SHREVEPORT, La., Oct. 16, 2015 /PRNewswire-USNewswire/ -- The Highland Center Corporation (HCC) today received an $8,000 Partnership Grant Program (PGP) award from Red River Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas). The funds will be used for training and education, hiring staff, and purchasing a new laptop and printer for its housing support services.
Through HCC's wholly owned subsidiary Highland Center Ministries (HCM), resources for food and housing are provided to help transition citizens out of poverty. Established in 2011 to provide a weekly meal, the nonprofit has grown to include a diverse and ecumenical network of churches and organizations working together at the Highland Center location to support Shreveport's historic Highland neighborhood.
"HCM Housing Support Services has developed a strong relationship with Red River Bank," said Reverend John Henson of Church for the Highlands. "Our clients are able to save for homeownership through savings accounts at Red River Bank. The staff offers support to educate them on improving and understanding credit and lending basics. And they have always been supportive in helping us host neighborhood and community events."
Red River Bank Vice President and CRA Officer Jannease Seastrunk Jannease Seastrunk expressed her gratitude for the opportunities provided through the Highland Center.
"Red River Bank is committed to strengthening our communities," she said. "The life-changing work of the Highland Center has greatly helped the Highland neighborhood, and our bank is so pleased to support their work."
U.S. Census figures showed that more than 198,000 people lived in Shreveport in 2014, with more than 21 percent of them living below the poverty level. The 2013 poverty level in Louisiana was 19 percent, according to the latest statewide Census data available.
Presented annually, PGP awards provide grants up to $12,000 to community-based organizations (CBOs), like HCC. The funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services. The structure of the PGP allows FHLB Dallas member institutions, such as Red River Bank, to make a contribution to a CBO, which FHLB Dallas will match. The member's contribution may range from $500 up to $4,000 and is matched at a 3:1 ratio. In 2015, FHLB Dallas awarded $225,000 in PGP funds to support 25 organizations. For more information, visit fhlb.com.
Greg Hettrick, vice president and director of Community Investment at FHLB Dallas, said the PGP awards are specifically designed to cover costs that are usually not allowed by other grants.
"Our members informed us about community organizations that faced difficulties from funding limitations. The PGP helps to alleviate these types of gaps and better serve nonprofits, like the Highland Center, which we are honored to support with Red River Bank."
About Red River Bank
Red River Bank is a full service community bank headquartered in Alexandria, Louisiana. Red River Bank was chartered in 1998 in Rapides Parish and began operating its first banking center in Alexandria in 1999. Red River Bank offers consumer and commercial banking services and products, mortgage lending services, and investment services.
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