The Federal Home Loan Bank (FHLB) of Dallas has partnered with Red River Bank to provide grant funding to a nonprofit in Louisiana. According to the release on Business Wire, $4,000 was given to Image Changers in a Partnership Grant Program (PGP).
The nonprofit works to provide low to moderate-income families with educational resources and opportunities for homeownership. The funding will be used to help the organization reach its long-term goals.
The president and executive director of Image Changers, Damon Humphrey, said, “This is the second year that Red River Bank and FHLB Dallas have supported us with the PGP, and it is greatly appreciated as we work to expand our services and our reach.”
There was a ceremonial check presentation held on October 7.
Jannease Seastrunk, Red River Bank senior vice president, and community relations officer, said, “We are pleased to support nonprofits such as Image Changers that are improving the quality of life for members of our Shreveport community. This PGP grant will provide them additional resources to grow, and we are honored to be a part of it.”
FHLB Dallas awarded a total of $400,000 in Partnership Grant Programs in 2021. Members also provided $200,250 in funds, totaling over $600,00 towards bettering their five-state district. The district spans Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
In the press release, Greg Hettrick, the first vice president and director of Community Investment at FHLB Dallas, said their relationship with members better community outreach.
“The relationship between FHLB Dallas and its members promotes grassroots community outreach in the cities where our members operate,” Hettrick said. “We value this partnership with Red River Bank, which has been very involved in our community investment initiatives.”
The partnership between both banks also awarded $33,000 in grants to two other Louisiana nonprofits, Serving Grace and GAEDA Revitalization Corporation. The funding was celebrated on October 6 with a check presentation.
$17,000 was given to Serving Grace to aid in their mission to teach Central Louisiana residents financial literacy and essential life skills. It will also help the organization’s pilot program dedicated to support first-time homebuyers.
“The grant has helped Serving Grace tremendously with getting the homebuyers program off the ground,” Ashley Mack, the group’s director, said in a press release. “Our main goal is to improve the lives of the people who live in this community, and this grant is allowing us to do just that.”
GAEDA Revitalization Corporation, which renovates and restores properties to promote neighborhood renewal, received $16,000. According to a recent FHLB Dallas press release, it will be used on overrun costs from a current project that repaired homes for the elderly.
Executive director Willie Spears said, “Red River Bank has worked with us on different projects. We really appreciate this grant and their many contributions over the years.”
According to Seastrunk, both organizations have a positive influence on the Central Louisiana region.
She said, “FHLB Dallas’ PGP, with its matching funds component, allows Red River Bank to have a greater impact on local nonprofits. We are thankful to FHLB Dallas and thrilled to be a multi-year participant.”