HOUSTON--(BUSINESS WIRE)--Comerica Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $3,600 Partnership Grant Program (PGP) grant to PowHer Play Inc., a Houston-based organization that supports women in improving their lives. A $4,800 PGP grant to the nonprofit in 2015 brings its total awards to $8,400. The most recent PGP grant will be applied to scholarships for women in transition and to offset expenses of the nonprofit’s annual professional women’s event.
“Comerica Bank and FHLB Dallas are helping us make a real difference in the lives of women who need a leg up,” said Shantera Chatman, founder of PowHer Play, which does business as The Chatman Women’s Foundation. “Through their generosity, we are able to help four ladies with life-changing contributions, which will enable them to go back to school, build businesses, as well as move out of shelters.”
The grant also supports PowHer Play’s annual professional women’s breakfast event. Now in its ninth year, the foundation provides skills training, which includes mentoring, assertiveness, negotiations and updates on corporate trends.
Vanessa T. Reed, assistant vice president of Corporate Public Affairs and Community Reinvestment at Comerica Bank, has attended prior PowHer Play events, leading her to champion support for the women-centered charity within her institution.
“Shantera’s vision of serving others has touched the lives of more than 1,000 Houston-area women from all walks of life since she founded the organization in 2008,” Ms. Reed said. “It has been Comerica’s privilege to support PowHer Play, and we appreciate the many contributions the group has made to our community.”
The structure of the PGP allows FHLB Dallas member institutions like Comerica 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.
“The partnership aspect of this program allows FHLB Dallas to actively support local initiatives and nonprofits that are important to our members,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.
About Comerica Bank
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $73 billion at December 31, 2016.
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 $57.5 billion as of March 31, 2017, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.