Federal Home Loan Bank of Dallas Supports Community Growth

Federal Home Loan Bank of Dallas Supports Local Organizations

In a significant boost for community development, the Federal Home Loan Bank of Dallas (FHLB Dallas) has recently awarded over $1.2 million to 47 community-based organizations. This funding effort was made possible through partnerships with 41 member institutions. By pooling resources, these members contributed $224,914 of the total funding, while FHLB Dallas matched an impressive $1 million via its annual Partnership Grant Program.

How the Partnership Grant Program Operates

The Partnership Grant Program is designed to enhance community relations and provide critical financial support to nonprofits. Under this program, member institutions can donate between $500 to $5,000 to a nonprofit organization. FHLB Dallas amplifies this support with a remarkable 5:1 match, providing up to $25,000 per community organization per member. This initiative fosters collaboration between community-based nonprofits and FHLB Dallas members, ensuring that essential services continue to thrive.

Community Impact Through Collaborative Efforts

According to Greg Hettrick, the senior vice president and director of Community Investment at FHLB Dallas, the program is an excellent opportunity for members to impact their communities meaningfully. The program’s unique structure enables the empowered members to help local organizations flourish, strengthening the community fabric. Hettrick emphasized how crucial it is to have effective initiatives that help sustain and grow these organizations.

Funding Applications and Uses

The funding obtained through the Partnership Grant Program can be utilized for various vital activities, including:

• Building organizational capacity to enhance service delivery
• Assistance in applying for additional grants and funding sources
• Conducting research and studies to inform service improvements
• Acquiring necessary contractual services
• Supporting essential social services in the community

Looking Ahead: 2024 Grant Opportunities

Community organizations interested in gaining financing through the upcoming 2024 Partnership Grant Program can expect robust support to further their missions. FHLB Dallas is dedicated to ensuring the growth and sustainability of these essential services that serve diverse populations across various communities. Organizations are encouraged to prepare and explore ways to maximize the benefits of the program.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is a crucial component of the FHLBank System, established by Congress in 1932. This member-owned cooperative plays an essential role in supporting housing and community development initiatives. With total assets reaching $126.2 billion by mid-2024, FHLB Dallas services a diverse range of approximately 800 members and associated institutions across several states including Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Serving these regions, the bank provides competitively priced loans and other credit products, reinforcing its commitment to fostering local development.

Frequently Asked Questions

What is the Partnership Grant Program?

The Partnership Grant Program is an initiative by FHLB Dallas that matches funds contributed by member institutions to nonprofits in a substantial 5:1 ratio.

How much funding has been distributed through the program?

Recently, more than $1.2 million was awarded to 47 community organizations through this program.

What activities can the grant funds be used for?

The funds can support organizational capacity building, grant assistance, research, contractual services, and social services.

Can any organization apply for these grants?

Nonprofit organizations that align with the eligibility criteria set by FHLB Dallas can apply for the grants.

How can I learn more about FHLB Dallas and its programs?

To discover more, visit the official website where detailed information about programs and grants is available.

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