JACKSON, Miss., Sept. 18, 2015 /PRNewswire-USNewswire/ — The Federal Home Loan Bank of Dallas (FHLB Dallas) and BankPlus, an FHLB Dallas member institution, on Wednesday presented Partnership Grant Program (PGP) awards to the Central Mississippi Housing and Development Corporation (CMHDC), the Mississippi Minority Business Alliance (MMBA), and the Zoo Area Progressive Partnership (ZAPP). These PGP awards mark the second grant in recent years to each organization from FHLB Dallas.
Jackson Mayor Tony Yarber joined representatives from the banks and nonprofits for the check presentation.
“I’d like to thank BankPlus and FHLB Dallas for contributions to three worthy initiatives,” Mayor Yarber said. “It’s these kinds of commitments from community partners that help move Jackson toward its bold new vision of becoming one of the most innovative, progressive, and prosperous cities in the South.”
PGP awards provide grants up to $12,000 to community-based organizations (CBOs).The funds may be used for research, organizational capacity-building, grant- and funding-application assistance, and/or contractual services. Through the PGP awards, FHLB Dallas matches a member’s contribution to a CBO of $500 up to $4,000 at a 3:1 ratio. The grants are offered via a lottery system once a year through FHLB Dallas members. In 2015, FHLB Dallas awarded $225,000 in PGP funds to support 25 organizations. More information about the PGP is available at fhlb.com.
“BankPlus is proud to work with FHLB Dallas to support meaningful initiatives like the Partnership Grant Program. Through such innovative programs, we have been able to leverage our corporate contributions, maximizing the impact we can have on the communities in which we live,” said Mark Ouellette, first vice president and director of Affordable Housing at BankPlus. “Participation with the Partnership Grant Program has not only provided additional money, it has also helped us foster strong relationships with local organizations addressing real needs in our communities.”
Awarded a $12,000 PGP grant, CMHDC, based in Canton, Mississippi, will use the funding for capacity-building and to offset operational and administrative expenses.
Canton Mayor Arnel D. Bolden said he appreciates the grant and the benefits it will bring to Canton and Madison County.
“We thank FHLB Dallas and BankPlus for the good work they do in the community through CMHDC,” Mayor Bolden said. “This grant provides valuable support and opportunities for our residents that they otherwise might not receive.”
Founded in 2012, CMHDC focuses on improving the quality of life for low- to moderate-income citizens of the city of Canton andMadison County by providing affordable housing options.
“I speak on behalf of the many grateful families in Canton and within the county when I say ‘thank you’ to BankPlus and FHLB Dallas for their continued support of CMHDC,” said Stanford H. Beasley, Sr., founder and executive director of CMHDC. “This is the second year we have been awarded a PGP grant, and we sincerely appreciate your continued financial support, commitment, and dedication in assisting us in providing affordable housing in the community.”
MMBA CEO Shellie Michael echoed Mr. Beasley’s sentiments with regard to the $16,000 PGP grant her organization received.
“The support of BankPlus and FHLB Dallas provides vital funding for the minority and women-owned businesses we serve,” Mrs. Michael said. “For nearly two decades, MMBA has been of service to minority- and women-owned business owners. With the support of these valued partners, we are able to develop and manage programs that benefit these community-sustaining organizations and businesses.”
MMBA was established in 1997 by minority business and corporate representatives from across Mississippi. The 501 (c) (3) nonprofit will use the PGP grant to expand its outreach to rural small businesses through organizational capacity-building and by upgrading its computers and software.
Founded in 1997 to support the Jackson Zoo and surrounding areas, ZAPP is an all-volunteer organization, which plans to use its$4,000 PGP award for organizational capacity-building and for assistance in applying for grants and other funding sources.
“Our ZAPP members are so thankful for the support of BankPlus and FHLB of Dallas for this PGP grant,” said Marcia Reed, president of ZAPP. “BankPlus is always there when we need them. We are a small nonprofit, all-volunteer group that does beautification projects and organizes community clean-up days in our neighborhood in west Jackson. The partnership grant is a tremendous boost to help us fulfill our mission to support the Jackson Zoo and do improvement projects in the surrounding neighborhood.”
Nonprofits’ funding sources often come with detailed parameters about the use of funds, explained Greg Hettrick, vice president and director of Community Investment at FHLB Dallas.
“We are pleased to help nonprofits by partnering with our members,” he said. “FHLB Dallas created the PGP largely to help nonprofits pay for administrative and operational expenses that typically are not covered by other funding. The matching aspect is a win-win for everyone.”
BankPlus, with total assets of more than $2.5 billion, has over 60 locations in 34 Mississippi communities. BankPlus offices are located in Belzoni, Bentonia, Brandon, Byram, Canton, Clinton, D’Iberville, Durant, Flora, Flowood, Gluckstadt, Hernando, Holly Bluff, Horn Lake, Isola, Jackson, Lexington, Madison, Meridian, Newton, Olive Branch, Pearl, Picayune, Pickens, Poplarville, Quitman, Ridgeland,Shubuta, Southaven, Stonewall, Tchula, Tupelo, Waynesboro and Yazoo City. For additional information on BankPlus, please visitwww.BankPlus.net.
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 $42.6 billion as of June 30, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 865 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Visit fhlb.com for more information.
Federal Home Loan Bank of Dallas
SOURCE Federal Home Loan Bank of Dallas