FHLB Dallas and members award $600k to 37 community organizations
More than $600,000 in funding was awarded to 37 community-based organizations (CBOs) by the Federal Home Loan Bank of Dallas (FHLB Dallas) and its members. FHLB Dallas awarded $400,000 in Partnership Grant Program (PGP) grants, and its members provided an additional $200,250.
Through this unique program, FHLB Dallas member institutions contribute $500 to $4,000 to a CBO, a 501(c)(3) nonprofit, which FHLB Dallas matches at a 3-to-1 ratio to provide the CBO up to $24,000 per member and $60,000 per year in grant money. PGP grants are awarded annually through FHLB Dallas’ member institutions and help promote and strengthen relationships between CBOs and members.
“The funds will help our members directly impact their communities by providing nonprofits the means to contribute resources they need to serve their citizens,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.
Among participating Texas members in the program are Wells Fargo in Houston and Texas Bank Financial in Weatherford.