ST. MARTINVILLE, La.--(BUSINESS WIRE)--Home Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) presented $6,000 in Partnership Grant Program (PGP) funds to St. Teresa Center for the Works of Mercy (St. Teresa), which provides free services to low-income individuals to help restore and foster their dignity. The organization plans to use the funds for operational expenses to help start a new vocational program for at-risk youth. Local dignitaries and bank representatives joined the organization at a recent check presentation.
The Rev. Michael Champagne of St. Teresa said the funds will greatly impact the community and population they serve.
“We don’t have a lot of father figures in our area and St. Martinville mainly consists of working, single parents,” said the Rev. Champagne. “We want to take some pressure off the parents and encourage the children of the community to stay in school and drug free.”
The Rev. Champagne learned about the PGP grant from a Home Bank representative who encouraged him to apply. This is the first year the organization has received a PGP grant.
“St. Teresa is taking a lead in the St. Martinville community to help keep children safe and provide them with the resources for a better future,” said Brandon Kelly, vice president and community reinvestment act officer at Home Bank. “We are happy to be part of St. Teresa’s mission through the PGP.”
With the PGP, FHLB Dallas member institutions like Home Bank contribute $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas matches at a 3:1 ratio. This year, FHLB Dallas awarded $300,000 in PGP funds through 25 member institutions to assist 27 CBOs. Combined with FHLB Dallas member contributions, a total of $442,500 has been awarded to the organizations.
“The PGP’s 3:1 feature makes it a unique community investment tool, stretching the benefits of the program,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “We commend Home Bank for its use of the PGP.”
The Rev. Champagne stressed the importance of the PGP and how it can benefit other organizations.
“Programs like the PGP are huge,” he said. “Local banks really help build up the community and a lot of nonprofits depend on that help. I really appreciate the involvement and partnership of Home Bank and FHLB Dallas, as this grant is going to help us make a difference.”
About Home Bank
With 40 locations across South Louisiana and Western Mississippi, Home Bank is committed to serving the needs of its communities. Personal banking has always been Home Bank’s trademark, and that tradition continues as the company grows, invests and serves its clients and community. For more information about Home Bank, visit home24bank.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 created by Congress in 1932. FHLB Dallas, with total assets of $74.5 billion as of June 30, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 820 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.