$17K Partnership Grant from FHLB Dallas, DATCU to Help Nonprofit Serve Denton

DENTON, Texas, Sept. 18, 2015 /PRNewswire-USNewswire/ -- Local nonprofit Serve Denton received a $17,000 Partnership Grant Program (PGP) award this week from the Federal Home Loan Bank of Dallas (FHLB Dallas) and DATCU Credit Union, an FHLB Dallas member institution. The funds will be used to offset expenses associated with the expansion of the new Assistance and Events Center, scheduled to open this fall.

"We at DATCU are delighted to have an amazing partner like the Federal Home Loan Bank of Dallas, who understands and cares about making communities stronger. Their very generous donation to Serve Denton in recognition of their relationship with DATCU means a great deal to us," said Dale Kimble, CEO of DATCU. "We support Serve Denton because we believe in their mission and support their efforts to change the way those in need seek and receive help. We are very grateful to the Federal Home Loan Bank of Dallas for their gift to Serve Denton."

Serve Denton's largest project to date, the Assistance and Events Center will bring together local agencies under one roof to help Denton County's homeless population.

"We are grateful for the partnership grant from FHLB Dallas and DATCU," said Rachael Sampson, development and collaboration program manager. "This grant will be used to build organizational capacity. It will go toward our operational expenses, so we can offset the cost for staff and daily operations while we focus on the renovation of our 32,000-square-foot nonprofit center.  

Current nonprofit tenants include Big Brothers Big Sisters, Rising Start Resource Development, New Day Services, and Denton County Veterans Coalition. The shared space allows the nonprofits to reduce their overhead costs and increase capacity. Additional organizations are expected to move into the facility following the renovation.

"FHLB Dallas is honored to support DATCU and Serve Denton with this grant," said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas. "This is a worthwhile cause that creates efficiencies to help people move beyond homelessness and into better lives."

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, 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. For more information, visit fhlb.com.

About DATCU

DATCU Credit Union, founded in 1936, is a full-service, member owned, not-for profit financial institution. With a long-standing tradition of exemplary service, they currently serve almost 80,000 members; Membership is open to anyone living or working in Denton, Cooke, Wise, Montague, or Clay Counties. All are invited to take advantage of the products and services the credit union offers. These include checking, savings, credit cards, multiple loan products, investment products, and insurance. To learn more about DATCU Credit Union, visit www.datcu.org.

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.

Contact:

Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com 
(214) 441-8445

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SOURCE Federal Home Loan Bank of Dallas

Related Links

http://www.fhlb.com