FOR IMMEDIATE RELEASE
November 21, 2019
Federal Home Loan Bank of Dallas
$20,000 in Grants Awarded to Project Build a Future of Lake Charles
Funds Will Help Pay for Home Sites and Training
LAKE CHARLES, LOUISIANA, November 21, 2019 – First Federal Bank of Louisiana, First National Bank of Louisiana and the Federal Home Loan Bank of Dallas (FHLB Dallas) yesterday awarded a total of $20,000 in grants to Project Build a Future in Lake Charles, Louisiana.
The Partnership Grant Program (PGP) funds will help the nonprofit organization purchase home sites, improve those sites, develop a smaller home plan and develop new counseling and training for low-income working families seeking to buy a new home.
"The money for training keeps us on top of the evolving needs of our clientele," said Charla Blake, executive director of Project Build a Future. "And the money for developing the smaller house plan and helping to cover land costs will help us reach some people who have not been able to benefit from our program. We're excited by that."
Brad Evans, vice president First National Bank of Louisiana, said the bank feels fortunate to partner with FHLB Dallas in providing funds to Project Build a Future.
"These funds enable Project Build a Future to continue its mission 'to engage in quality, affordable homeownership initiatives that will revitalize and beautify our target area,'" he said. "First National strives to reinvest in our local community to help accomplish that revitalization which will lead to further growth. Every dollar spent within the community that First National is proud to call home contributes to the overall growth and well-being of both our community and its citizens."
Melissa Dickson, CRA coordinator for First Federal Bank of Louisiana, said, "Project Build a Future is one of the few organizations in our community that is dedicated to building quality, affordable housing. The staff is committed to working with their clients to help them overcome adversity and become homeowners. It has been a pleasure to work with such a wonderful organization that not only provides housing opportunities for low- to moderate-income families, but has helped revitalize a whole community."
Through the PGP program, FHLB Dallas member institutions contribute from $500 to $4,000 to a community-based organization, and FHLB Dallas matches at a 3:1 ratio. Grants are awarded annually through FHLB Dallas' member institutions via a lottery system. In 2019, FHLB Dallas awarded $300,000 in PGP funds that were combined with $142,500 contributed by 25 FHLB Dallas member banks for a total of $442,500 in grants.
"It is a true pleasure to join First Federal Bank and First National Bank in making an impact in Lake Charles," said Greg Hettrick, first vice president and director of Community Investment for FHLB Dallas. "By providing a 3:1 match of the banks' initial funding, we were able to raise total financial support to $20,000 for Project Build a Future and its efforts to bring new homeowners to target areas of Lake Charles."
For more information about the 2019 PGP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp.
About First National Bank of Louisiana
Our solid foundation was established in the 1920s on the strength and stability of the local community of Crowley, Louisiana. Since our inception, we have grown to hold over $370 million in assets, ensuring personal service to both consumer and commercial customers as the cornerstone of all we do. Although we still call the original Crowley Skyscraper home, we now include locations in Lafayette, Sulphur, and Lake Charles, each of which provides a variety of commercial and consumer financial products and services. For more information, visit fnb-la.com.
About First Federal Bank of Louisiana
First Federal Bank of Louisiana is a full-service, locally owned, community bank that has helped build the communities we serve for 70 years. With 17 branches serving 11 communities in Louisiana, we are proud to offer our customers a wide variety of products and services to meet all of their financial needs. We offer Personal and Business Checking Accounts, Savings and CDs, multiple Retirement options, Home Equity Lines of Credit, as well as Mortgages and Consumer Loans. Our established Investment and Insurance divisions also offer a full line of products. For more information, visit ffbla.bank.
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 $73.8 billion as of September 30, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 815 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.