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Bank, organization gets part of partnership grant

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Updated: 8/30/2013 2:37 pm
DALLAS, Texas (WTVA) -- The Federal Home Loan Bank of Dallas says it has awarded $225,000 through its Partnership Grant Program to assist 22 community-based organizations with their operational needs.

Partnership grants are offered through FHLB Dallas member institutions.

The grants provide funding for the operational needs of community-based organizations involved in affordable housing and community development.

FHLB Dallas matches a member's cash contributions to a community-based organization of $500 up to $5,000 at a 3:1 ratio.

Collectively, FHLB Dallas and its member institutions awarded $309,250 in total grants to community-based organizations in 2013.

"The PGP remains one of the Bank's most utilized programs," said Bank President and CEO Terry Smith. "The demand for the program has again prompted our Board of Directors to allocate funds to help organizations in our members' communities meet their operational needs, and free up funding to accomplish their affordable housing missions."

This year's partnership grants were issued to 25 member institutions.

Several organizations received funding from multiple members.

Starkville area Habitat for Humanity, by way of BancorpSouth Bank received a grant of $3,000.

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