FHLBank Employees Help Build Habitat Home in Nashville

CINCINNATI, June 8, 2012 (GLOBE NEWSWIRE) -- More than a dozen volunteers from the Federal Home Loan Bank of Cincinnati traveled to Antioch, Tenn., to help build a home today with Habitat for Humanity of Greater Nashville. Each year since 1994, the FHLBank has selected one location from its three-state service area of Kentucky, Ohio and Tennessee, to help with affordable home construction, in support of the FHLBank's Congressionally-established Affordable Housing Program (AHP).

The home is being built for Nashville resident Dayna West and her two children. The home is funded in part from a grant of $1 million from the FHLBank's AHP, awarded in 2010 to Habitat of Greater Nashville and FHLBank member Pinnacle National Bank to help build 40 homes in Davidson County. Joining FHLBank employees were employees of Pinnacle National Bank. Pinnacle and the FHLBank have partnered on grants of $3.4 million, helping to build more than 270 Habitat homes in the Nashville area. "We were delighted to have our partners from FHLBank and Pinnacle National Bank join us today to help build a home for Dayna West and her two children. We truly believe that Habitat is helping build better lives, and we are grateful for the continuing support we receive from the FHLBank in this important work," said Danny Herron, President & CEO, Habitat for Humanity of Greater Nashville.

Also joining the build were workers from the Tennessee Housing Development Agency and other Tennessee Habitat affiliates.

The FHLBank participated in Habitat for Humanity International's national Home Builders Blitz Build this week, with a goal of building 250 homes nationwide. Habitat for Humanity of Tennessee's goal was to finish 40 homes statewide June 1-8.

Andrew S. Howell, who became President and CEO of the FHLBank on June 1, joined bank employees on the build. "Affordable housing is a tangible part of our housing finance mission," he said. "Employees appreciate the opportunity to step outside the office to meet with Habitat families and help build their homes alongside the families and our member institutions."

Through the AHP, the FHLBank has awarded more than $447 million since 1990 to help create more than 59,000 units of affordable housing. Nationally, the 12 banks of the FHLBank System are the largest corporate supporters of Habitat for Humanity, contributing to the construction of one in three Habitat homes. Since 1990, the FHLBank Cincinnati has awarded more than $14 million toward the construction of nearly 1,400 Habitat homes across Tennessee.

The Federal Home Loan Bank of Cincinnati is a $62 billion regional wholesale bank providing financial services for residential housing and economic development to 743 member financial institutions located in the Fifth FHLBank District of Kentucky, Ohio and Tennessee. The FHLBank is rated Aaa by Moody's. The FHLBank System, including 12 district FHLBanks and nearly 7,800 members, was chartered in 1932 by the U.S. Congress to promote housing finance but is wholly owned by its member institution stockholders and does not use taxpayer dollars.