Federal Home Loan Bank of Dallas and Red River Bank Award $100K Grant to Acadiana Legal Service Corporation

Funds Will Assist Low-Income Families With Title Issues

LAFAYETTE, La.--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) awarded a $100,000 Heirs’ Property Program grant to Acadiana Legal Service Corporation (ALSC) in a ceremonial check presentation yesterday. The funds, which were awarded through FHLB Dallas member Red River Bank, will be used to increase legal services and assist low-income families to resolve heirs’ property title issues across ALSC’s 42-parish service area.

“Resolving tangled titles promotes community stability by enabling families to invest in and maintain their homes, ultimately benefiting local economic development. For those in disaster-affected areas, clear ownership can also make them eligible for federal and state disaster relief programs,” said Sachida R. Raman, executive director at ALSC. “Overall, resolving tangled titles empowers families, promotes economic stability and growth and strengthens communities.”

Heirs’ property refers to property inherited without a will or legal documentation of ownership. As property is passed down, each successive generation generally results in more heirs being added to the inheritance. The absence of a deed or will can make it more complicated to obtain a clear title to land or homes as time passes.

“Unclear titles on homes and property pose a major problem in this part of Louisiana, particularly for those low- to moderate-income communities,” said Jannease Seastrunk, senior vice president and Community Relations & CRA Officer at Red River Bank.

In 2024, FHLB and 20 participating members awarded $2 million to 33 organizations in our five-state region. The funding will help clear an estimated 560 titles and assist more than 5,670 people with training and education regarding heirs’ issues.

“The ability to own a home helps not only families, but the community itself,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “The Heirs’ Property Program can give families the extra assistance they need to make sure their family’s future is secure.”

For more information about the Heirs’ Property Program, visit fhlb.com/heirs.

About Red River Bank

Red River Bank is a Louisiana state-chartered bank established in Alexandria, Louisiana, in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of its commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and one combined loan and deposit production offices in New Orleans, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area ("MSA"); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes Covington; Acadiana, which includes the Lafayette MSA; and New Orleans. Red River Bank is a subsidiary of Red River Bancshares, Inc., which trades under the trading symbol RRBI on the Nasdaq Global Select Market. Learn more at redriverbank.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 $127.7 billion as of December 31, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.