FORT WORTH, Texas, Sept. 4, 2015 /PRNewswire-USNewswire/
-- Housing Opportunities of Fort
Worth and the Fort Worth Business Assistance Center
Education Foundation each received an $11,000 Partnership Grant Program (PGP) award
from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Comerica Bank, an
FHLB Dallas member institution.
Representatives from FHLB Dallas and Comerica Bank attended a
check presentation today in Fort
Worth with the grant recipients — Housing Opportunities of
Fort Worth (HOFW) and the Fort
Worth Business Assistance Center (BAC) Education Foundation.
"Comerica Bank is honored to help sustain these vital nonprofits
in their support of our community," said Lueretha J. Slack, vice president and North
Texas CRA Market Manager for Comerica Bank. "This particular grant,
which allows us to partner with FHLB Dallas, leverages our
contribution with matching funds, so more people may be
served."
PGP awards provide grants up to $12,000 to community-based organizations (CBOs).
The funds may be used for research, organizational
capacity-building, grant- and funding-application assistance, or
contractual services. Through the PGP awards, FHLB Dallas matches a
member's contribution to a CBO of $500 up to $4,000
at a 3:1 ratio. The grants are offered via a lottery system once a
year through FHLB Dallas members. In 2015, FHLB Dallas awarded
$225,000 in PGP funds to support 25
organizations. For more information, visit
fhlb.com.
HOFW was established in 1988 to help low- to moderate-income
individuals access and maintain affordable homeownership. In that
time, HOFW has provided free, one-on-one counseling in English and
Spanish to more than 22,600 homebuyers and owners, and has helped
more than 8,300 residents avoid foreclosure.
"Our partnership with Comerica Bank and FHLB Dallas is extremely
important to us because it helps us leverage funds from private
foundations," said David O'Brien,
Jr., HOFW founder and executive director. "It's much easier
to go to a foundation or a private contributor for funding if they
know the industry supports your work."
HOFW will use the funds to increase and improve its capacity to
better serve clients with homebuyer education, housing counseling,
and reverse-equity mortgage counseling.
The Fort Worth BAC was founded in 1999 by the city to create and
sustain jobs and businesses. More than 1,500 entrepreneurs utilize
BAC's services annually. A majority of programs and services are
provided free of charge, including one-on-one counseling, programs,
and workshops.
"Comerica Bank has been a longtime supporter of the
public/private partnership between the city of Fort Worth and the BAC Education Foundation,"
said Robert Sturns, interim director
of the Economic Development department for the city of Fort Worth, and executive director of the Fort
Worth BAC. "The funds being provided by Comerica and the Federal
Home Loan Bank of Dallas will help
us to enhance our efforts in growing the entrepreneurial community
in Fort Worth through the
innovative programs offered at the Business Assistance Center."
The BAC Education Foundation, which received the grant, will use
the funds to offset the nonprofit's programming costs and to create
new programming that fulfills the ever-changing knowledge needs of
entrepreneurs.
"The Partnership Grant Program helps nonprofits do more for
their clients and communities," said Greg
Hettrick, vice president and director of Community
Investment at FHLB Dallas. "Both Housing Opportunities of
Fort Worth and the Fort Worth
Business Assistance Center have demonstrated a commitment to
community service and economic development, and we are very glad to
partner with Comerica Bank in supporting them."
About Comerica Bank
Comerica Incorporated (NYSE: CMA) is a financial services
company headquartered in Dallas,
Texas, and strategically aligned by three business segments:
The Business Bank, The Retail Bank, and Wealth Management. Comerica
focuses on relationships, and helping people and businesses be
successful. In addition to Texas,
Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in
several other states, as well as in Canada and Mexico. Comerica reported total assets of
$69.9 billion at June 30, 2015. To find us on Facebook, please
visit www.facebook.com/ComericaCares. Follow Comerica on
Twitter at @ComericaCares and follow Comerica Chief
Economist Robert Dye on Twitter at @Comerica_Econ.
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 $42.6 billion as of
June 30, 2015, is a member-owned
cooperative that supports housing and community development by
providing competitively priced advances and other credit products
to approximately 865 members and associated institutions in
Arkansas, Louisiana, Mississippi, New
Mexico, and Texas. Visit
fhlb.com for more information.
Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445
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SOURCE Federal Home Loan Bank of Dallas