DALLAS, July 10, 2009 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that Habitat for Humanity-Metro Jackson has received a $350,000 Affordable Housing Program (AHP) grant to provide down payment assistance to 35 very low- to low-income families to purchase homes in Hinds, Rankin, and Madison counties in Mississippi.
The AHP grant was made available through BancorpSouth Bank, one of FHLB Dallas's members in Jackson.
"The grant is an incredible tool to help us be able to make the houses affordable for our families," said Cindy Griffin, Habitat-Jackson's Executive Director. "That assistance makes it possible for us to help the very low- and low-income families realize home ownership. It's a dream come true for all of them. This is a great component of our program."
Evelyn Edwards, Vice President of Community Reinvestment for BancorpSouth Bank, said the AHP grants help make the homes more affordable for residents.
"Better housing makes a more stable community, and when there's home ownership, that also creates community pride. You're not creating renters, you're creating homeowners," Ms. Edwards said. "BancorpSouth isn't just interested in making money. We know that if our community isn't surviving and thriving then BancorpSouth can't survive and thrive."
Each year, FHLB Dallas returns 10 percent of its profits to the communities served by member institutions in the form of AHP grants issued through its member financial institutions. In 2009, the Bank has awarded $5.4 million to projects within its five-state District, including $1,288,000 million to projects in Mississippi, resulting in the creation or renovation of 136 housing units in the state.
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 $68.7 billion as of March 31, 2009, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the FHLB Dallas web site at fhlb.com.
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