BELZONI, Miss.--(BUSINESS WIRE)--Guaranty Bank & Trust Company and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded $16,000 in Partnership Grant Program (PGP) grant funds to Mississippi Community Financial Access Coalition (MCFAC). Bank and project representatives presented the funds at a ceremonial check presentation Friday.
MCFAC will use the PGP funds for organizational capacity building, to hire grant-writing consultants and for market research studies. This is the organization’s second PGP award.
“MCFAC partners with other community organizations, social services agencies and financial institutions to provide financial literacy training programs to Mississippi’s unbanked, under-banked and underserved population,” said Latah Holloway, program director at MCFAC. “The grant funds will help us advance our mission in a meaningful way.”
The structure of the PGP enables FHLB Dallas member institutions like Guaranty Bank & Trust Company 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.
“The community benefits from the PGP because the funds enable the organization to focus on its mission,” said Clifton Williams, community development officer of Guaranty Bank & Trust Company. “We as a financial institution also benefit because it increases our impact in the community.”
In 2018, FHLB Dallas awarded $300,000 in Partnership Grant Program (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.
“The PGP helps promote and strengthen the relationships between FHLB Dallas members and local organizations,” said Melanie Dill, community and economic development product manager at FHLB Dallas. “Additionally, FHLB Dallas’ matching contribution emphasizes the partnership aspect of this program, making it a win-win for everyone.”
About Guaranty Bank & Trust Company
Guaranty Bank & Trust Company is locally-owned and operated since 1943. As of September 30, 2018, assets have grown to $824 million by delivering top-notch services and products to Mississippi and the surrounding areas. Providing personalized, quality customer service and the best in banking products have been their goal from the very beginning. As a responsible leader in economic development, they strive to be an instrumental member of their local communities through actions and involvement of their employees. Since the start, Guaranty Bank has been driven to do their part to help Mississippi communities and community members excel.
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.
