METAIRIE, La. — Representatives from Home Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) joined Puentes New Orleans yesterday to award $6,000 in Partnership Grant Program (PGP) funds to the nonprofit, dedicated to helping Latinos in New Orleans overcome the obstacles that often keep them from purchasing homes.
Puentes New Orleans received a $6,000 Partnership Grant Program award from Home Bank and FHLB Dallas to assist Latin American immigrants. (Photo: Business Wire)
The grant funds will help Puentes New Orleans in its effort to support its two-year college prep and career planning program designed to increase economic mobility for youth. The grant will support Puentes’ two-year college prep and career planning program designed to promote economic mobility for underserved immigrant youth. This program enrolls more than 80 immigrant youth at three area high schools.
“Without the PGP, our youth would have fewer resources and opportunities at such a crucial stage in their personal development and education,” said Salvador Longoria, executive director of Puentes. “This support goes a long way in helping us build a better and brighter future for them.”
FHLB Dallas’ PGP awards provide 3:1 matches of member contributions to provide grants up to $12,000 that help promote and strengthen relationships between community-based organizations and FHLB Dallas members. The PGP also complements the development activities fostered by FHLB Dallas’ Affordable Housing and Community Investment programs.
“Home Bank has found great value in utilizing the PGP over the years,” said Brandon Kelly, vice president and CRA officer at Home Bank. “Positively impacting the community through programs such as the PGP is vital to the bank’s mission.”
In 2018, FHLB Dallas has awarded $300,000 in Partnership Grant Program (PGP) funds through 31 member institutions to assist 32 community-based organizations. Combined with the $114,010 contributed by FHLB Dallas members, a total of $414,010 has been awarded to the organizations.
FHLB Dallas Vice President and Affordable Housing Program Manager Bruce Hatton said the Partnership Grant Program is beneficial for all parties involved.
“FHLB Dallas’ 3:1 match highlights the partnership aspect of the program, making it uniquely beneficial on different levels,” said Mr. Hatton. “Home Bank has the opportunity to strengthen its ties with the community and the community benefits from the partnership and funds.”