Business
MERCANTILE BANK PARTNERS IN STATEWIDE INVESTMENT TO ADVANCE AFFORDABLE HOUSING INITIATIVES
Over $200,000 provided to nonprofits through Federal Home Loan Bank of Indianapolis Community Multiplier Program GRAND RAPIDS, Mich., May 1, 2025 /PRNewswire/
About this update from Mercantile Bank Corporation
[{"type":"text","content":"Over $200,000 provided to nonprofits through Federal Home Loan Bank of Indianapolis Community Multiplier Program\nGRAND RAPIDS, Mich., May 1, 2025 /PRNewswire/ -- Mercantile Bank is proud to announce its participation in the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) Community Multiplier program, resulting in over $200,000 in grant funding awarded to six nonprofit organizations across the state supporting affordable housing projects.\n\n \n \n \n \n \n \n\n \nThis partnership reflects the Bank's deep and ongoing commitment to the communities it serves. By working hand-in-hand with nonprofits and FHLBank Indianapolis, Mercantile Bank is helping expand access to affordable housing for individuals and families throughout Michigan. \"At Mercantile Bank, we believe that accessible housing is fundamental to thriving communities,\" said Ray Reitsma, President and CEO of Mercantile Bank. \"We're proud to support these projects that will create real, lasting impact for people across the state. Our partnership with FHLBank Indianapolis underscores our commitment to meeting local needs with local solutions.\"\nThe grants will support various initiatives, from homebuyer education and supportive services to transitional and permanent housing, tailored to meet the diverse needs of communities across five regions. Nonprofit partners include:\nICCF Community Homes - Grand RapidsSafe Haven Ministries - Grand RapidsKalamazoo Neighborhood Housing Services- KalamazooCapital Area Housing Partnership - LansingCommunity Housing Network – Troy/MacombNorthwest Michigan Action Agency – Cadillac/Traverse City/PetoskeyEach nonprofit partner was selected for its dedication to expanding housing access and improving quality of life in its area.\n\"Our work with these nonprofits goes beyond funding,\" said Sonali Allen, SVP, Community Development Officer at Mercantile Bank. \"We're building partnerships with these nonprofits that include financial education and support services to help individuals and families not only find housing but enhance the tools they need to maintain long-term stability and independence.\"\nThe Community Multiplier program enables member banks to amplify the reach of their community investments, leveraging the power of collaboration to maximize local impact. With a 10% matching funds commitment from Mercantile Bank, ...