- December 12, 2019
Funds Will Help Prepare Clients for Sustainable Employment
LAS VEGAS, NEW MEXICO, December 12, 2019 – Wells Fargo Bank in Las Vegas, New Mexico, and the Federal Home Loan Bank of Dallas (FHLB Dallas) yesterday awarded an $8,000 grant to Samaritan House, Inc. in Las Vegas.
Samaritan House, Inc., which provides emergency housing, food and clothing, also helps underemployed and unemployed residents in a three-county area earn a better living and gain self-sufficiency. The Partnership Grant Program (PGP) funds will be used to equip the Samaritan House Day Center and multipurpose classrooms, fund program development, and help develop a how-to manual for providing a consistent regimen of services to clients.
"We want all the people in our area to have a place to live and enough to eat," said George Francis Lyon, executive director of Samaritan House, Inc. "We believe that sustained employment at a living wage is one of the best ways to help them achieve those goals. And that's why we truly appreciate this grant, because it will help us give disadvantaged individuals in our area a chance at a better life."
Wells Fargo Region Bank President David Hockmuth said Samaritan House, for 42 years, has filled a critical need in the communities in and around Las Vegas.
"In an area where the poverty rate exceeds 36 percent, Samaritan House provides services to help people who are economically disadvantaged find sustainable employment. Helping sustain and support our communities is at the heart of our values, and we are happy to support this essential work," he said.
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.
"We are proud to join Wells Fargo Bank in supporting the Samaritan House as it provides people in the Las Vegas area the opportunity to gain more stability in their lives and access to long-term employment," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "By providing a 3:1 match of Wells Fargo Bank's initial funding, we are able to increase the total financial support of Samaritan House to $8,000."
For more information about the 2019 PGP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,500 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 261,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune's 2019 rankings of America's largest corporations. News, insights and perspectives from Wells Fargo are also available at stories.wf.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 $73.8 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.
Federal Home Loan Bank of Dallas