Liberty Bay Bank Secures $240,000 Grant for Morrow Manor

April 11, 2017

Poulsbo and Greater Puget Sound Region, WA –Liberty Bay Bank, a local community bank committed to building relationships that strengthen the communities it serves, recently secured a $240,000 grant toward the construction of affordable long-term housing for domestic violence survivors in Kitsap County. “We are honored to have contributed to this housing grant,” reports Liberty Bay Bank CEO Rick Darrow, “this is for a much needed project in our community.”

Liberty Bay Bank and Poulsbo-North Kitsap Rotary Foundation were recipients of a Competitive Affordable Housing Program (AHP) grant awarded by the Federal Home Loan Bank of Des Moines (FHLB Des Moines). The funds will be used to help finance the construction of Morrow Manor housing being built in Poulsbo. These homes will provide much-needed, longer term transitional housing for families who are domestic violence survivors and are in the process of rebuilding their lives.

The $240,000 grant is a major contribution to the $2.1 million Morrow Manor capital campaign – The Campaign for Brighter Tomorrows – a project spearheaded by the Poulsbo-North Kitsap Rotary Foundation in partnership with the YWCA of Kitsap County. Families will indeed be seeing brighter tomorrows very soon, to learn more about Morrow Manor please visit www.supportmorrowmanor.org

About FHLB: FHLB Des Moines awarded nearly $4 million in AHP grants for housing projects in the state of Washington in 2016. These efforts are made possible through AHP by partnerships between FHLB Des Moines member financial institutions – such as Liberty Bay Bank – and local non-profit organizations.

The Federal Home Loan Bank of Des Moines is a member-owned cooperative that provides funding solutions and liquidity to over 1,400 financial institutions to support mortgage lending, economic development and affordable housing in their communities. Serving 13 states and three U.S. Pacific territories, FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. The Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com