BATESVILLE, Ark., Nov. 19, 2013 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) and First Community Bank are pleased to announce they have awarded two Batesville, Arkansas community organizations $10,000 each through the Partnership Grant Program (PGP).
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Hill Haven Manor, Inc., a senior residential center, will use its grant to pay for engineering services to remodel its existing units to allow for the installation of stackable washers and dryers. Family Violence Prevention, Inc., a nonprofit dedicated to providing services for victims of violence, plans to use its grant to assist with upkeep and deferred maintenance on its local facilities.
Patty Duncan, Family Violence Prevention, Inc.'s executive director, said the funds came at the perfect time.
"Family Violence Prevention is so grateful to have partnered with First Community Bank and the Federal Home Loan Bank of Dallas to receive these funds," said Ms. Duncan. "We will use these funds to help update our shelter, which houses victims of violence."
Pat Dunhegan, executive director of Hill Haven Manor, Inc., said the PGP funds will go a long way toward funding a much-needed project at the senior residential center.
"Hill Haven Manor is a housing complex for the low-income elderly, which was built with a central laundry for the 20 apartments," said Ms. Dunhegan. "The fact that residents have to leave their apartments in inclement weather to access the laundry facility has been a hardship for them because of their physical limitations. Because of limited funding, the organization has not had the wherewithal to install the individual hook-ups but with these partnership grant funds this can now be accomplished."
Through the PGP, FHLB Dallas awards partnership grants through its member institutions, like First Community Bank, to provide funding for the operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches a member's cash contribution to a community-based organization of $500 up to $5,000 at a 3:1 ratio.
"The grant program offered by the Federal Home Loan Bank of Dallas partners with local banks to provide much-needed funds for organizations dedicated to strengthening our communities," said Boris Dover, First Community Bank's president and chief operating officer. "During our sixteen and a half year relationship with the Federal Home Loan Bank of Dallas, our communities have benefited greatly from our joint effort to support local housing and economic development projects. Hill Haven Manor, Inc. and Family Violence Prevention, Inc., recent recipients of partnership grants, are two very deserving organizations that provide housing and services to those in need. We are grateful to the Federal Home Loan Bank for these partnership grants and are delighted to add our contributions to their generous gifts."
Through its member institutions, FHLB Dallas awarded $225,000 in partnership grants in 2013.
"FHLB Dallas is pleased to partner with First Community Bank in providing much-needed funding to two local organizations," said Bre Chapman, senior vice president and director of corporate communications and external affairs at FHLB Dallas. "It is evident that both Family Violence Prevention and Hill Haven Manor provide critical services to the Batesville community, and we are happy to assist them in their efforts."
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 $31.3 billion as of September 30, 2013, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
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