First Federal Community Foundation announced May 26 that it will begin accepting applications for grants in July.

The 501(c)3 private charitable corporation was funded with a gift of $400,000 in cash and 933,360 shares of stock in First Northwest Bancorp, the parent company of First Federal Savings and Loan Association of Port Angeles, upon the bank’s conversion to a public company in January.

As of March 31, the value of First Federal’s gift to its foundation exceeded $12 million.

“We are pleased to announce that we are open for business,” said foundation president David Flodstrom. “With this generous gift, the foundation will build upon First Federal’s legacy of giving back to the communities it serves.”

The foundation will accept applications from communities in which First Federal operates a full-service branch, which includes Clallam, Jefferson and Kitsap counties.

Grants will be considered for proposals that conform to one or more of the foundation’s four giving priorities: community support, affordable housing, economic development and community development.

“We are very excited about the foundation’s potential,” said foundation Executive Director Karen McCormick, formerly the president and CEO of First Federal.

“Of particular interest to us is the opportunity to collaborate with others who are making a difference locally and bring additional resources to projects and programs that will enhance the quality of life for all of us,” McCormick said.

Get more information, including grant guidelines, contact information and a downloadable application, is available on the foundation’s website at www.firstfedcf.org.