Bank Iowa Donates $30,000 to Support Childcare Center in Colfax
March 7, 2025
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FOR IMMEDIATE RELEASE
Media Contact
Kelly Moore (for Bank Iowa)
515-720-9670
kelly@kmprcollective.com
Bank Iowa Donates $30,000 to Support Childcare Center in Colfax
(Colfax, Iowa – Mar. 10, 2025) — Bank Iowa has pledged $30,000 to support the development of a new childcare center in Colfax. The center, a project started by Colfax Economic Development Corporation (CEDCO), will address the region’s childcare shortage and provide essential services for local families.
CEDCO recently received a $1.7 million Child Care Business Incentive Grant from the State of Iowa, which covers half the cost of constructing this new facility. The new childcare center will be next to Colfax-Mingo Elementary School and accommodate up to 100 children, offering year-round care for infants through school-age children and two preschool classrooms.
“I am honored to be a Bank Iowa representative on the CEDCO Board of Directors,” said Becca Stonehocker, Assistant Vice President and Relationship Manager at Bank Iowa in Colfax. “Not only does this allow Bank Iowa to support the community, but it helps shape the town of Colfax for many years to come.”
To secure the full grant funding, CEDCO must raise commitments for an additional $1.7 million by June 1, 2025. Without these funds, the project will be scaled back. Construction is scheduled to begin in July 2025, with an anticipated project duration of one year.
“The new childcare center is a game changer for our community and school district,” said Tim Salmon, Superintendent of Colfax Mingo Community School District and VP of CEDCO. “It will provide extra space for our preschool program, establish before/after school care for students and solve the childcare issue in Colfax. Bank Iowa’s donation shows their dedication to helping solve these childcare issues.”
CEDCO is actively looking for donations from supporters at all levels.
For more information on how to contribute to this project, contact cedcoiowa@gmail.com or visit cedcoiowa.com.
About Bank Iowa
With more than $2 billion in assets, Bank Iowa ranks as one of the leading independent ag banks and the second-largest family-owned bank in the state. Farmers, families and businesses access Bank Iowa’s products and services through more than 20 locations, as well as online and on mobile devices. To learn more, visit bankiowa.bank. Member FDIC. Equal Housing Lender.