The Federal Home Loan Bank of Dallas (FHLB Dallas) is distributing $1 million in charitable donations to assist communities and FHLB Dallas members with recovery efforts from damage caused by Hurricane Ida. FHLB Dallas is a member-owned financial institution cooperative with approximately 800 members, including 125 member institutions, such as banks and credit unions in Louisiana.
“Hurricane recovery is a long, slow process, and our hearts go out to all who were affected by Hurricane Ida,” says Mike Rigby, FHLB Dallas chairman and east regional president of Bowie-based Legend Bank. “We remain hopeful for Louisiana’s future as it begins the rebuilding process.”
FHLB Dallas has made the following donations:
- Second Harvest Food Bank, $175,000
- World Central Kitchen, $75,000
- All Hands and Hearts, $100,000
- Bayou Community Foundation, $75,000
- Disaster Services Corp., $25,00
- United Way of Southeast Louisiana, $25,000
- Americares, $25,000
- Greater New Orleans Foundation, $500,000
“This funding certainly will have a major impact on the residents and small businesses in the Southeast Louisiana region where we work,” says Kenneth St. Charles, vice president for philanthropy at Greater New Orleans Foundation. He indicates that the grant will be used to support nonprofit agencies that are on the front lines of the Hurricane Ida disaster recovery. “We’ve already made more than $1 million in grants to nonprofits leading the response. We thank FHLB Dallas for stepping up and helping us so we can continue making these lifesaving grants.”
In addition to charitable donations, FHLB Dallas will make available through its member institutions $2.5million in funds from the Hurricane Recovery Grant program, which assists members’ employees who were impacted by the disaster; an additional $500,000 through members via its Disaster Rebuilding Assistance program, which provides repair and rehab funding for qualified owner-occupied housing; and low-cost advances to members through its Disaster Relief Program.