FHLBank Indianapolis announces Money Masters+, new financial literacy scholarship program for foster youth

INDIANAPOLIS, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Today the Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis” or “Bank”) announced the partnerships comprising the first round of its new Money Masters+ Scholarship Program, a financial literacy training program for youth aging out of foster care. FHLBank Indianapolis’ Money Masters Scholarship Program, which debuted in 2023, provides funding for member financial institutions of the Bank to partner with community youth-focused organizations to provide financial literacy education coupled with scholarship opportunities. Money Masters+, a focused version of the original program, specifically targets youth aging out of foster care with financial literacy training, resources and connection with housing assistance programs.

Money Masters Scholarship Program
The first iteration of the scholarship program, known as Money Masters, launched in 2023. Designed to promote financial literacy amongst rising high school seniors, the initial three-year round of the program provided financial education to more than 2,300 students and provided scholarships to 489 students.

“Through Money Masters, we've seen the value of giving young people the knowledge and tools to make informed financial decisions. But we also recognize that not every young person has access to the same resources or support systems. That's what makes the expansion to Money Masters+ so important. For young adults transitioning out of foster care, having access to financial education, guidance, and resources can make a meaningful difference as they navigate independence and begin building their futures,” said Amanda Huszti, Assistant Vice President, Community Impact at Lake Trust Credit Union. “As a credit union dedicated to improving financial wellbeing, Lake Trust is proud to support efforts that help more young people build the confidence, stability, and opportunity they need to thrive.”

Money Masters+: The next iteration
The expanded Money Masters+ Scholarship Program supports foster children who “age out” of foster care. Money Masters+ provides foster youth with the skills and resources needed to support their successful transition into adulthood.

In addition to financial literacy training, students enrolled in the Money Masters+ program will receive financial counseling on an ongoing basis and receive additional housing support and guidance. Scholarship recipients may use the funds for housing, education or other life needs.

“One of the things we value most about this partnership is that it gives young people the chance to practice financial decision-making while they still have support around them. That combination of education, resources, and time to build confidence can make a real difference as they move toward greater independence,” said Ashley Bowen, VP Financial Empowerment at nonprofit partner organization Lacasa, Inc.

“Youth aging out of foster care often face significant financial decisions without the support systems many of their peers can rely on. Money Masters+ helps address that challenge by pairing flexible financial assistance with personalized coaching and financial education,” said Austin Bair, Vice President, CRA & Lending Analytics Officer at Lake City Bank. “We believe this combination can have a meaningful impact on participants' ability to achieve greater financial independence and long-term success.”

The pilot round of Money Masters+ will engage seven member financial institutions through seven partnerships to support 82 youth. FHLBank Indianapolis is proud to announce the following partners administering the Money Masters+ Scholarship Program:

Upcoming opportunities
Money Masters+ funds will be disbursed on a rolling basis. All partners have been selected for the upcoming round of Money Masters+; however, applications can be submitted for the upcoming round of the original Money Masters program, beginning January 2027. Information on the new round of original Money Masters is available now at www.fhlbi.com/money-masters.

For more information on how FHLBank Indianapolis supports affordable housing and community development, see the Community Programs page on fhlbi.com.

Media contact information:
For more information, contact Jeff Mills, SVP, Chief Legal, Corporate and Community Affairs Officer at FHLBank Indianapolis, at jmills@fhlbi.com.

Federal Home Loan Bank of Indianapolis: Building Partnerships. Serving Communities
FHLBank Indianapolis is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to provide access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members’ customers. FHLBanks are privately capitalized and funded, and they receive no Congressional appropriations. One of 11 independent regional cooperative banks across the U.S., FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions.

For more information about FHLBank Indianapolis, visit www.fhlbi.com and follow the Bank on LinkedIn, and Instagram and X at @FHLBankIndy. (Note: Content the Bank shares on its website and social media is not incorporated by reference into any of its filings with the SEC, unless and only to the extent that a Bank filing with the SEC expressly provides to the contrary.)