FHLBank Indianapolis Launches Disaster Relief Program to Aid Indiana and Michigan Storm Victims

The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) has announced a new round of financial assistance for homeowners who were impacted by the severe spring storms, tornadoes, and summer flooding that struck communities across Indiana and Michigan earlier this year.

Through its Disaster Relief Program, the bank aims to help residents recover and rebuild by providing direct grant funding to cover essential home repairs caused by natural disasters. The program targets families who might otherwise struggle to afford the cost of restoration after widespread damage from extreme weather events.

Helping Communities Recover from Unforeseen Disasters

This year, Indiana faced multiple rounds of destructive weather from tornado outbreaks and high winds in the spring to significant flooding in north-central counties at the end of June. Many homes sustained structural damage, leaving families displaced or burdened with costly repairs.

Recognizing the urgent need for financial support, FHLBank Indianapolis is mobilizing its member financial institutions to channel aid directly to affected households. The goal, according to the bank, is to ensure a faster and more flexible recovery process for families facing hardship.

“Severe weather like what we saw in many parts of Indiana this spring and summer can devastate communities without notice,” said MaryBeth Wott, Senior Vice President and Community Investment and Strategic Planning Officer at FHLBank Indianapolis. “The Bank is proud to offer flexible tools like Disaster Relief that can quickly help our members and our communities in the recovery process.”

How the Disaster Relief Program Works

The Disaster Relief Program is available exclusively through FHLBank Indianapolis member institutions—banks, credit unions, and other approved lenders. These partners serve as intermediaries, ensuring that the funds reach qualified homeowners in need.

A total of $276,000 in relief funding has been allocated for this round of assistance. The funds will be distributed on a first-come, first-served basis and remain available until December 31, 2025, or until all funds are exhausted.

Qualified households may receive up to $10,000 per household to help cover costs associated with storm or flood damage repairs. To be eligible, applicants must have incomes at or below 100% of the local area median income (AMI) as determined by the U.S. Department of Housing and Urban Development (HUD).

Households must work directly with a participating member financial institution to apply for and access the funds. Once approved, the partnering financial institution will oversee the disbursement to ensure the funds are used for eligible repairs.

Areas Covered by the Relief Initiative

Disaster relief funding is available for affected homeowners across a wide range of Indiana counties, including:

Bartholomew, Brown, Clark, Clay, Crawford, Dearborn, Decatur, Delaware, Elkhart, Floyd, Franklin, Gibson, Greene, Hamilton, Hancock, Harrison, Hendricks, Jefferson, Jennings, Lagrange, Lake, LaPorte, Lawrence, Madison, Marshall, Martin, Montgomery, Morgan, Orange, Owen, Perry, Porter, Posey, Shelby, Spencer, Steuben, Switzerland, Vanderburgh, Vigo, Warren, Warrick, and Washington.

The program also extends to certain Michigan counties, where partner financial institutions operate under the FHLBank Indianapolis service area.

A Decade of Disaster Response

Since its creation in 2013, the FHLBank Indianapolis Disaster Relief Program has become a vital component of the bank’s community investment strategy, designed to provide timely aid in the aftermath of natural disasters. The program has been activated several times over the past decade to support regions hit by severe storms, flooding, or other catastrophic weather events.

This year’s initiative builds upon that legacy, emphasizing FHLBank’s long-term commitment to supporting resilient communities. Beyond immediate financial relief, the bank also works with local lenders to promote disaster readiness and sustainable rebuilding practices, helping homeowners strengthen their properties against future weather-related risks.

Supporting Long-Term Stability

With climate-related disasters becoming more frequent and costly, financial institutions like FHLBank Indianapolis are playing a growing role in community recovery. By combining funding assistance with local partnerships, the bank ensures that support reaches those most in need quickly and effectively.

For homeowners affected by recent storms or flooding, this program offers not just short-term relief but also a renewed sense of stability and hope.

“Every dollar of assistance helps a family get back on their feet, repair their home, and begin to rebuild their lives,” said Wott. “Our mission is to stand beside communities when they need it most—and to help them recover stronger than before.” For direct financing consultations or mortgage options for you visit 👉 Nadlan Capital Group.