Midwest Food Bank to expand thanks to Treasurer’s

“Opportunity Illinois” program

Wednesday, November 21, 2007

The Midwest Food Bank will open a new warehouse in Peoria thanks to a $750,000 low-interest loan initiated by Illinois State Treasurer Alexi Giannoulias’ Office.

The 25,000-square-foot warehouse, at 9005 Industrial Road, will serve as a food depository for the Peoria region. Volunteers will collect food donations and distribute the products to charities and disaster sites at no charge.

“This Thanksgiving, thousands of Illinois families will depend on Midwest Food Bank for their holiday meals, but their impact on the health of our communities extends far beyond a single day,” Giannoulias said. “This collaboration between state government, private industry and non-profit agencies goes a long way in the fight against hunger and poverty.”

Midwest Food Bank worked with Giannoulias’ Office and Citizen’s Equity First Credit Union to secure a $750,000 low-interest loan to help purchase the warehouse, scheduled to open February 1 with 80 charity clients. An additional $750,000 is being funded through private contributors who prefer to remain anonymous.

Under the Opportunity Illinois program, the Treasurer’s Office agreed to deposit $750,000 at Citizen’s Equity First Credit Union for five years. In exchange, the credit union reduced the interest charged on a loan to Midwest Food Bank, saving it approximately $90,000 in interest.

The loan was approved Monday, in advance of the busy Thanksgiving and holiday season. The food bank is expected to begin moving in early next month.

“We feel honored to take part in this low-interest loan program because it will allow us to feed thousands of more people and pay for many semis full of food and relief for the poor and disaster victims across our state and country,” said Midwest Food Bank’s Peoria Area Director Larry
Herman. “We are also grateful for the many volunteers that keep our costs so low, allowing this low-interest program dollar savings to go directly to those in need.”

Midwest Food Bank, a nonprofit organization, was created five years ago when the David Kieser family began providing food to 10 pantries out of a shed on its family farm. Today, the food bank serves over 500 organizations across the Midwest. The food given out each month reaches more than 100,000 people.

Herman said the food bank hopes to double the number of charities served in the Peoria region by the end of 2008. The warehouse has the capacity to serve roughly 350 food pantries.

Midwest Food Bank receives donations from Cub Foods, local farmers with surplus produce, the Illinois State Department of Agriculture, Archers Daniel Midland Co. and Caterpillar, among other donors. It is open six days a week and relies on volunteer workers from other nonprofits, schools and church groups.