FLOWER MOUND, Texas--(BUSINESS WIRE)--PointBank and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded $18,000 in Partnership Grant Program (PGP) funds to Cloud 9 Charities, which provides temporary housing in local hotels to families in the Flower Mound/Lewisville, Texas, community, giving them time to focus on making long-term plans for a better future. Representatives from the banks joined the organization at a check presentation last week in Flower Mound.
Cloud 9 Charities President Stacey Miller said the organization plans to use the funds toward its Bedtime Rescue initiative, putting the focus on low-income families with children who lack housing.
“The housing need for homeless families and children has grown so much lately, and there are local kids showing up to school in the same clothes every day,” said Ms. Miller. “Bedtime Rescue is just a temporary fix, but it gives families time to create long-term goals and improve their lives. The housing we provide is not anything fancy or high end, but it is much better than where they came from.”
This is Cloud 9 Charities’ first PGP grant. Ms. Miller discovered the program through her local PointBank branch in Flower Mound.
“PointBank is honored to spread the awareness of a growing need in the area we serve,” said Ray David Jr., president of PointBank. “Our partnership with FHLB Dallas enables us to keep providing to overlooked organizations such as Cloud 9 Charities to help homeless families in the community.”
With the PGP, FHLB Dallas member institutions like PointBank 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.
“PGP funds are intended to help community-based organizations with capacity-building efforts, which includes expansion of programs to benefit the community,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “Without our partnership with PointBank, this wouldn’t be possible.”
Ms. Miller said this grant is going to help the organization extend its outreach.
“We never enjoy turning people away due to lack of funds. Thanks to the grant, we are not going to have to do this for a while,” said Ms. Miller.
To learn more about the PGP, visit fhlb.com/pgp.
PointBank has been a REAL, local community bank in Denton County since 1884 when it was known as Pilot Point Bank. Currently, PointBank has nine branch locations throughout Denton County. The David family has led the longstanding financial institution since 1981 and have become known for being REAL People who offer REAL Free Checking and REAL Fast Loan Decisions. To learn more about PointBank, visit pointbank.com. PointBank is a Member FDIC and Equal Housing Lender.
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.