Partnership Grant Assists Jackson Nonprofit with Homebuyer Counseling Programs

JACKSON, Miss., Oct. 2, 2014 /PRNewswire-USNewswire/ -- A $6,000 Partnership Grant Program (PGP) award was presented yesterday to Housing Education and Economic Development (HEED) from Trustmark National Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas). The award will be used to enhance HEED's counseling programs that educate the public on foreclosure, fair housing, and fair lending issues.

"I want to thank Trustmark and FHLB Dallas for selecting HEED for this award," said Charles Harris, HEED executive director. "It will help us because of all the cutbacks from the U.S. Department of Housing and Urban Development. Through this, we will be able to expand our counseling programs."

Numbers released by the U.S. Census Bureau in 2013 showed that 25 percent of Mississippians were living in poverty. The most recent poverty guidelines, published by the U.S. Department of Health and Human Services, set the poverty level for a family of four at or below $23,850 a year. An individual earning $11,670 or less annually is considered to be living at poverty level.  The guidelines are updated each year to account for cost-of-living increases.

"Trustmark National Bank has worked with HEED for many years, presenting workshops that help potential homebuyers know their rights and responsibilities," said  Steffani Jenkins, community development director, Trustmark National Bank. "We support HEED's mission of helping Jackson citizens own their own homes. Home ownership allows families to establish and deepen their roots here."

That's something close to Mr. Harris's heart. His office is just two streets away from where he was born, he said.

The Jackson, Mississippi, native founded HEED 25 years ago. Since then, HEED's small staff and volunteers have helped more than 10,000 people through its housing, banking, and job-search programs.

"I was working for another agency in 1989. They were about to close, and I had a vision from the Lord that told me to leave that organization. It's going to close," Mr. Harris said. "I fought it for six months. Then one Sunday, the preacher gave a sermon entitled 'Stepping Out in Faith.' I thought, 'He's talking about me.' I went home and told my wife to get my resume ready. I did it. I haven't looked back."

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

Organizations like HEED help to build stability through homeownership in the Jackson community, where the median household income was $42,305 in 2012, according to statistics from the Greater Jackson Alliance.  

"The mission of the Federal Home Loan Bank system, since its creation in 1932, is to support residential mortgage lending and related community investment through its member institutions," said Greg Hettrick, FHLB Dallas vice president and director of community investment. "Working with our valued members, including Trustmark National Bank, FHLB Dallas is able to fulfill that mission through local nonprofits that work directly with people in need. It is very rewarding for all of us."  

About Trustmark
Trustmark Corporation is a diversified financial services company headquartered in Jackson, Mississippi, with approximately $12 billion in assets and more than 200 locations in Alabama, Florida, Mississippi, Tennessee and Texas.  Trustmark provides banking, wealth management and insurance solutions through its subsidiaries, including Trustmark National Bank, Trustmark Investment Advisors, Inc. and Fisher Brown Bottrell Insurance, Inc.  Visit www.trustmark.com for more information.

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 $33.6 billion as of June 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.

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

SOURCE Federal Home Loan Bank of Dallas