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Member Bulletin

  • April 28, 2023
  • Bulletin No: 2023-10

Additional Resources for Storm Recovery in Arkansas and Mississippi

In response to the recent devastation caused by severe storms and tornadoes in Arkansas and Northeast Mississippi, the Federal Home Loan Bank of Dallas (Bank) is providing additional funding and charitable donations that include small business recovery grants, member employee recovery grants and charitable contributions.

The Bank is offering the following assistance:
 
Small Business Recovery Grants: $2.5 million total, with grants up to $20,000 per eligible business to support at least 125 small businesses in Arkansas and Mississippi. A member limit of $200,000 will be applied for the first 90 days the grants are offered, but this limit will not apply to grants made to small businesses in Sharkey County, Mississippi.
 
Member Employee Recovery Grants: $500,000 total, with grants up to $4,000 per person to provide immediate storm recovery relief. This program is for member employees only, both renters and homeowners, and is available to member employee households that earn up to 165 percent of the area median income for their particular eligible county.
 
The Bank will host a webinar at 10:00 a.m., Tuesday, May 2, to provide technical assistance and answer questions about the application process. Beginning May 3, applications for both grant programs will be made available via SecureConnect. Applications should be submitted to Member Services at Member.Services@fhlb.com for processing.
 
Charitable contributions totaling $1 million to five organizations:

  • $125,000 to Eight Days of Hope, Tupelo, Mississippi, for rapid recovery and long-term rebuilding assistance for Northeast Mississippi
  • $125,000 to CREATE Foundation for the North Mississippi Relief and Recovery Fund to provide financial support to impacted employees
  • $250,000 to the Kentucky Bankers Relief Fund, a collaboration with the Arkansas Bankers Association to assist with disaster relief efforts in Arkansas
  • $250,000 to The Heart of the Delta Foundation, created by several banks in the Mississippi Delta to assist impacted communities
  • $250,000 to Community Foundation of Washington County to assist communities in Mississippi with storm recovery in Rolling Fork, Mississippi, and other neighboring communities  
The Bank previously announced the availability of its Disaster Relief Program, which makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged. The Bank has also activated its Disaster Rebuilding Assistance program, which provides grants for the repair and rehabilitation of owner-occupied housing affected by a disaster event in federally declared disaster areas eligible for individual assistance within the Bank’s District. See bulletins for Arkansas relief efforts (B2023-09) and Mississippi relief efforts (B2023-08) for details or contact Member Services at 844.FHL.BANK (844.345.2265).

Sincerely,
 
Sanjay K. Bhasin
President and Chief Executive Officer