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Bulletin No.: 2017-05
February 15, 2017

TO: MEMBERS

SUBJECT: Two Louisiana Parishes Declared Disaster Areas Following Tornadoes

In response to severe storms that occurred in parts of Louisiana last week, the Federal Home Loan Bank of Dallas (Bank) has made available its Disaster Relief Program (DRP) to assist recovery efforts in this state.

On February 11, 2017, Livingston and Orleans parishes were designated as disaster areas by the Federal Emergency Management Agency (FEMA).

Funding under the DRP will be available during the period from February 15, 2017 through August 15, 2017. Individuals and business owners located within state or federally declared disaster areas may apply for the funds through the Bank's member financial institutions.

The DRP makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged or destroyed as a result of the storms. 

Under the DRP:

  • Funds are priced below the Bank's regular Community Investment Program (CIP) rates
  • Income eligibility limits are expanded to 165 percent of the area median income
  • Advances terms range from three months to 40 years
Individuals and business owners located within any parishes that are subsequently declared as disaster areas by the state of Louisiana or FEMA will also be eligible to apply for DRP funds.

For more detailed program information, including application forms and subsequently designated parishes, visit the Bank's website at fhlb.com or contact the Member Services department at 844.345.2265. Thank you for your valued partnership.

Sincerely, 

 

Gustavo Molina
SVP and Chief Banking Operations Officer