Women's Shelter and Support Center receives $155,000 in support of its new emergency shelter facility
Jun. 13—ROCHESTER — The Women's Shelter and Support Center received a $155,000 grant from the Federal Home Loan Bank Member Impact Fund in support of the center's new emergency shelter facility.
The grant will help expand staffing and programming to support survivors of domestic violence across 10 counties in southeastern Minnesota.
"This investment not only strengthens our capacity to serve more survivors but reinforces our mission to provide safe shelter and supportive services for survivors and their children," Artyce Thomas, executive director of the center, said in a statement. "We are incredibly grateful to have financial partners who recognize that access to safe housing is not a privilege — it's a foundation for healing and long-term stability."
WSSC supports nearly 3,000 individuals through shelter and advocacy services each year. The new shelter, currently under construction, will more than double the organization's housing capacity to provide a safe haven for up to 75 individuals at a time, the statement said. In 2026, WSSC will mark 50 years of service.
"We are proud to partner with our member financial institutions and local nonprofits to invest in the well-being of Minnesotans," Kris Williams, president and CEO of Federal Home Loan Bank of Des Moines, Iowa, said in the statement. "Everyone deserves access to safe, stable housing, and this project reflects that shared commitment."
The Member Impact Fund is a matching grant program from FHLB Des Moines that leverages the strength of member financial institutions to invest in community-based initiatives across the bank's district, according to the statement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 hours ago
- Yahoo
EDITORIAL: Farmers markets play a vital community role
Jun. 13—This week, the Farmer's Market Place in Austin received a grant of $4,380 from the Minnesota Department of Agriculture, one of 29 farmer's markets across the state that benefit from the one-time funding to help expand nutrition assistance efforts during this summer's season. According to a press release on Wednesday from MDA, farmers markets are a vital access point for Minnesotans who use nutrition assistance program benefits. This is something that long-time shoppers of these markets will easily attest to as they make use of local purveyors of fresh produce, baked goods and so much more. The Farmers Market Place has been a long-standing tradition in Austin, kicking off the week on Mondays at Main Street and Third Avenue NE, right next to the SPAM Museum. They always have a fresh assortment of goods that contribute not only the good tastes of fresh, home-grown or home-made items, but that are good for the area. And the good news is, it's not the only one. There is also the Cedar River Farmers Market on Fridays and just a short jog down Highway 218 you'll find the Rose Creek Farmers Market on Tuesdays. Food is always better when it's made with fresh ingredients, but it's also a prime destination for healthy eating. These goods are coming from their growing platforms within days of being ready. They are grown holistically and oftentimes organically. Not to mention, it's just very good food and you're helping out our local growers and our local communities. The farmers markets are a chance for everyone to win so take some time and help these producers out. Every dollar you spend with them they are spending to bring you the same great products you've come to enjoy.
Yahoo
15 hours ago
- Yahoo
Women's Shelter and Support Center receives $155,000 in support of its new emergency shelter facility
Jun. 13—ROCHESTER — The Women's Shelter and Support Center received a $155,000 grant from the Federal Home Loan Bank Member Impact Fund in support of the center's new emergency shelter facility. The grant will help expand staffing and programming to support survivors of domestic violence across 10 counties in southeastern Minnesota. "This investment not only strengthens our capacity to serve more survivors but reinforces our mission to provide safe shelter and supportive services for survivors and their children," Artyce Thomas, executive director of the center, said in a statement. "We are incredibly grateful to have financial partners who recognize that access to safe housing is not a privilege — it's a foundation for healing and long-term stability." WSSC supports nearly 3,000 individuals through shelter and advocacy services each year. The new shelter, currently under construction, will more than double the organization's housing capacity to provide a safe haven for up to 75 individuals at a time, the statement said. In 2026, WSSC will mark 50 years of service. "We are proud to partner with our member financial institutions and local nonprofits to invest in the well-being of Minnesotans," Kris Williams, president and CEO of Federal Home Loan Bank of Des Moines, Iowa, said in the statement. "Everyone deserves access to safe, stable housing, and this project reflects that shared commitment." The Member Impact Fund is a matching grant program from FHLB Des Moines that leverages the strength of member financial institutions to invest in community-based initiatives across the bank's district, according to the statement.
