Banks Award $33K to Two Nonprofits in Alexandria, Louisiana
October 07 2021 - 12:31PM
Business Wire
Red River Bank and FHLB Dallas Provide
Partnership Grant Program Funds
Red River Bank and the Federal Home Loan Bank of Dallas (FHLB
Dallas) have partnered to award a total of $33,000 in Partnership
Grant Program (PGP) funds to Serving Grace and GAEDA Revitalization
Corp. (GRC) in Alexandria, Louisiana.
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Officials from Red River Bank and Serving
Grace pose with a ceremonial check to celebrate a $17,000
Partnership Grant Program award from the Federal Home Loan Bank of
Dallas and Red River Bank. (Photo: Business Wire)
Both organizations were celebrated during a ceremonial check
presentation on October 6.
Serving Grace, an organization whose mission is to help Central
Louisiana residents by educating them in basic life skills and
financial literacy, received $17,000. The funds will be used for
administrative purposes and to support the Serving Grace Homebuyer
Club. This pilot project helps first-time homebuyers understand and
overcome the obstacles involved in purchasing their first home and
what to expect after buying a home.
“The grant has helped Serving Grace tremendously with getting
the homebuyers program off the ground,” said Ashley Mack, director
of Serving Grace. “Our main goal is to improve the lives of the
people who live in this community, and this grant is allowing us to
do just that.”
FHLB Dallas and Red River Bank also awarded $16,000 to GRC. The
organization, which promotes social welfare and neighborhood urban
renewal by renovating, restoring and developing commercial and
residential properties, will use the funds to cover cost overruns
that occurred on previous home repairs for the elderly. GRC is
currently working on its 75th home.
“Red River Bank has worked with us on different projects. We
really appreciate this grant and their many contributions over the
years,” said Willie Spears, GRC executive director.
Red River Bank Senior Vice President and Community Relations
Officer Jannease Seastrunk said the two nonprofits are making a
positive difference in Central Louisiana.
“FHLB Dallas’ PGP, with its matching funds component, allows Red
River Bank to have a greater impact on local nonprofits,” she said.
“We are thankful to FHLB Dallas and thrilled to be a multiyear
participant.”
For 2021, FHLB Dallas awarded $400,000 in PGP funds, and its
members provided an additional $200,250 for an impact of more than
$600,000 in its five-state District of Arkansas, Louisiana,
Mississippi, New Mexico and Texas.
“Community investment takes place at the local level,” said Greg
Hettrick, first vice president and director of Community Investment
at FHLB Dallas. “This foundational aspect really drives the success
of the PGP. Through our member institutions, FHLB Dallas can add
financial resources in areas of need, as determined by those
closest to the situation.”
See the complete list of the
2021 PGP recipients. For more information about the 2021 PGP and
other FHLB Dallas community investment products and programs,
please visit fhlb.com/pgp.
About Red River Bank
Red River Bank is a Louisiana state-chartered bank established
in Alexandria, Louisiana, in 1999 that provides a fully integrated
suite of banking products and services tailored to the needs of its
commercial and retail customers. Red River Bank operates from a
network of 26 banking centers throughout Louisiana and one combined
loan and deposit production office in Lafayette, Louisiana. Red
River Bank is a subsidiary of Red River Bancshares, Inc., which
trades under the trading symbol RRBI on the Nasdaq Global Select
Market. Learn more at redriverbank.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 $58.6 billion as of June 30, 2021, is a
member-owned cooperative that supports housing and community
development by providing competitively priced loans and other
credit products to approximately 800 members and associated
institutions in Arkansas, Louisiana, Mississippi, New Mexico and
Texas. For more information, visit our website at fhlb.com.
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Corporate Communications Federal Home Loan Bank of Dallas
fhlb.com (214) 441-8445
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