FOR IMMEDIATE RELEASE
January 16, 2019
Federal Home Loan Bank of Dallas
Grant Helps Revitalize Historic Downtown Tucumcari, New Mexico
Tucumcari Federal Savings and Loan Association and FHLB Dallas Award $17K in Grant Funds
TUCUMCARI, NEW MEXICO, January 16, 2019 — One of Route 66's most iconic small towns — Tucumcari, New Mexico — is undergoing a revitalization, thanks in part to $17,000 in Partnership Grant Program (PGP) funds from Tucumcari Federal Savings and Loan Association and the Federal Home Loan Bank of Dallas (FHLB Dallas). The funds were awarded to Tucumcari MainStreet Corporation yesterday during a ceremonial check presentation.
As part of Tucumcari MainStreet Corporation's goal to encourage, foster and stimulate the preservation of downtown Tucumcari, Board President Cooper Glover said the organization wants to take the small-town charm for which Tucumcari is known and breathe new life into the downtown area. The funds will be used to offset operating expenses, support educational opportunities for entrepreneurs and develop fundraising programs.
"We're trying to reinvest in our community and return it to how our residents remember it – a friendly place where everyone knows each other," said Mr. Glover. "The grant funds will help us achieve that goal."
This is the organization's second PGP award.
Tucumcari Federal Savings and Loan Association President David Hale said the PGP supports the mutual thrift's commitment to serve the community.
"Because we are owned by our depositors and borrowers, we have a commitment to the community that has made us what we are today," said Mr. Hale. "The PGP funds help us fulfill that commitment."
The structure of the PGP enables FHLB Dallas member institutions like Tucumcari Federal Savings and Loan Association to contribute $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas matches at a 3:1 ratio. In 2018, FHLB Dallas awarded $300,000 in PGP funds through 31 member institutions to assist 32 CBOs. Combined with the $114,010 contributed by FHLB Dallas members, a total of $414,010 was awarded to CBOs.
"FHLB Dallas members who utilize the PGP strengthen their bond to the community while the community works toward revitalization," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "Through the PGP, members have the opportunity to effect positive change in their communities through the organizations they assist."
To learn more about the PGP, visit fhlb.com/pgp.
About Tucumcari Federal Savings and Loan Association
Tucumcari Federal Savings and Loan Association was founded in 1934 to provide a safe place for residents of the community to deposit their money, and to help residents own their own homes. Tucumcari Federal continues to employ its original philosophy: to provide a safe place for depositors' hard-earned money, pay competitive rates and support homeownership for residents in Quay County. For more information, visit tucfed.com.
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 $73.7 billion as of September 30, 2018, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.