CANTON, Miss.--(BUSINESS WIRE)--Representatives from BankPlus and the Federal Home Loan Bank of Dallas (FHLB Dallas) joined local dignitaries today to award $17,000 in Partnership Grant Program (PGP) funds to Madison Countians Allied Against Poverty (MadCAAP), whose mission is to assist low-income families by partnering with other nonprofits to provide programs such as housing repair, food drives and financial literacy programs.
This is MadCAAP’s second PGP award, which will be used to supplement the organization’s housing repair programs, said Karen Robison, executive director of MadCAAP.
“The demand for our programs is great, often exceeding our financial capabilities,” said Ms. Robison. “The funds will help us continue to repair homes and build wheelchair ramps for the elderly and disabled residents in our community.”
In addition to providing housing repair to residents of Madison County, the 30-year-old charity also operates a clothing closet, food pantry and an educational program called “New Attitudes,” which covers topics such as computers, reading, and financial literacy as well as fire safety, home maintenance, healthy cooking, job readiness and more.
Ms. Robison discovered the PGP grant through BankPlus.
“BankPlus has worked with MadCAAP for a long time and their mission to alleviate poverty is important to us,” said Mark Ouellette, first vice president and director of the affordable housing program at BankPlus. “The PGP helps us support their mission through operational assistance.”
With the PGP, FHLB Dallas member institutions like BankPlus contribute $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas matches at a 3:1 ratio. This year, FHLB Dallas awarded $300,000 in PGP funds through 25 member institutions to assist 27 CBOs. Combined with FHLB Dallas member contributions, a total of $442,500 has been awarded to the organizations.
“The PGP helps our members strengthen their communities by providing funds to enhance operational capacity. In turn, this helps the organization direct its attention toward boosting its programs,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “We thank BankPlus for their membership and long-time commitment to community investment.”
Ms. Robison said there is a great need for community investment programs such as the PGP in her area.
“Poverty in our area is real,” said Ms. Robison. “We see firsthand the devastating effects poverty has on our community. Having caring and supportive community partners is key to the longevity of our programs.”
To learn more about the PGP, visit fhlb.com/pgp.
BankPlus, with total assets of more than $2.9 billion, has more than 55 locations in 32 Mississippi communities. BankPlus is one of the largest certified Community Development Financial Institutions in the United States. BankPlus offices are located in Belzoni, Bentonia, Brandon, Byram, Canton, Clinton, Durant, Flora, Flowood, Gluckstadt, Hernando, Holly Bluff, Horn Lake, Isola, Jackson, Lexington, Madison, Meridian, Newton, Olive Branch, Pearl, Picayune, Pickens, Poplarville, Quitman, Ridgeland, Shubuta, Southaven, Stonewall, Tchula, Tupelo, Waynesboro and Yazoo City. For additional information on BankPlus, please visit BankPlus.net.
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 $74.5 billion as of June 30, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 810 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.