Denton Mayor Joins DATCU Credit Union, FHLB Dallas in Awarding $17K Grant to Serve Denton
August 30 2016 - 7:17PM
Business Wire
Local Nonprofit Will Use the Funds to Lower
Overhead Costs for Partner Agencies
Serve Denton today received a $17,000 Partnership Grant Program
(PGP) award from DATCU Credit Union (DATCU) and the Federal Home
Loan Bank of Dallas (FHLB Dallas). Denton Mayor Chris Watts and
DATCU CEO Dale Kimble were joined by representatives of FHLB Dallas
and Serve Denton for the ceremonial award, given at Serve Denton’s
Wheeler House location.
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The nonprofit Serve Denton was awarded a
$17,000 Partnership Grant Program check August 30, 2016. The funds
will be used to reduce overhead expenses for the nonprofit's
partner agencies. The grant was made possible by DATCU Credit Union
and the Federal Home Loan Bank of Dallas (FHLB Dallas). From left:
Dale Kimble, DATCU CEO; Stan Morton, Serve Denton Board Chair; Greg
Hettrick, FHLB Dallas First VP and Director of Community
Investment; and Chris Watts, Mayor of Denton, Texas. (Photo:
Business Wire)
This year’s grant, which will be used for operational expenses,
follows a similar $17,000 PGP grant in 2015 from the same
institutions. The 2015 award helped Serve Denton open its
Assistance and Events Center last fall.
“Serve Denton is a wonderful organization that does tremendous
work for the Denton community,” Mayor Watts said. “This grant will
benefit many people here in Denton who are in need of social
services.”
DATCU’s Mr. Kimble also acknowledged Serve Denton’s
contributions to the community.
“We applaud the wonderful work being done by Serve Denton as
they collaborate with area nonprofits to make people’s lives
better,” he said. “It is an honor to be a partner of the Federal
Home Loan Bank of Dallas because, like credit unions, they believe
in strong communities and are committed to supporting positive
changes in our own backyard.”
Serve Denton, a 501(c)(3) nonprofit, brings together 15
nonprofit organizations at two locations in Denton: the Assistance
and Events Center and The Wheeler House. By leveraging these
economies of scale, Serve Denton is able to provide each nonprofit
with furnished office and meeting space for $100 a month. The
savings allows the organizations to put more of the donations they
receive toward serving the community.
“Serve Denton is humbled, honored, and very grateful to receive
this generous grant from the Federal Home Loan Bank of Dallas and
DATCU Credit Union,” said Serve Denton Executive Director Pat
Smith. “These funds will allow us to do what we do best —
being a force multiplier for our tenants and community partners
using our talents and abilities and serving as a catalyst for
capacity-building.”
Through the PGP, member institutions contribute $500 up to
$4,000 to a community-based organization (CBO). FHLB Dallas matches
the contributions at a 3:1 ratio, which provide up to $12,000 in
grant money to a CBO. In 2016, FHLB Dallas awarded $225,000 in PGP
funds to assist 23 CBOs. Combined with the $96,200 from member
institutions, a total of $321,200 was awarded this year.
“DATCU and Serve Denton demonstrate the exemplary possibilities
of community partnerships,” said Greg Hettrick, first vice
president and director of Community Investment at FHLB Dallas. “We
value this opportunity to serve Denton by multiplying DATCU’s
contribution for the benefit of those in need.”
PGP grants are offered annually through FHLB Dallas’ member
institutions via a lottery system. Funds may be used for research,
organizational capacity-building, grant- and funding-application
assistance, or contractual services.
About DATCU
DATCU Credit Union, founded in 1936, is a full-service, member
owned, not-for profit financial institution. With a long-standing
tradition of exemplary service, they currently serve almost 87,000
members. Membership is open to anyone living or working in Denton,
Cooke, Wise, Montague, or Clay Counties. All are invited to take
advantage of the products and services the credit union offers.
These include checking, savings, credit cards, multiple loan
products, investment products, and insurance. To learn more about
DATCU Credit Union, visit www.datcu.org.
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 created by Congress in 1932. FHLB Dallas,
with total assets of $54.4 billion as of June 30, 2016, is a
member-owned cooperative that supports housing and community
development by providing competitively priced advances and other
credit products to approximately 850 members and associated
institutions in Arkansas, Louisiana, Mississippi, New Mexico, and
Texas. Visit fhlb.com for more information.
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Federal Home Loan Bank of DallasCorporate Communications,
214-441-8445www.fhlb.com