Banks Awarded $20K Grant to Help Boost Four Corners Economy

Bank of the Southwest, Four Corners Community Bank and FHLB Dallas Awarded Grant

Four Corners Economic Development Foundation received $20,000 in Partnership Grant Program funds through Bank of the Southwest, Four Corners Community Bank and the Federal Home Loan Bank of Dallas on Friday. (Photo: Business Wire)

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FARMINGTON, N.M.--()--Four Corners Economic Development Foundation (4CED) received $20,000 in Partnership Grant Program (PGP) funds through Bank of the Southwest, Four Corners Community Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas). The funds will be used to help implement programs that help to bolster the organization’s business sector and workforce.

Representatives from the banks were joined by the organization’s leadership and Pete Valencia, field representative for U.S. Representative Ben Ray Luján (District 3), at a check presentation on Friday announcing the grants.

“Thank you for your support of the economic development effort in San Juan County,” said Farmington Mayor Tommy Roberts. “This grant demonstrates the commitment of our banking partners and stakeholders to the economic growth and well-being of Farmington and San Juan County. Success in the economic development game is the result of community-wide effort and support, and I acknowledge and appreciate the contributions of FHLB Dallas, Four Corners Community Bank and Bank of the Southwest.”

Warren Unsicker, president and CEO of 4CED, said the grant allows the organization to make a greater impact on the community.

“Having engaged, community-oriented financial institutions is a cornerstone to job creation in the Four Corners region,” he said. “The access to capital that they provide is crucial to both growing existing businesses and helping fund entrepreneurs and start-ups. We could not do it without them.”

Previous 4CED programs the PGP has supported include the Real People Real Jobs Opportunity Expo, an event at which several hundred displaced and underemployed workers were connected with local employers offering more than 800 jobs. Job seekers were offered financial planning to protect and maximize their retirement/severance packages, as well as networking opportunities.

“Communities thrive when financial institutions and nonprofits work together toward economic development,” said Bank of the Southwest Senior Vice President and former 4CED Chairman Georgia Gramlich. “Since we can only donate so much money or volunteer so many hours, by taking advantage of the PGP offered through FHLB of Dallas, we can maximize our support for the economic benefit of our community. We are proud to support the local entrepreneurial spirit through the PGP.”

The structure of the PGP allows FHLB Dallas member institutions like Bank of the Southwest and Four Corners Community Bank to make a contribution of $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas will match at a 3:1 ratio. In 2016, FHLB Dallas awarded $225,000 in PGP funds to assist 23 CBOs. Combined with the $96,200 from member institutions, a total of $321,200 was awarded last year.

“Our bank is committed to expanding the communities we serve,” said Sheila Mathews, Four Corners Community Bank president and CEO. “The PGP helps us continue our mission to support programs that promote financial literacy and economic progress.”

Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said the PGP provides a unique service to member institutions.

“The Partnership Grant Program helps promote and strengthen relationships between community-based organizations and community banks such as Bank of the Southwest and Four Corners Community Bank,” he said. “Thanks to our members for their commitment to developing commerce and entrepreneurship.”

About Bank of the Southwest

Originally chartered in 1930, Bank of the Southwest has been serving customers in New Mexico for more than 85 years. A New Mexico family owned bank, and headquartered in Roswell, the bank has 11 branches located throughout the state. Georgia Gramlich, Senior Vice President, is the Division Manager for the five branches located in San Juan County. Georgia has also served on the Executive Board of Four Corners Economic Development Corporation for the last four years, including Chairman in 2016. Bank of the Southwest specializes in commercial, agricultural, small business and consumer lending. Our bank also offers a full range of deposit and other banking products tailored to the needs of our customer. Outstanding and personal customer service is a hallmark of our business as is our financial and employees’ involvement and commitment to our local communities.

About Four Corners Community Bank

Four Corners Community Bank (FCCB) was established in 2000 by President and CEO, Sheila Mathews, Board Chairman, Frank Macaluso, Vice Chairman, Greg Anesi, Board Secretary, Felix Briones, and Board Member, Ed Armstrong. These same five individuals continue to serve on the bank’s board of directors today. Headquartered in Farmington, New Mexico, Four Corners Community Bank serves the Four Corners region with seven locations; each is a full-service financial institution equipped to handle complete personal and business banking services. The bank offers competitive, locally-based financial services and solutions tailored to fit the needs of its customers. FCCB prides itself on being safe, sound, and local and is dedicated to providing better than expected service to the communities it serves. For more information, visit TheBankForMe.com. Member FDIC. Equal Housing Lender.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $58.2 billion as of December 31, 2016, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.

Contacts

Federal Home Loan Bank of Dallas
Corporate Communications, 214-441-8445
fhlb.com

Release Summary

Four Corners Economic Development Foundation received $20,000 in Partnership Grant Program funds through Bank of the Southwest, Four Corners Community Bank and FHLB Dallas on Friday.

Contacts

Federal Home Loan Bank of Dallas
Corporate Communications, 214-441-8445
fhlb.com