHLB Des Moines member, strengthening the efforts of nonprofit and government entities in affordable housing and community development. FHLB Des Moines supports over 1,200 member institutions to advance economic development and accessible housing. 

The Education First Grant Program, launched in 2019, continues to reflect WECU’s founding commitment to education, a legacy dating back to its establishment in 1936 by Bellingham teachers.

Posted in Community Impact, Regional Member News, Washington.