Community Multiplier – Member Match Program

Community Multiplier is a flexible grant program designed to help member financial institutions support local community needs outside of the programs and products already offered by the Bank.

The Community Multiplier program provides matching grants ranging from $25,000 to $125,000 that member financial institutions may use to support non-profit organizations working on affordable housing initiatives in the priority areas defined below. The member financial institution will commit a minimum 10% match to FHLBank Indianapolis funds.

The Community Multiplier – Member Match program application is available now! See the Community Multiplier Resources tab below.

Funding Update: As of April 10, 2025, Community Multiplier –Member Match funds have been exhausted. 

Thank you to all of our members for helping fund critical affordable housing initiatives across our district. Stay tuned to our Community Investment newsletter and other communications channels for future updates on the initiatives this program will fund.

Member financial institution requirements:

• Members will apply for the program on behalf of the non-profit organization.
• The total per-member cap is $200,000.
• Members must contribute a minimum 10% grant match, ranging from $2,500 for an FHLBank grant of $25,000 to $12,500 for an FHLBank grant of $125,000.
• Members may support multiple non-profit organizations through this program. 
  • Example: If the member requests the minimum matching grant of $25,000 per non-profit, that member may provide matching grants to up to eight non-profit organizations.
• The 10% member match must be forward facing and cannot include past commitments.
• Member matching funds must be transferred to the non-profit organization within 14 days of application approval.

Non-profit organization requirements:

• Only 501(c)(3) non-profits based in Michigan and Indiana are eligible.
• Non-profits are only eligible for one grant from this program.
• Non-profits may not apply directly to the program, but instead must work with an FHLBank Indianapolis member financial institution. See our member directory for a list of member institutions.
• Non-profits must currently operate within one of the priority areas listed below.
• Non-profits will need to provide concise information on how funds will be used within the identified priority area.
• The maximum grant award from FHLBank Indianapolis is $125,000, with an additional member match of 10%.

Program specifics:

• Community Multiplier operates on a first-come, first-served basis.
• Applications will be reviewed in the order in which they are received.
• Applications will be available in PDF form on March 27, and .GIVES credentials are not required.
• Applications may be submitted via email on or after March 27.
• The program will close when funds are exhausted, or October 1, whichever comes first.
• The program has a total of $5M available.

Getting Started with Community Multiplier

• Priority Areas

  Community Multiplier matching grants support non-profit organizations based in Indiana or Michigan who are working on affordable housing initiatives in the below defined Priority Areas:

  Emerging developers – Real estate developers who have not previously been funded by FHLBank Indianapolis and are new to the industry (less than 2 years in industry).

  Housing supportive services – Services that assist with increasing stability of housing such as case management, healthcare, mental health care, substance abuse counseling, job training, employment support or child welfare.

  Housing counseling – Programs that provide tools for current and prospective homeowners to make responsible and sustainable choices through educational assistance.

  Affordable housing industry career development – Programs that build skill sets for the varied career paths that support affordable housing.

  Operational funding for targeted affordable housing organizations – Operational funding for affordable housing organizations who have not previously received AHP funding from FHLBank Indianapolis, or who are working in a rural county, as defined by nonmetro counties in the "Metropolitan (metro) and nonmetropolitan (nonmetro) counties, 2023" map from USDA. Organizations working in rural counties are not subject to prior funding restrictions.

  Community land trusts – Community-driven organizations that buy and manage land to keep it affordable for residents.

• Community Multiplier Resources

  Program Overview

  Community Multiplier Application Please note: the application MUST include two signatures by two FHLBank member officers who are currently listed as "Certified Resolutions for Advances." If a member does not know who these officers are, the member should email communitymultiplier@fhlbi.com to obtain the correct list.