Alerus donates $30K for homeownership, economic development programs

Grand Forks, N.D.-based Alerus donated $20,000 to the Latino Economic Development Center through a partnership with the Federal Home Loan Bank of Des Moines..The LEDC is building Latino-focused market hall Plaza del Sol in St. Paul, which will have a business incubator space for small food businesses and a commercial kitchen with flexible lease terms for new and small businesses. The grant funding will develop a technical assistance curriculum to help food businesses handle growth challenges and expand. “We are thrilled to provide this funding in partnership with FHLB to support new and growing entrepreneurs as they work toward their small business ownership goals,” said Kelly Elkin, corporate banking executive and nonprofit segment leader at Alerus. Alerus also donated $10,000 to Three Rivers Community Action in Southeast Minnesota through a partnership with Federal Home Loan Bank of Des Moines. The donation will support the organization’s Achieve Homeownership program and free, first-time home buyer education classes. “Alerus has a long history of supporting its communities and initiatives that make a lasting impact in the quality of life for everyone, and Three Rivers Community Action checks all the boxes,” said Alerus Southern Minnesota President Joe Langel. “The Achieve Homeownership program has provided education and assistance to thousands of people in our region over the years.”The donations were through the FHLB’s Member Impact Fund, which provides FHLB Des Moines members up to $3 for every $1 in matching grant donations to help nonprofits or government entities support their communities. The fund has awarded nearly $70 million in grants since it was founded two years ago.