‘Family of Banks’ invest $320,000 in local communities
News | Published on June 30, 2025 at 1:43pm CDT
In a powerful show of hometown commitment, a group of locally-owned community banks joined forces to invest $320,000 into the communities they serve—providing a significant boost to local nonprofits and public organizations, it was announced last week.
The “Family of Banks,” comprised of Glenwood State Bank, Lowry State Bank, and First National Bank of Osakis, made the donation with the support of matching funds from the Federal Home Loan Bank of Des Moines (FHLB) Member Impact Fund. This program returns funds back to member banks and empowers them to identify local needs to positively impact their communities, it was stated in a news release issued last week.
Ten organizations in the area will benefit from this initiative, each playing a vital role in meeting local needs and building a stronger future. Recipients include: City of Lowry, Osakis Silverstreaks Foundation, Park Osagi, Central Square, Glenwood & Beyond, Wood-N-Hearts, Minnewaska Area Schools Daycare, Early Care Foundation, Car Care Program, and Pope County Families in Need.
“As community banks, our purpose has always been to create vibrant partnerships and to serve others,” said Kirsten Nelson, an owner of the Family of Banks. “This $320,000 is more than just a donation—it’s a declaration of our belief in the people and values of these communities.”
This investment reflects a longstanding philosophy: that strong communities are built through strong partnerships. From expanding childcare access to enhancing public spaces and delivering hands-on aid, the funded organizations are tackling some of the region’s most pressing needs.
“It is truly a privilege to partner with these organizations,” Nelson added. “They are on the front lines, doing the work that keeps our communities thriving, connected, and cared for. We’re proud to stand beside them and grateful for FHLB’s support.”
About the Family of Banks
Glenwood State Bank, Lowry State Bank, and First National Bank of Osakis share common ownership under the Martinson/Nelson families, who reside in Pope and Douglas counties. The three banks make up the “Family of Banks” known for personalized service, local decision-making, and deep-rooted commitment to reinvesting in the communities they serve, it was stated.
About Federal Home Loan Bank The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S. Pacific territories as a member-owned cooperative. Together with over 1,200 member institutions, it supports affordable housing, economic development, and community improvement initiatives throughout the region. Learn more at www.fhlbdm.com.
