HOUSTON--(BUSINESS WIRE)--Comerica Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded a $10,000 Partnership Grant Program (PGP) grant to PowHer Play, a Houston-based organization that supports women in improving their lives. PowHer Play is primarily a volunteer-operated organization that empowers women through motivational conferences, scholarships and grants.
The grant was awarded today at the organization’s 2018 Professional Women’s Breakfast. Founder and Executive Director of The Chatman Women’s Foundation Shantera L. Chatman said this grant will go toward helping to offset operational costs associated with annual events, scholarships and the mentoring program.
“Because of this grant, we have the opportunity to provide funds for even more women than before in the Houston area,” said Ms. Chatman. “We are truly grateful for the partnership with Comerica Bank and FHLB Dallas that allows us to continue to empower women to develop their individual ‘PowHer.’”
This is the fourth PGP grant awarded to the nonprofit in four years. The 2017 grant was applied to scholarships for women in transition, capacity-building and contractual services. Grants in 2015 and 2016, each for $4,800, bring PowHer Play’s total PGP grants, including the 2017 and 2018 awards, each for $10,000, to $29,600.
Comerica Bank’s Houston Market President J. Downey Bridgwater said the PGP allows Comerica to satisfy its commitment to reinvest in the community.
“The PGP allows Comerica to honor its commitment of enhancing and helping educate the communities where we live and work,” said Mr. Bridgwater. “We are so grateful for our continued partnership with FHLB Dallas.”
Through this unique grant program, FHLB Dallas member institutions contribute $500 up to $4,000 to a CBO, which FHLB Dallas matches at a 3:1 ratio to provide the CBO up to $12,000 in grant money. The PGP also complements the development activities fostered by FHLB Dallas’ Affordable Housing and Community Investment programs. For 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.
“We’re proud to partner with Comerica Bank to help empower Houston women through the PGP,” said FHLB Dallas Vice President and Affordable Housing Program Manager Bruce Hatton.
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 $72.0 billion at June 30, 2018.
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 $75.9 billion as of June 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.