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DALLAS – (COMMERCIAL THREAD) – The Federal Home Loan Bank of Dallas (FHLB Dallas) will distribute $ 1 million in charitable donations to help communities and FHLB Dallas members recover from the damage caused by Hurricane Ida.
“Recovery from the hurricane is a long and slow process, and our hearts go out to all who were affected by Hurricane Ida,†said Mike Rigby, chairman of the board of directors of FHLB Dallas and chairman of the East Legend Bank area in Bowie, Texas. “We remain hopeful for the future of Louisiana as it begins the process of reconstruction.”
FHLB Dallas is a member-owned cooperative of financial institutions with approximately 800 members, including 125 member institutions, such as banks and credit unions, in Louisiana.
FHLB Dallas made the following donations:
Food aid
Second Harvest Food Bank, $ 175,000
World Central Kitchen, $ 75,000
Immediate relief
All hands and hearts, $ 100,000
Bayou Community Foundation, $ 75,000
Disaster Services Corp., $ 25,000
United Way of Southeast Louisiana, $ 25,000
Americas, $ 25,000
Long term recovery
Foundation of Greater New Orleans, $ 500,000
“This funding is sure to have a major impact on residents and small businesses in the area of ​​southeast Louisiana where we work,” said Kenneth St. Charles, vice president of philanthropy at the Greater New Orleans Foundation.
He said the grant will be used to support nonprofits that are on the front lines of disaster recovery after Hurricane Ida.
“We have already given over $ 1 million in grants to nonprofits leading the response,†he said. “We thank FHLB Dallas for coming together and helping us so that we can continue to provide these life-saving grants.”
In addition to charitable donations, FHLB Dallas will make available through its member institutions $ 2.5 million in funds from the Hurricane Recovery Grant program, which helps employees of members who have been affected by the disaster; An additional $ 500,000 through its members through its Disaster Reconstruction Assistance Program, which provides funding for the repair and rehabilitation of qualified owner-occupied housing; and low cost advances (loans) to members through its disaster relief program.
For more detailed information on the program, visit fhlb.com.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system established by Congress in 1932. FHLB Dallas, with total assets of $ 58.6 billion as of June 30, 2021, is a co-operative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
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