German American Bank, a member of the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), awarded Rauch, Inc. $55,000 in grant funds through the Community Multiplier – Member Match Program.
The $55,000 grant will support Rauch’s housing department as they continue to grow and develop community-based, affordable, accessible housing in Clark, Floyd, and Scott counties. The funds will allow the organization to hire a part time Properties Coordinator to maintain the excellent level of service for current residents, freeing up time for the Director to concentrate on research, planning, and development of new housing projects. In addition, it will help to fund essential training for all employees.
“German American Bank is proud to have a long-standing community partner in Rauch, Inc.,” says Brett Stilwell, German American Bank Market President. “We were excited to help them access funds from the Community Multiplier Grant to continue building their affordable housing program and support their mission to create a community where everyone belongs.”
“The support of our community is what has allowed our organization to grow and thrive over the past 75 years,” states Dan Lowe, CEO of Rauch, Inc. “German American Bank and their willingness to step up make this grant a reality for us is a perfect example of that community support in action. We are so appreciative of their help.”
The Community Multiplier – Member Match program is FHLBank Indianapolis’ newest program offering, designed to support targeted affordable housing initiatives that fall outside of 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 is providing grants between $25,000 and $125,000.
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