FHLBank San Francisco Executives and Staff Join With Habitat for Humanity to Build Affordable Housing in Oakland Neighborhood

OAKLAND, Calif., Oct. 10, 2013 /PRNewswire-USNewswire/ -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) joined with other companies and organizations on World Habitat Day to help Habitat for Humanity East Bay/Silicon Valley construct 12 homes in Oakland's Brookfield Court Development.

FHLBank San Francisco's Affordable Housing Program (AHP) awarded a $300,000 grant to the development, and this week many of their executives and staff joined with community members and other volunteers to build the homes. The new single-family homes will be for very low- and low-income families in the Brookfield Village neighborhood and incorporate many green building features that will address passive solar design, energy efficiency, water efficiency, resource conservation, and indoor air quality.

"We are proud to participate in this worthy project," said Dean Schultz, President and CEO of FHLBank San Francisco.  "Habitat for Humanity should be applauded for finding innovative ways to increase the supply of affordable housing and making it possible for families to enjoy the many benefits of owning a home."

Schultz said that Brookfield Court was awarded an AHP grant in 2011 through member institution Mechanics Bank. "It's gratifying to see that AHP funds are being used to help working families become homeowners," Schultz said. "Homeownership is what helps to build strong communities in Oakland, in California, and across the United States."

Since 1992, FHLBank San Francisco has awarded more than $4 million to Habitat for Humanity East Bay/Silicon Valley to support the construction of 252 Habitat for Humanity single-family homes.

FEDERAL HOME LOAN BANK OF SAN FRANCISCO
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgage loans to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank's members are headquartered in Arizona, California, and Nevada and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.

Contact: Kevin Blackburn 510-377-8999

SOURCE FHLBank San Francisco