Mason County Habitat for Humanity Receives $12K Partnership Grant from Mason Bank and FHLB Dallas
MASON, Texas, Nov. 19, 2014 /PRNewswire-USNewswire/ -- Mason County Habitat for Humanity (MCHFH) today received a $12,000 Partnership Grant Program (PGP) award from Mason Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas). MCHFH will use the funds to offset operating expenses and purchase construction equipment.
Paul Branch, president of MCHFH, said the nonprofit was formed in 2002 with the goal of building one home every year in Mason County.
"The founders of MCHFH saw the need for affordable housing in Mason County," said Mr. Branch. "Even the rent for an old mobile home in bad shape is $500 per month and most residents in the county can't come up with a downpayment to purchase a home."
Mason Bank, an FHLB Dallas member, participates in the PGP, which provides funding for the operational needs of community-based organizations involved in affordable housing and economic development. FHLB Dallas matches a member's cash contribution to a community-based organization of $500 up to $5,000 at a 3:1 ratio. In 2014, FHLB Dallas awarded $225,000 in PGP awards through its members.
"Since 2002, we have provided almost $34,000 in donations and matching funds for the grants to MCHFH," said Nancy Andrews, vice president, Mason Bank.
Mr. Branch said Mason Bank is wonderful to work with and has been the largest corporate contributor to MCHFH.
"We have received grants from FHLB Dallas through Mason Bank for down payment assistance, and this is our second PGP grant," said Mr. Branch. "This PGP grant is funding a portion of the salary of an administrative assistant and the purchase of a construction trailer to store smaller materials on site. We used to borrow a trailer for this purpose, and as my dad always said, if you borrow something three times, you need to buy one. So we are buying one."
FHLB Dallas supports community investment and economic development throughout its five-state District of Texas, New Mexico, Arkansas, Louisiana, and Mississippi.
"FHLB Dallas is pleased to support the Mason County Habitat for Humanity through our member institution, Mason Bank," said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas. "Mason County Habitat is vital to creating affordable housing in the community, and they are able to assist many first-time homebuyers in making one of the biggest investments of their lives."
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $37.5 billion as of September 30, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445
Photo - http://photos.prnewswire.com/prnh/20141119/159622
Logo - http://photos.prnewswire.com/prnh/20140729/130876
SOURCE Federal Home Loan Bank of Dallas
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