Tri Counties Bank announced today, in conjunction with the
Federal Home Loan Bank of San Francisco (FHLBank San Francisco), a
$200,000 donation to promote Black homeownership as part of the
FHLBank San Francisco’s Empowering Black Homeownership matching
grant program.
The recently launched program is a key component of Tri Counties
Bank and FHLBank San Francisco’s commitment to advancing racial
equity in homeownership and narrowing the Black homeownership and
wealth gaps. Through this new program, FHLBank San Francisco’s
member financial institutions can request dollar-for-dollar
matching grants, up to a total matching amount of $125,000, for
their donations to approved housing counseling agencies.
“We are fortunate to have FHLBank San Francisco as a partner in
our efforts to increase Black homeownership across our footprint,”
said Rick Smith, President & CEO of Tri Counties Bank. “There
is no better time to kick off this program than in June, both for
National Homeownership Month and in appreciation of
Juneteenth.”
FHLBank San Francisco matched Tri Counties Bank’s $100,000
donation for a total of $200,000, which will be distributed in
$50,000 grants to four Housing Counseling Agencies (HCAs)
throughout Tri Counties Bank’s footprint: Greater Sacramento Urban
League, Self Help Enterprises, Community Housing Development
Corporation, and San Francisco Housing Development Corporation.
“Pre- and post-homeownership counseling can be the key to
sustainable homeownership, and we are thrilled that Tri Counties
Bank is using our new Empowering Black Homeownership program to
support four different HCAs,” said Marietta Núñez, Senior Vice
President and Community Investment Officer at FHLBank San
Francisco. “The Bank’s match of Tri Counties Bank’s donations to
these HCAs will magnify their impact and enable the agencies to
serve more aspiring and at-risk homeowners in communities where Tri
Counties Bank does business.”
Greater Sacramento Urban League
Greater Sacramento Urban League (GSUL) has been aiding youths
and adults from underrepresented communities throughout Sacramento
County for over 50 years, providing comprehensive housing
counseling, education, job training and placement opportunities to
achieve economic self-reliance.
The organization plans to use their grant from Tri Counties Bank
and FHLBank San Francisco to assist with their Housing Counseling
Program, which is HUD approved and offered to the public at no
cost. The program offers counseling in areas such as homelessness,
rental assistance, first-time home buyer, credit and budgeting, and
refinancing.
“Sacramento County has the lowest Black home ownership rate in
California. Far too many have lost hope in the American dream of
home ownership,” said Dwayne Crenshaw, J.D., President and CEO of
the Greater Sacramento Urban League. “With this critical grant
funding, the Greater Sacramento Urban League will strive to restore
hope to families we reach by offering them personalized financial
planning services to help get their families on a realistic path to
actually achieving the dream.”
Self Help Enterprises
Self-Help Enterprises (SHE), located in Visalia, California, was
founded in 1965 with the mission to work together with low-income
families to build and sustain healthy homes and communities. SHE
serves eight counties in the San Joaquin Valley: Fresno, Kern,
Kings, Madera, Mariposa, Merced, Stanislaus and Tulare County.
Although this area is known as a top agricultural production
region, the San Joaquin Valley has among the highest poverty rates
in the State of California.
The organization will use the grant to link opportunities to
enhance and create outreach campaigns in Black communities to
promote the Mutual Self-Help Housing Program. Participants will be
served with customized homeownership resources, educational, and
home counseling needs. SHE will implement alliances and
collaboration strategies with partners to pursue shared goals to
raise and strengthen Black homeownership.
"We are grateful for Tri Counties Bank's Black Homeownership
Grant as it will enable us to continue to provide accessible
housing opportunities for the underserved members of our
community,” said Tom Collishaw, President and CEO of SHE. “This
grant will help create a direct path toward sustainable
homeownership for the Valley's Black families and will empower them
to build wealth for generations to come."
Community Housing Development Corporation
Community Housing Development Corporation, located in Richmond,
California, provides a broad range of affordable housing
opportunities and services throughout the Bay Area to enable
low/moderate income residents to gain better housing and financial
stability.
The organization plans to use their grant to fund the Black
Wealth Initiative (BWI), which helps to close the Black wealth gap
through encouraging and helping black people in the Bay Area to
become homeowners. The BWI assists with both homebuying education
and down payment and/or closing costs. While the program is still
in its infancy, the organization has already assisted one homeowner
with closing the purchase of a home and three more are already on
the way towards homeownership.
“The Black Wealth Initiative (BWI) focuses on one of the leading
causes of the black wealth gap, and that is the disparate number of
black homeowners compared to white homeowners,” said Don Gilmore,
Executive Director of the Community Housing Development
Corporation. “CHDC and Tri Counties Bank hope to close that gap by
helping more black families and individuals to purchase homes in
the Bay Area, which will also help to build generational wealth for
years to come.”
San Francisco Housing Development Corporation
San Francisco Housing Development Corporation (SFHDC) was
founded in 1988 with the mission to foster financial stability
through the development of affordable housing, the facilitation of
homeownership and the economic empowerment and revitalization of
San Francisco’s communities of color.
The Empowering Black Homeownership matching grant will support
SFHDC’s Housing Counseling & Financial Empowerment Program,
which provides renters, aspiring homebuyers and existing homeowners
with the skills, knowledge and information they need to obtain,
stabilize and maintain affordable housing, whether it’s a rental or
home purchase. The program supports 1,500 clients a year, with over
80% of them individuals of color.
"Since our founding in 1988, SFHDC has focused on empowering
Black San Franciscans to achieve homeownership, and providing them
with other economic stability and mobility strategies to create
wealth,” said David Sobel, SFHDC's Chief Executive Officer. “The
generous support of FHLBank and Tri Counties Bank will enable us to
continue this urgently needed work amidst soaring housing prices,
and address racial disparities within the arena of both home
purchase and homeownership retention.”
About Tri Counties Bank
Established in 1975, Tri Counties Bank is a wholly-owned
subsidiary of TriCo Bancshares (NASDAQ: TCBK) headquartered in
Chico, California, with assets of over $10 billion and more than 45
years of financial stability. Tri Counties Bank provides a unique
brand of Service With Solutions® for communities throughout
California with a breadth of personal, small business and
commercial banking services, plus an extensive branch network, more
than 37,000 surcharge-free ATMs nationwide, and advanced online and
mobile banking. Visit TriCountiesBank.com to learn more.
Member FDIC.
About Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven
cooperative helping local lenders in Arizona, California and Nevada
strengthen communities, create opportunity, and change lives for
the better. The tools and resources we provide to our member
financial institutions — commercial banks, credit unions,
industrial loan companies, savings institutions, insurance
companies and community development financial institutions —
promote homeownership, expand access to quality housing and boost
economic development. Together with our members and other partners,
we are making the communities we serve more vibrant, equitable and
resilient.
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version on businesswire.com: https://www.businesswire.com/news/home/20220616005302/en/
Megan Sheehan, Community Engagement Manager
megansheehan@tcbk.com (530) 332-2330
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