- August 01, 2019
DALLAS, TEXAS, August 1, 2019 — The Dallas Area Habitat for Humanity (Habitat) and employees of the Federal Home Loan Bank of Dallas (FHLB Dallas) joined Anitra Collins and her family in celebrating the completion of her new home. The project, which was completed in July, was recently honored in a dedication ceremony at the FHLB Dallas offices.
The home was built for Ms. Collins and her children, who in addition to receiving the key to the house, received various house-warming gifts from Habitat and FHLB Dallas.
Every year, FHLB Dallas chooses a corporate charity to support for the year. After working with Dallas Area Habitat for Humanity in 2015, the financial institution decided to align its efforts with the organization once again. More than 150 employees volunteered between April and June to build a three-bedroom, two-bathroom home for Ms. Collins and her family.
"On behalf of FHLB Dallas, I am both proud and humbled to have been a part of this experience," said FHLB Dallas President and CEO Sanjay Bhasin. "The hands-on participation in the building of Ms. Collins' new home enabled us to live out our corporate value, Do Good, and make homeownership a reality for her and her family."
Habitat's mission is to bring people together to build homes, communities and hope in Dallas County. Prospective homeowners who meet the financial qualifications work with the organization and volunteers to build their homes and must complete a series of homeowner education classes that provide information on topics such as savings accounts, credit management, insurance, taxes, creating a will and home maintenance.
The mortgage is provided at zero percent interest and the homeowner does not provide a cash down payment. Instead, homeowners complete 250 hours of "sweat equity" on the home, alongside volunteers.
Habitat Director of Development Jim Campbell said the organization relies on corporate partnerships and volunteerism to bring each project to fruition.
"A lot of sweat equity is needed to complete a Habitat home," said Mr. Campbell. "Every person who donated time and talents to this project is appreciated and we're thrilled to have had partnered with FHLB Dallas again this year to help Ms. Collins realize her dream of homeownership."
Since 1982, Habitat has worked with families and sponsors to build more than 1,700 homes in neighborhoods such as Bonton, where Ms. Collins' home was built. Developed in the early 20th century, the Bonton neighborhood is located in south Dallas along the Texas Buckeye Trail. With the help of volunteers, Habitat has built 133 new homes and made repairs to 39 homes. There are currently 424 single-family homes in the neighborhood.
"I reached out to Habitat because I was tired of renting and wanted a home of my own where my children could grow," said Ms. Collins. "Building my own home was a great experience. My happiest memories were getting to see everybody who came out to help. I want to say, 'thank you' to the FHLB Dallas family for helping me through this."
Bre Chapman, executive vice president and chief administrative officer at FHLB Dallas, said giving back to the community is at the heart of what FHLB Dallas does.
"Every day, our employees work behind the scenes to support our members and their communities," she said. "This experience gave them a chance to apply their generosity directly to help Ms. Collins give her family a home of their own."
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 $69.0 billion as of March 31, 2019, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 820 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.
Federal Home Loan Bank of Dallas