Financial Literacy Nonprofit Awarded $14K Grant from Green Bank & FHLB Dallas

HOUSTON, Oct. 30, 2014 /PRNewswire-USNewswire/ -- The Women's Resource of Greater Houston helps women and girls achieve greater financial literacy, so they can become more productive and self-sufficient. Green Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) are honored to support its efforts with a $14,000 Partnership Grant Program (PGP) award, presented yesterday at the nonprofit's office, 730 N. Post Oak Road, Ste. 204.

The Women's Resource of Greater Houston will use the funds to reach more clients and to cover operational and administrative expenses.

"The Women's Resource is a solid organization. They do a lot of great work for our community," said David Matthews, executive vice president and CRA officer at Green Bank. "We have enjoyed partnering with FHLB Dallas on this award and with other grant programs. The PGP award will make a real difference for Houston-area women and girls in need."

Through the PGP, FHLB Dallas awards grants through its member institutions, to provide funding for the operational needs of community-based organizations involved in affordable housing and economic development. FHLB Dallas matches the cash contribution of a member financial institution to a community-based organization of $500 up to $5,000 at a 3:1 ratio. Through its members, FHLB Dallas awarded $225,000 in partnership grants in 2014.

Christine Powell, executive director of the Women's Resource of Greater Houston, explained that the organization was founded 25 years ago in Houston by a group of concerned women. They wanted more money going to women-focused organizations at a time when the amount was near zero. "Today we cover all of Harris County and offer free financial literacy classes in 44 zip codes. We also provide a leadership and financial literacy class for at-risk girls in ninth and tenth grades," she said.

Volunteers working with The Women's Resource teach classes throughout Harris County. "We focus on women and girls, but we do realize that by supporting men, we are supporting families," said Ms. Powell. "We go to our clients by partnering with social-service agencies. In this way, men have access to the classes via the agencies."

U.S. Census data for 2008-2012 shows that 22.2 percent of Houston residents live below poverty level, compared to 17.4 of Texas residents.

"Houston is lucky to have The Women's Resource," said Mayor Annise Parker. "Its focus on financial literacy is helping low-income women across the city to save money, pay bills, use credit, and much more. With this knowledge, they are able to make sound financial decisions and improve their lives."

The PGP enables FHLB Dallas to distribute funds through its member institutions to assist nonprofits with operational and administrative expenses. This is unique because the regulations of most grant programs restrict the use of funds for this purpose, according to Greg Hettrick, vice president and director of community investment, FHLB Dallas.

"Through our member, Green Bank, FHLB Dallas is pleased to support the Women's Resource of Greater Houston and all of the work it does in Houston and Harris County," said Mr. Hettrick. "There is a great need in our District to support the operational needs of nonprofits. We responded by creating the PGP. Our members and the community-based organizations they serve have expressed appreciation for this type of support."

About Green Bank
Green Bank is a preferred provider for business and personal banking products and services, the employer of choice in Texas banking and a champion for our communities. We are committed to the fair treatment of our stakeholders and to "doing the right thing" at all times. We promise:  to act ethically in all business transactions and personal interactions;  to maintain proper compliance processes measures and goals to achieve and surpass all regulatory and legal requirements; to be responsive and accessible; and, to act in environmentally and socially-responsible ways to support and strengthen our communities.

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

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SOURCE Federal Home Loan Bank of Dallas

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