GRAND RAPIDS, Mich., July 05, 2022 (GLOBE NEWSWIRE) -- Northpointe Bank believes in the value of building trusted life-long relationships with the communities it serves. Since 2015, Seeds of Promise, a local nonprofit, and Northpointe Bank have administered the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) Neighborhood Impact Program to provide home repair grants up to $7,500 to low- and moderate-income homeowners in our community. These funds are used to restore roofs, windows, siding, exterior doors, furnaces, and water heaters. In nine years, the Neighborhood Impact Program has helped 80 low- and moderate-income homeowners improve their homes.
On Thursday, June 23, Northpointe Bank, Seeds of Promise, and FHLBank Indianapolis hosted an affordable housing workshop. The workshop focused on the development of owner-occupied affordable housing in the Grand Rapids area, specifically targeting the 49507 zip code. The event included brainstorming sessions that identified the best solutions to the affordable housing crisis in Grand Rapids.
Honorary speakers included Rev. Faith Fowler, who led the development of a tiny home community in Detroit benefiting extremely low-income individuals; Sue Ortiz, Chief Programs Officer Habitat for Humanity of Michigan; and Yarrow Brown, Executive Director of Housing North.
Workshop attendees included executives from Northpointe Bank and local nonprofits, local government and neighborhood leadership, city and county commissioners, real estate agents, developers, and builders.
As part of the event, Northpointe Bank and Seeds of Promise were awarded a $10,000 implementation grant from FHLBank Indianapolis. Northpointe Bank donated an additional $30,000 to Seeds of Promise to kickstart this initiative. Members will now form implementation team(s) to put the event's insights and ideas into action. They will focus on engaging our community in development models, recruiting low- and moderate-income Asset Limited, Income Constrained, Employed (ALICE) individuals, and/or African American and Hispanic/Latino prospective small homeowner champions to be part of our implementation team. They will concentrate on building partnerships among attendees and advising on the disbursement of the implementation funds.
Video from the event: https://www.youtube.com/watch?v=l3u_IXsMCEs&feature=youtu.be
About Seeds of Promise
Seeds of Promise is a faith-directed resource hub and Grand Rapids community organizer. The community determines what Seeds of Promise does, how it does it, and who it does it with, so community residents' voices are heard and their needs are met.
About Northpointe Bank
Northpointe Bank works to be a different kind of bank, putting "you" at the center of everything they do. For the previous nine years, Independent Community Bankers of America® has ranked Northpointe Bank as a top-performing bank in the nation out of approximately 5,000 ICBA member banks*. To learn more about Northpointe, visit www.northpointe.com.
About Federal Home Loan Bank of Indianapolis
FHLBank Indianapolis is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members' customers. FHLBanks are privately capitalized and funded, and they receive no Congressional appropriations. One of 11 independent regional cooperative banks across the U.S., FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions, and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.com and follow the Bank on LinkedIn and Twitter (@FHLBankIndy).
Contact:
Michael J. Winks, President Lending & Retail Banking
(616) 974-8406 michael.winks@northpointe.com
* - Source: Best Performing Community Banks; Independent Community Bankers of America ranked Northpointe Bank as best performing bank according to return-on-equity for banks with assets over $1 billion.
Related Images
Image 1: Affordable Home Ownership Collaboration Workshop
As part of the event, Northpointe Bank and Seeds of Promise were awarded a $10,000 implementation grant from FHLBank Indianapolis. Northpointe Bank donated an additional $30,000 to Seeds of Promise to kickstart this initiative
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