FOR IMMEDIATE RELEASE
October 14, 2020
Federal Home Loan Bank of Dallas
First National Bank of Louisiana and FHLB Dallas Award $96K to Three Nonprofits
The Grants Will Assist Organizations in Louisiana with Administrative Costs
CROWLEY, LOUISIANA, October 14, 2020 – First National Bank of Louisiana and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded $96,000 in Partnership Grant Program (PGP) funds to Crowley Main Street, Project Build a Future and The Way Training Center.
PGP grants help qualified community-based organizations (CBOs) fund a variety of operational and administrative activities that are critical to serving their communities.
"We are pleased to join the Federal Home Loan Bank of Dallas to help defray administrative costs for these fine nonprofits," said First National Bank of Louisiana in a joint statement issued by CEO Randy Prather and Southwest Market President Greg Webb. "It's no secret that administrative costs can be a real burden for community organizations. We hope that these grants will relieve some of that burden and allow them to focus their energy and existing resources on their programs that are making a true impact in their communities."
The organizations and their uses for the grant money are:
Crowley Main Street, $36,000
Since 1999, Crowley Main Street has secured grants for façade improvements to 18 Main Street buildings. These improvements have spurred $10 million in private investment. The organization also conducts a variety of events to attract visitors to the downtown area. Crowley Main Street plans to use the grant funds for operational, organizational and administrative expenses.
Project Build a Future, $30,000
Since 2001, Project Build a Future in Lake Charles has provided 107 quality, affordable housing units for low-income families in Southwest Louisiana. It also provides financial counseling for prospective homebuyers and other services. The organization will use the grant for land acquisition and for survey, legal, accounting, administrative and construction costs.
The Way Training Center, $30,000
The Way Training Center in Crowley offers an intensive, one-year residential program to help men who struggle with life-controlling problems to become successful citizens. The program also offers follow-up financial and vocational training to help the men become gainfully employed with local businesses. It will use the grant money to remodel and expand its classroom space and to purchase additional computers and technical equipment.
Funding of the PGP was increased by $2 million this year under FHLB Dallas' COVID-19 Relief Program to support CBOs involved in affordable housing activities, stimulating small business development or providing small businesses with technical assistance. For 2020, program parameters also were expanded to include COVID-19 relief.
Through this unique grant program, FHLB Dallas member institutions contribute from $500 to $6,000 to a CBO, which FHLB Dallas matches at a new, higher 5:1 ratio (compared to the previous 3:1 ratio) resulting in a match of up to $30,000. If multiple member institutions contribute to the same CBO in one year, the maximum FHLB Dallas match for those member contributions is $60,000 per year. In both cases, the total grant to the CBO would be the sum of the member contribution(s) plus the FHLB Dallas match. Grants are awarded annually through FHLB Dallas and its member institutions.
"Through the Partnership Grant Program, First National Bank of Louisiana and the Federal Home Loan Bank of Dallas can provide funding to help expand these organizations' ability to serve their communities," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "Without this help, nonprofits often have to use some of their program funds for these costs, and that means less money for the vital community programs they offer."
See the complete list of the 2020 PGP grant recipients. For more information about the 2020 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 $370,000,000 in assets, ensuring personal service 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. Our roots are simple and we strive to provide the same personal touch our foundation was built on.
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 75 billion as of June 30, 2020 is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 805 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.