The Federal Home Loan Bank of Dallas (FHLB Dallas) has had a busy summer partnering with numerous financial institutions to award funding to community-based organizations as part of its Partnership Grant Program (PGP). FHLB Dallas serves approximately 800 members and associated institutions across its five-state district of Arkansas, Louisiana, Mississippi, New Mexico and Texas. In 2022, the bank awarded $400,000 in PGP grants and its members provided an additional $158,985 for an impact of $558,985 in the district.
Through the PGP program, FHLB Dallas member institutions contribute $500 to $4,000 to a community-based organization (CBO), a 501(c)(3) nonprofit, which FHLB Dallas matches at a 3:1 ratio to provide the CBO up to $12,000 per member. PGP grants are awarded annually through FHLB Dallas’ member institutions to help promote and strengthen relationships between CBOs and FHLB Dallas members. PGP grants help qualified nonprofit organizations fund a variety of operational and administrative activities that are critical to serving their communities.
Here are just a few of the PGP grants recently awarded by FHLB Dallas and its partners/members:
Dallas-based Veritex Community Bank and FHLB Dallas awarded $10,000 in PGP funding to Woman Inc., a Houston nonprofit that creates housing for women leaving abusive or high-risk situations.
“Woman Inc. is making a positive difference in the Houston community and serves as a vital resource for women who are in dire situations,” says Courtney Taylor, Veritex Bank’s senior vice president of community development. “It is an honor for us to be able to provide this funding through our partnership with FHLB Dallas.”
Jacksonville-based Austin Bank, Texas NA and FHLB Dallas awarded $8,000 in PGP funds to Legacy Institute for Financial Education (LIFE), which teaches financial literacy to create economic stability and generational wealth. Lufkin-based LIFE plans to use the grant proceeds for its Financial Opportunity Center and Next Chapter program to address the needs of residents who have no transportation or have difficulty paying high gas prices because of unemployment or underemployment. It also plans to use proceeds to support the sustainability of its LIFE Skills employment training programs.
FHLB Dallas joined Jacksonville-based Austin Bank, Houston-based Cadence Bank, Tyler-based Southside Bank and Henderson-based VeraBank to award $37,000 in PGP funding to Lufkin-based Neighborhood STRONG. The organization assists elderly disabled and economically disadvantaged homeowners in Angelina and adjacent counties to repair homes for improved accessibility. The grant proceeds will be used for salaries, training and costs associated with applying for additional sources of funding.
Westlake-based Charles Schwab Bank and FHLB Dallas awarded $16,000 to Housing Opportunities of Fort Worth (HOFW) Inc. HOFW helps low-to-moderate-income families access and maintain affordable homeownership. The organization works with clients one-on-one to provide homebuyer education and loan counseling.
“Housing Opportunities of Fort Worth is making a huge difference for local homebuyers because they provide vital services to the community,” says Andrea Glispie, senior manager of community development with Charles Schwab Bank.
FHLB Dallas and six member institutions—Allegiance Bank (Houston), Comerica Bank (Dallas), Hancock Whitney (Gulfport, Mississippi), Home Bank (Lafayette, Louisiana), Prosperity Bank (El Campo) and Third Coast Bank (Humble)—awarded $39,000 to The BridgePath in Houston. The organization’s mission is “to provide expert, comprehensive and fundamental personal financial education to families, individuals and small-business owners by creating a collaborative environment with the goal of empowering communities.”
Fort Worth-based NBT Financial Bank, Graham-based Ciera Bank and FHLB Dallas awarded $12,000 to Nature’s Open Door Outreach Services, a Fort Worth nonprofit that primarily serves the Kennedale and Lillian communities. Nature’s Open Door works closely with farms in the Fort Worth area to support the local economy through a food system network that provides nutritious meals and access to educational resources on how to grow food to low-income residents. Since 2019, the nonprofit has been providing these resources to children, senior citizens, those struggling with access to grocery stores and agricultural entrepreneurs. Students learn about food cultivation and can start their own farm operation or pursue employment opportunities related to their newfound knowledge and skills.
“Organizations like Nature’s Open Door help to keep communities healthy and thriving,” says Lacy Bond, NBT Financial Bank’s first vice president and compliance officer. “We are thankful that our investment in this amazing organization could be multiplied with the PGP match from FHLB Dallas.”
In September, representatives from Killeen-based First National Bank Texas and FHLB Dallas joined associates from San Antonio-based Housing Assistance for Veterans (HAVEN) to present U.S. Army veteran Daniel Geiger with a $10,000 grant. HAVEN funds assist with necessary modifications to homes of U.S. veterans and active-duty, reserve or National Guard service members who became disabled as a result of their military service since September 11, 2001. Alternatively, the funds can be awarded to Gold Star Families that were impacted during this time frame for home repairs/rehabilitation. A recently announced pilot program also allows use of funds for down payment and closing cost assistance.
During his more than 10-year military career, Geiger discovered that the physical demands of his job had exasperated an undiagnosed genetic disease. Working as a construction vehicle mechanic and nurse in the U.S. Army took its toll. He developed post-traumatic stress disorder (PTSD) and claustrophobia and was medically discharged after being diagnosed with Hypermobile Ehlers-Danlos Syndrome (hEDS), a genetic connective tissue disorder. The small, enclosed shower in the family’s main bathroom triggered Geiger’s PTSD and the old tile flooring was hard to maintain due to shoulder damage caused by hEDS.
“My shoulder went out after my first deployment in Afghanistan,” Geiger says. “I’m 32 years old and my doctor said I looked like I had the body of a 72-year-old paratrooper.” During his military career, he went on to have two deployments to Afghanistan.
Now, Geiger and his family have an updated bathroom complete with new easy-to-clean floors, a larger shower that does not induce claustrophobia and new sinks.
See a complete list of the 2022 PGP grant recipients. For more information about the 2022 PGP grants and other FHLB Dallas community investment products and programs, click here.