LAFAYETTE, La.--(BUSINESS WIRE)--Home Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded $8,000 in Partnership Grant Program (PGP) funds to Step Up Acadiana, a nonprofit that provides homebuyer education workshops, pre-purchase counseling and pre-foreclosure counseling. The organization will apply the funds toward operating expenses and to fund a youth financial literacy program for a predominantly low-income local high school. Local dignitaries and bank representatives joined the organization at a recent check presentation.
Emily Huval, director of affordable housing for Step Up Acadiana, said the organization relies heavily on donations and grants.
“We are a small nonprofit and every little bit helps,” said Ms. Huval. “Next year we hope to get certified by the U.S. Department of Housing and Urban Development so we need to send staff members to certain trainings to prepare for the certification.”
This is the organization’s third PGP grant. Home Bank Vice President and Community Reinvestment Act Officer Brandon Kelly facilitated the application process.
“Educating young people is one of the most effective ways to beat generational poverty,” said Mr. Kelly. “The grant funds will help the organization extend its outreach and empower the youth of Acadiana to really ‘step up.’”
With the PGP, FHLB Dallas member institutions like Home Bank 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 Partnership Grant Program forges a path not only for communities to flourish, but also our members to take an active role in that progress,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “Home Bank is a long-time user of the PGP and for that we are thankful.”
Ms. Huval said the PGP is important because funding can be difficult to obtain.
“Grants are not easy to come by,” said Ms. Huval. “We thank the banks for this extra push. It’s going to help our organization so much.”
For more information about the PGP, go to fhlb.com/pgp.
About Home Bank
With 40 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 $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 820 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.