First Interstate Bank is turning local giving into a much larger statewide impact.
Through the Federal Home Loan Bank of Des Moines Member Impact Fund, First Interstate contributed $200,000 to nonprofit and community organizations across South Dakota. The Federal Home Loan Bank of Des Moines added a 2.5-to-1 match, bringing the total investment to $700,000.
The funding will support 34 organizations working in areas such as workforce development, education, poverty reduction, community services and economic opportunity.
The Member Impact Fund was launched in 2023 to amplify charitable giving by member financial institutions. Participating banks commit new funding to eligible nonprofit organizations or government entities, then apply for matching funds on their behalf.
For First Interstate Bank, the program builds on a longstanding commitment to the communities it serves. The bank sets aside 2% of its pre-tax earnings for charitable contributions throughout its footprint.
Of the 34 organizations selected, 13 were directly impacted within the local footprint, including: Rural America Initiatives, the Adult Day Center, the Black Hills Area Community Foundation and Elevate Rapid City.
First Interstate contributed $20,000 to Elevate Rapid City. With the additional $50,000 match, the total award reached $70,000.
That funding will support Elevate Rapid City’s work to strengthen the regional economy through business development, workforce initiatives and community investment.
Other statewide recipients included Junior Achievement, Feeding South Dakota, Leadership South Dakota, Children’s Home Society, Abbott House, Special Olympics South Dakota, Four Bands Community Fund and Inter-Lakes Community Action Partnership.
Each organization serves a different need, but the broader goal is the same: building stronger communities and creating more opportunities for South Dakotans.
By pairing its own contributions with the Member Impact Fund, First Interstate Bank was able to more than triple the reach of its original investment. It’s a reflection of First Interstate Bank’s ongoing commitment to giving back to the communities it serves—leveraging partnerships to expand its impact, support more organizations and help ensure local communities continue to grow and thrive.