FOR IMMEDIATE RELEASE
December 17, 2014
Federal Home Loan Bank of Dallas
IBERIABANK and FHLB Dallas Award Grant to Urban Conservancy Helps Promote Small Business Development
NEW ORLEANS, LOUISIANA, December 17, 2014 — A major focus of Urban Conservancy is to grow the local economy through small business development. Thanks to a $6,000 grant from IBERIABANK and the Federal Home Loan Bank of Dallas (FHLB Dallas), the advocacy organization had the resources to host a specialized training to support local business’ continued growth and prosperity.
IBERIABANK is a member of FHLB Dallas and participates in its Partnership Grant Program (PGP), which helps fill a gap in funding so often seen in community-based organizations. FHLB Dallas matches a member’s cash contribution to a community-based organization of $500 up to $5,000 at a 3:1 ratio. In 2014, FHLB Dallas awarded $225,000 in partnership grants.
This is the second partnership grant awarded to Urban Conservancy from IBERIABANK and FHLB Dallas. Dana Eness, Urban Conservancy executive director, says they received a grant two years ago to host a one-day workshop on local investment. This year’s $6,000 PGP award allowed Urban Conservancy to bring in two nationally recognized investment experts who addressed local investment and small-business growth at a one-day “Invest Local Symposium” November 18 in New Orleans.
“New Orleans is a vibrant city that suffered much in the aftermath of Hurricane Katrina, but also learned through that experience just how vitally important our local independent businesses are to our region’s social and financial well-being. We recognize that one of the greatest impediments to growth for the members of our independent business network, StayLocal, is accessing capital, and we developed the Invest Local Symposium to address this,” said Ms. Eness.
IBERIABANK has served as Urban Conservancy’s financial institution for nearly seven years. Ms. Eness says they’ve grown as an organization, in part, because of their relationship with the community bank.
George Dupuy, commercial relationship manager for IBERIABANK’s New Orleans market, says they are pleased to once again utilize the PGP to further efforts to grow small business in New Orleans.
“The Urban Conservancy was able to leverage our contribution with FHLB Dallas’ funds and greatly enhance the impact of November’s Invest Local Symposium. The symposium embraced a similar concept of leveraging different types of financing to make investing locally attractive to a broad range of creative entrepreneurs,” says Mr. Dupuy. “IBERIABANK is very pleased to facilitate this effective use of resources for the advancement of small business in our community.”
Greg Hettrick, vice president and director of Community Investment at FHLB Dallas, attended the check presentation today, and was impressed with how Urban Conservancy is leveraging partnerships to educate and strengthen the New Orleans business community.
“FHLB Dallas understands how important it is to forge strategic partnerships to address challenges and seize opportunities in the community. Through cooperation and collaboration, Urban Conservancy is stimulating the local economy by supporting and promoting businesses,” said Mr. Hettrick. “FHLB Dallas is proud to partner with IBERIABANK in supporting Urban Conservancy’s mission.”
IBERIABANK Corporation is a financial holding company with 280 combined offices, including 187 bank branch offices and three LPOs in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 22 title insurance offices in Arkansas and Louisiana, mortgage representatives in 59 locations in 10 states, eight locations with representatives of IBERIA Wealth Advisors in four states, and one IBERIA Capital Partners, L.L.C. office in New Orleans.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $37.5 billion as of September 30, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.