Banks Provide $253K in Disaster Funds to N.O. Nonprofit

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Rebuilding Together New Orleans received more than $253,000 in disaster relief funding from FHLB Dallas through its member, Hancock Whitney Bank, to help restore homes in New Orleans impacted by Hurricane Ida.

NEW ORLEANS — On June 27, Hancock Whitney Bank and the Federal Home Loan Bank of Dallas officially awarded more than $253,000 in Disaster Rebuilding Assistance funds during a ceremonial check presentation to Rebuilding Together New Orleans.

The nonprofit is using the funds to rehabilitate and strengthen storm-damaged New Orleans, Louisiana, communities impacted by Hurricane Ida.

Administered through member institutions, DRA subsidies provide funds up to $12,000 for the repair and reconstruction of owner-occupied housing affected by a disaster event in federally declared disaster areas within the FHLB Dallas five-state district.

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“Thanks to this generous funding, we will be able to provide crucial repairs to homeowners in greatest need in the New Orleans area,” said Rebuilding Together New Orleans Executive Director William Stoudt. 

Representatives from the banks joined leaders of Rebuilding Together New Orleans at their Marias Street warehouse to celebrate. FHLB Dallas set aside $1.5 million of its 2023 Affordable Housing Program funds for DRA, and all funds have been fully allocated.

“New Orleans has endured catastrophic weather events throughout its history,” said LaCarsha Babers, vice president and community outreach officer at Hancock Whitney Bank. “It is an honor to invest in the rehabilitation of New Orleans for today and tomorrow with the help of DRA funds.”

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“DRA has been in high demand due to the number of storms that have hit the Gulf Coast region,” said Greg Hettrick, senior vice president and director of community investment at FHLB Dallas. “Hancock Whitney Bank’s involvement in DRA continues to make a direct and positive impact on storm victims.”

For more information about DRA, visit fhlb.com/dra.

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