FHLBank Pittsburgh to Aid in West Virginia Flood Relief

OHIO & MARION COUNTIES, W.Va.--(BUSINESS WIRE)--As a result of severe flooding last month in Ohio and Marion Counties, West Virginia, the Federal Home Loan Bank of Pittsburgh (FHLBank) is providing financial support and in-kind donations to aid local communities.

The flash floods caused both loss of lives and extensive damage in our district, and FHLBank has an established history of responding to regional natural disasters.

Today, FHLBank is announcing a $75,000 donation to the West Virginia Chamber Foundation, which has been distributing donated flood relief funds to meet community needs.

In addition to targeted support, FHLBank offers community investment products that support our communities.

• Affordable Housing Program (AHP) – Approximately $57.5 million in grants and subsidized loans in support of affordable housing are available through AHP, plus an additional $17 million in voluntary housing grant initiative funding for affordable housing projects in West Virginia, as well as Delaware and Pennsylvania. These resources can help rebuild affordable housing in the impacted communities. Applications for AHP and voluntary housing grant initiative funding are due on Aug. 7. Awards will be announced on Dec. 11.
• Community Lending Program (CLP) – CLP has an approximately $1.1 billion revolving pool of funds available as flexible, discounted CLP rate advances to FHLBank members. Projects in federal disaster areas qualify for CLP funding, and may be used to assist homeowners and small businesses, and repair infrastructure.

FHLBank will continue to assess the evolving situation in West Virginia, and we encourage our members to contact their Business Development Manager if they would like to learn more.

About FHLBank Pittsburgh

FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia. FHLBank products and resources help support community lending, housing and economic development. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932. Learn more by visiting www.fhlb-pgh.com.