Greater Houston Black Chamber Foundation Awarded $29K Grant from Comerica Bank and FHLB Dallas

HOUSTON, Oct. 30, 2014 /PRNewswire-USNewswire/ -- Ask Lucy Bremond, president of the Greater Houston Black Chamber Foundation, how their $29,000 Partnership Grant Program (PGP) award will be used, and she'll tell you, it's for young people. The check was presented yesterday to the organization from Comerica Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) in the Comerica resource room at the offices of Change Happens!, a Houston nonprofit.

The organization will use the grant money, in part, to provide stipends for internships. "We use a lot of college interns to help us because those young people just have it going on with technology," said Mrs. Bremond. "It's a win-win for us and the students. We've been given wings, and we want to fly. With the grant money, we also want to find other sources of funding and expand our opportunities to get more grants, so we can do more in the community."

The foundation supports African-American businesses through the Greater Houston Black Chamber, the city's first African-American civic organization. The chamber was founded in 1935, and the foundation was established in 2010.

Vernita Harris, board chair of the Greater Houston Black Chamber, said her organization has been partnering with Comerica Bank for almost a decade. "We've been working with them for several years now. They have been a valuable partner to us."

Vanessa Reed, South Texas CRA Manager with Comerica Bank, affirmed that collaboration. "The Greater Houston Black Chamber and the foundation are in line with supporting small business and also college students," she said. "They are helping to cultivate the next generation of business leaders throughout our community."

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.

Comerica Bank supports the chamber and foundation financially through the PGP, as well as by sponsoring the chamber's annual scholarship event for high school seniors, said Mrs. Reed. "We provide $1,000 scholarships to qualified students attending state schools."

Mrs. Bremond said the foundation is grateful for the partnership grant from FHLB Dallas and Comerica Bank. "The PGP funds will help strengthen the chamber's education and capacity-building programs, so we can continue to improve the quality of life for residents of Houston."

FHLB Dallas distributes PGP 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.

"FHLB Dallas is pleased to support the Greater Houston Black Chamber Foundation through our member institution, Comerica Bank," Mr. Hettrick said. "The foundation's work with the Greater Houston Black Chamber is vital to the community and impacts thousands of lives through students, entrepreneurs, and small businesses." 

About Comerica Bank

Comerica Bank is a commercial banking subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $68.9 billion at September 30, 2014. To find us on Facebook, please visit http://www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares and follow Comerica Chief Economist Robert Dye on Twitter at @Comerica_Econ.

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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