Federal Home Loan Bank of Des Moines (FHLB Des Moines) recently appointed Don Sterhan, President and Chief Executive Officer of CR Builders, LLC, to its Affordable Housing Advisory Council (Advisory Council) representing Montana. Sterhan begins his three-year term on January 1, 2024.
The role of the Advisory Council is to advise the FHLB Des Moines Board of Directors about the affordable housing and community lending needs of the Bank’s district.
“Don brings a wealth of experience and expertise to the Advisory Council,” said Jennifer Ernst, Community Investment Director. “His insight will help enrich Advisory Council discussions and the advice provided to the Board of Directors about ways FHLB Des Moines can support the affordable housing and community development needs in its district. I look forward to working with him throughout the next three years.”
Sterhan is President and Chief Executive Officer of CR Builders, which specializes in creating affordable housing options for families and seniors in communities across a multi-state region. For over 20 years, he has worked directly with banks, developers and investors to provide access to quality projects and oversee placement of equity investment capital, to date, arranging over $270 million in equity capital and managing a portfolio of 62 affordable housing projects with 2,338 rental units.
Sterhan serves as a member of the Governor’s Housing Task Force – Montana, Vice Chair of the Montana Housing Coalition, and past Board Member of the National Association of State & Local Equity Funds (NASLEF).
Sterhan holds a Bachelor of Science in Business Administration from Arizona State University.
For more information about FHLB Des Moines Advisory Council, please visit FHLB Des Moines’ website.
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 Bank is wholly owned by its members and receives no taxpayer funding.
