HOUSTON--(BUSINESS WIRE)--Guaranty Bank & Trust and the Federal Home Loan Bank of Dallas (FHLB Dallas) provided $60,000 in Partnership Grant Program (PGP) grants to Houston, Texas-based Shelters to Shutters and Cypress Assistance Ministries (CAM).
Shelters to Shutters, which received $30,000, works to transition individuals and families out of homelessness to economic self-sufficiency by providing full-time employment and affordable housing opportunities through direct partnerships with apartment industry companies.
CAM, which also received $30,000, serves individuals in crisis by providing financial assistance, primarily toward rent and utilities, food for families through a thriving food pantry, special delivery of food and toiletries for elderly and disabled people with a lack of mobility and one-on-one job counseling through its Operation Jobs program.
“While we are a small organization, we have big goals for our program to grow and impact underserved individuals and families who are in need of a hand up,” said Shelters to Shutters CEO Andy Helmer. “The PGP grant provides a huge boost for us to reach our goals financially, as well as a platform to raise awareness about our services for our community.”
According to Mr. Helmer, the PGP funds will be used for organizational capacity building and toward funding a full-time operational lead in Houston to run the program at the local level with support from their national team. This is the organization’s first PGP award. Mr. Helmer said the grant will help provide resources that many can use for the betterment of themselves and their family.
CAM, also a first-time PGP grant recipient, will use the money to assist with rental assistance, utility assistance, job training and employment services.
“This grant allows us to help the whole person and not just put a band-aid on their situation,” said Martha Burnes, CAM’s executive director. “A grant like this allows us to financially support individuals through different job training programs, which then helps them move forward and become self-sufficient by making them more employable.”
Shalene Jacobson, executive vice president and chief risk officer of Guaranty Bank & Trust, said the PGP is crucial for the continuation of programs like these that serve the Houston community.
“There are a lot of citizens who rely upon community programs and affordable resources from local organizations,” said Ms. Jacobson. “At Guaranty Bank & Trust, we appreciate the opportunity to serve and work with organizations like Shelters to Shutters and CAM who address the needs of the community when unexpected events like COVID-19 happen.”
Funding under FHLB Dallas’ PGP was increased by $2 million in 2020 under FHLB Dallas’ COVID-19 Relief Program to support community-based organizations (CBOs) involved in affordable housing activities, stimulating small business development or providing small businesses with technical assistance. The use of funds for these organizations was also expanded to include COVID-19 relief.
Through this unique grant program, FHLB Dallas member institutions contribute from $500 to $6,000 to a CBO, which FHLB Dallas matches at a new, higher 5:1 ratio (compared to the previous 3:1 ratio) resulting in a match of up to $30,000. If multiple member institutions contribute to the same CBO in one year, the maximum FHLB Dallas match for those member contributions is $60,000 per year. In both cases, the total grant to the CBO would be the sum of the member contribution(s) plus the FHLB Dallas match. Grants are awarded annually through FHLB Dallas and its member institutions.
“The PGP funds enable our members to work with community-based organizations to help make a positive impact on their communities,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “Through the PGP, resources can be utilized to extend programs far beyond what was originally available.”
To learn more about the PGP, visit fhlb.com/pgp.
About Guaranty Bank & Trust
Established in 1913, Guaranty Bank & Trust is one of the oldest and most respected banks in Texas. 31 branches can be found across Texas, serving many diverse communities. Guaranty Bank & Trust serves customers through traditional banking services as well as through online and remote banking services. Texas Monthly Magazine has named Guaranty Bank & Trust as one of the Best 100 Companies to work for in Texas for the 11th year in a row. Guaranty Bank & Trust can be found at gnty.com and on Facebook, Twitter, and LinkedIn.
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 $83.8 billion as of March 31, 2020 is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 805 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.