LAFAYETTE, La.--(BUSINESS WIRE)--Approximately 300 low- to moderate-income individuals — many of them single mothers — have been helped by the nonprofit Step Up Acadiana, which provides homeowner pre-purchase counseling and education, and foreclosure prevention services.
The organization received a $12,000 Partnership Grant Program (PGP) award from Home Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) during a ceremonial check presentation Friday. The grant will enable the organization to add to its four-person staff to help more people and to pay for home counseling certification for its employees.
Step Up Acadiana was founded in 2016 by Kevin Davis, who serves as its executive director, in answer to a need in his community.
“I believe that wealth is built through homeownership, and I saw a disparity because of economic divides,” he said. “I’m so glad that the banks see the need for affordable housing. Their involvement benefits us because it helps people to trust the program.”
This is the second PGP award the organization has received. A $10,000 award it received in 2017 also was used for staff certification and expansion.
Through this unique program, FHLB Dallas and its member institutions, such as Home Bank, contribute $500 up to $4,000 to a community-based organization (CBO), which FHLB Dallas matches at a 3:1 ratio to provide the CBO up to $12,000 in grant money. In 2018, FHLB Dallas has awarded $300,000 in PGP funds through 31 member institutions to assist 32 community-based organizations. Combined with the $114,010 contributed by FHLB Dallas members, a total of $414,010 has been awarded to the organizations.
“Being able to help people purchase a home or to avoid foreclosure is an important undertaking, and Home Bank is excited to assist Step Up Acadiana in its work,” said Brandon Kelly, Community Reinvestment Act director at Home Bank. “We’re so happy to partner with FHLB Dallas in contributing to the betterment of the community.”
Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said helping members help their communities is the foundation of the FHLB Dallas mission.
“Homeownership is a dream that more people are able to realize thanks to the efforts of Step Up Acadiana,” said Mr. Hettrick. “Partnering with member banks such as Home Bank to strengthen the community is part of the FHLB Dallas mission.”
About Home Bank
With 39 locations across South Louisiana and Western Mississippi, Home Bank is committed to serving the needs of its communities. Personal banking has always been Home Bank’s trademark, and that tradition continues as the company grows, invests and serves its clients and community. For more information about Home Bank, visit home24bank.com.
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 $73.7 billion as of September 30, 2018, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.