Yahoo
a day ago
- Yahoo
Chime Soared Nearly 40% on IPO Day -- but It Could Still Be a Long-Term Home Run
Highly anticipated fintech Chime went public, and the stock soared on the first day. Chime's business has excellent momentum and there's a big market opportunity. The stock is likely to be volatile in the near term, but Chime has lots of long-term potential. These 10 stocks could mint the next wave of millionaires › It's fair to say that investor demand for long-awaited IPOs is back. Online banking company Chime (NASDAQ: CHYM) finally went public after years of stagnation in the fintech IPO pipeline, and to call it a successful public debut would be a bit of an understatement. Not only did Chime price its IPO at $27 per share, which was already higher than the expected range of $24 to $26, but the stock skyrocketed right out of the gate. Chime stock climbed to nearly $45 per share on its IPO day before retreating a bit, but at the closing bell, Chime was 37% higher than its initial share price. Even so, this values Chime at about $16 billion, which is significantly lower than the company's peak private valuation of $25 billion, which occurred in 2021. After such strong interest in the company's debut, is this fintech worth a closer look right now for long-term investors? Chime is a financial technology, or fintech, company that provides banking and financial services to Americans, targeting households earning $100,000 per year or less. The majority of Chime customers use the company as their primary banking relationship, and the average customer does more than 55 transactions every month. The company has an active user base of 8.6 million customers, and this number was 23% higher year over year in the first quarter. One sharp contrast between Chime and traditional banks is how the company makes its money. Its main revenue stream is interchange fees (small, percentage-based fees when customers use a debit or credit card issued by Chime), and its members generated $115.2 billion in purchase volume last year. Chime is actually the sixth-largest issuer of debit cards in the United States by purchase volume -- an impressive accomplishment. It's very important to note that Chime is not a bank. It partners with several FDIC-member banks to offer bank accounts to its members, but because it is not a bank, it doesn't have the typical bank's revenue stream (like interest income from loans, for example). In the most recent quarter, Chime reported 32% year-over-year revenue growth to $518.7 million. And it's important to realize that the company is profitable, with $12.9 million in net income -- not a massive profit margin, but profitable nonetheless. And it's worth noting that Chime has a fantastic 88% gross margin (in 2024), so there's tremendous potential to increase the bottom line as the business scales. One potential negative (and we've seen this with other fintech companies) is customer acquisition cost. Chime spent a total of $1.4 billion on marketing during the three-year period from 2022-2024. This could be a wise investment if it ultimately results in billions in profits over the long run, but that remains a big "if" for the time being. As the platform continues to grow, marketing needs should decline as a percentage of revenue, but for now it's a bit elevated. As mentioned, Chime's target demographic is Americans who earn up to $100,000 per year, a group the company claims includes about 196 million Americans representing a $86 billion revenue opportunity. Chime's current customer base represents about 4% of this potential customer base. Not only that, but Chime thinks its addressable opportunity can ultimately be about five times this amount ($426 billion) as the platform scales and the company rolls out additional products and services. Of course, investing in IPOs is risky. As mentioned, Chime increased by 37% on its first trading day, but it could easily go in the other direction, or the stock could remain volatile for some time. Having said that, it's clear that Chime's financial solutions are resonating with its target user base. If the company can keep executing on its growth strategy while simultaneously improving bottom-line profitability, it could be a big win for investors who got in at these levels. But be aware that the stock (even if things go well for the business) is likely to be volatile for the first few months at a minimum, and if the business shows any signs of weakness, it could drop quickly. The bottom line is that Chime could be worth a look for risk-tolerant investors, but it would be wise to limit your position size if you choose to invest and average into a position over time. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $370,420!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $37,736!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $657,871!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 9, 2025 Matt Frankel has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Chime Soared Nearly 40% on IPO Day -- but It Could Still Be a Long-Term Home Run was originally published by The Motley Fool
