SNAP Grant Covers Repairs for Tupelo Homeowner
TUPELO, Miss., April 1, 2015 /PRNewswire-USNewswire/ -- Romona Vaughn, 68, knows firsthand how the Special Needs Assistance Program (SNAP) can improve daily living. She was awarded a SNAP grant in 2009 for repairs on the Tupelo home where she lives and cared for her ailing mother. In January 2015, Ms. Vaughn received a second SNAP grant. The $4,455 grant from Renasant Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) covered new windows and exterior painting to prevent further home deterioration caused by peeling paint.
"The windows were original to the home, which was built in the 1970s," Ms. Vaughn said. "You could put your hand in the direction of the windows and feel cold air in the winter. The old windows also did not lock. But now I can sleep so much better with the new windows."
SNAP is offered by FHLB Dallas through member institutions, like Renasant Bank. The program provides grants to assist income-qualified, special-needs homeowners with necessary home repairs and modifications.
Retired and living on Social Security benefits, Ms. Vaughn said she did not have the funds to pay for the rehabilitation. "The new windows are going to save on utilities in summer and winter, and the new paint has made it so much nicer to come home. Before they painted, there were always a lot of spider webs, but now they're gone. The house is much more inviting."
Renasant Bank Senior Vice President and Funds Management Officer Phyllis Drope said she understands the difference SNAP makes for residents like Ms. Vaughn.
"Our bank is committed to innovation and community partnership," she said. "SNAP allows us to make those ideas a reality with the support of SNAP from FHLB Dallas. We have seen the program provide much-needed home rehabilitation for our elderly and disabled residents."
In 2015, FHLB Dallas will make $1.5 million in SNAP grants available. The first $750,000 was snapped up in only 11 days in January. More than 30 FHLB Dallas member institutions distributed the funds to more than 150 special-needs homeowners across FHLB Dallas' five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
Lynda Ford, community development specialist with the city of Tupelo, has helped Ms. Vaughn and others with the SNAP application process. "What a blessing SNAP has been!" she said. "Many of our elderly and disabled residents are living only on Social Security. They often have to choose between taking care of their medical problems or home repairs. We have worked with Renasant Bank to assist more than 180 homeowners in our community."
Since SNAP's inception in 2009, nearly $9.2 million has been awarded in grants through member institutions to assist 1,846 families across FHLB Dallas' five-state District.
"FHLB Dallas is honored to support local communities," said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas. "Through our members, we see the positive impact SNAP funding has on some of their most vulnerable residents. We are thankful for our ability to serve."
About Renasant
Renasant Corporation is the parent of Renasant Bank and Renasant Insurance. Renasant is a 111-year-old financial institution that has assets of approximately $5.8 billion and operates 120+ banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.
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 $38 billion as of December 31, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit fhlb.com.
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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