First Hope Bank's $50,000 Grant Boosts Local Non-Profits Efforts
![First Hope Bank's $50,000 Grant Boosts Local Non-Profits Efforts](https://investorshangout.com/images/blog/ihnews-First%20Hope%20Bank%27s%20%2450%2C000%20Grant%20Boosts%20Local%20Non-Profits%20Efforts.jpg)
First Hope Bank Supports Local Non-Profits with $50,000 Grant
First Hope Bank is thrilled to share its recent achievement in securing funding through the Federal Home Loan Bank's programs. This initiative has allowed First Hope Bank to provide a generous $50,000 in financial assistance to local non-profits committed to enhancing their community's welfare. The grant funds have been directed to six worthy organizations that are engaged deeply with the community, especially during challenging economic times.
Benefitting Organizations from the Grant
The grant has been allocated to several organizations, including Project Self-Sufficiency, Ginnie's House Children's Advocacy Center, Family Promise, Domestic Abuse & Sexual Assault Intervention Services, Foodshed Alliance, and the Domestic Abuse & Sexual Assault Crisis Center. Each organization has been chosen based on its commitment and ability to address the pressing needs of the community and to withstand economic pressures fueled by inflation, rising energy costs, and supply chain challenges.
Community Connection and Impact
The presentation ceremony marked a significant occasion, where the funds were awarded personally by First Hope Bank's President and CEO, Dan Beatty. Beatty expressed the bank's deep appreciation for these organizations, highlighting their crucial roles in the community. "We are honored to partner and provide these vital funds that support the essential work of these organizations," he stated. The heartfelt delivery of these funds underscores the bank's commitment to supporting local initiatives that work tirelessly to bring about positive change.
FHLBNY's Program Details
The Federal Home Loan Bank's 2024 Small Business Recovery Grant Program has a total funding pool of $5 million aimed at supporting small businesses and non-profits affected by economic downturns. The six non-profits receiving support through this partnership were awarded grants capable of supplementing their ongoing efforts to meet their community's needs. The support provided to First Hope Bank enables them to identify organizations most in need, ensuring that funding goes directly to those grappling with financial hardships.
Expressions of Gratitude from Non-Profits
In expressing gratitude, Deborah Berry-Toon, Executive Director of Project Self-Sufficiency noted the importance of these funds for their emergency needs assistance programs. The organization emphasizes its commitment to provide avenues for economic self-sufficiency and stability for vulnerable families. This partnership illustrates how community banks like First Hope Bank can play a pivotal role in uplifting the community.
About First Hope Bank
Founded in 1911, First Hope Bank has built a reputation as a trusted full-service community bank in northwest New Jersey. The bank focuses on offering a broad range of financial products and services tailored to meet both consumer and business needs. Through its ongoing commitment, First Hope Bank fortifies its mission to provide impactful financial services and strengthen customer relationships, thereby fostering a thriving community.
Frequently Asked Questions
What organizations received funding from First Hope Bank?
The funding was distributed to six local non-profits, including Project Self-Sufficiency, Ginnie's House, Family Promise, and more.
How much funding did First Hope Bank secure?
First Hope Bank secured a total of $50,000 through the Federal Home Loan Bank's program.
What is the purpose of the FHLBNY's 2024 Grant Program?
The program aims to assist small businesses and non-profits suffering from economic hardships due to inflation and other challenges.
Who presented the grant funds to the organizations?
Dan Beatty, President and CEO of First Hope Bank, presented the grant funds during the ceremony.
When was the grant presentation ceremony held?
The financial awards were presented in early September 2024.
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