SHREVEPORT, La.--(BUSINESS WIRE)--With a leaking ceiling and outdated, exposed wiring, 70-year-old Theresa Kimble didn’t just have a problem – she had a fire hazard.
“It’s a very old house and it needed a lot of work,” said Ms. Kimble, who lived in her home until she got married, and moved back after her mother passed away. “They said if I didn’t get a new roof, the house was going to fall in.”
Ms. Kimble, who is semi-retired and works part-time as a housekeeper, learned about the Special Needs Assistance Program (SNAP) from her cousin, who suggested that she contact Red River Bank and apply for a grant. She received $5,750 in grant funds from Red River Bank and FHLB Dallas, which replaced her roof and updated the wiring of her home.
SNAP grants assist income-qualified, special-needs homeowners with necessary home repairs and modifications. The grants are awarded by FHLB Dallas through participating member institutions, such as Red River Bank.
“Everyone deserves a safe, decent place to live,” said Judy Madison, assistant vice president, Community Outreach, Mortgage Lending at Red River Bank. “Thanks to SNAP, Ms. Kimble can live more comfortably in her home.”
Since SNAP’s inception in 2009, more than $11.6 million has been awarded in grants through FHLB Dallas member institutions to assist more than 2,300 families across FHLB Dallas’ five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. In 2016, FHLB Dallas awarded nearly $1 million in SNAP grants that assisted 205 families. The 2017 SNAP funding, made available in January on a first-come, first-served basis, has been exhausted.
Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said the repairs to Ms. Kimble’s home exemplify the true nature of FHLB Dallas’ partnership with its member financial institutions through community investment.
“There is a great need for programs such as SNAP across our District,” said Mr. Hettrick. “SNAP brings more value to members and improves the lives of local seniors, allowing them to stay in their home longer than they might otherwise.”
Ms. Kimble said receiving the SNAP grant changed her life for the better. Now that her home’s wiring is updated, she can install a central heating and cooling system.
“I used to hear the rain,” she said. “Now, with the new roof, I don’t even know when it’s raining. This grant has been a blessing.”
About Red River Bank
Red River Bank is a full service community bank headquartered in Alexandria, Louisiana. Red River Bank was chartered in 1998 in Rapides Parish and began operating its first banking center in Alexandria in 1999. Red River Bank offers consumer and commercial banking services and products, mortgage lending services, and investment services.
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.