HOUSTON, Nov. 14, 2013 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) and Comerica Bank are pleased to announce they have awarded $20,000 in Partnership Grant Program (PGP) funds to the Houston Citizens Chamber Foundation.
The Houston Citizens Chamber Foundation was established to provide support toward advancing, educating, equipping, and empowering minority business entrepreneurs, professionals, and students. This 37-year-old nonprofit has partnered with local businesses and higher education institutions to assist minority entrepreneurs in generating and facilitating growth for their businesses by providing technical assistance services.
Comerica Bank and FHLB Dallas held a check presentation today at the Houston Citizens Chamber Foundation offices to announce the grant.
"Comerica Bank is pleased to strengthen our community outreach and investment efforts by participating in the Federal Home Loan Bank of Dallas' Partnership Grant Program," said J. Downey Bridgwater, Comerica's Houston market president. "Supporting nonprofits like the Houston Citizens Chamber Foundation that help educate and train local entrepreneurs is a worthwhile investment in our community and local economy."
Through the PGP, FHLB Dallas awards partnership grants through its member institutions, like Comerica 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. Through its member institutions, FHLB Dallas awarded $225,000 in partnership grants in 2013.
"FHLB Dallas is excited to partner with Comerica Bank in awarding a partnership grant to an organization that is so entrenched in the community," said Bre Chapman, senior vice president and director of corporate communication and external affairs at FHLB Dallas. "By leveraging the PGP funds, Comerica Bank is able to increase the overall grant to the Citizens Chamber Foundation. It's a win-win for everyone involved."
"The Houston Citizens Chamber Foundation will use the PGP funds for organization capacity building," said Eric Lyons, president of the Houston Citizens Chamber Foundation.
"Part of the funds will be used to offset the underwriting of the payment for interns from local colleges and universities to augment our staffing and, at the same time, provide the students with real-time experience in supporting our projects and programs," Mr. Lyons said. "We're also using part of the funds for general operating expenses for the foundation itself."
Mr. Lyons learned of the PGP through one of the organization's banking partners at Comerica Bank.
"They've been a longtime supporter of the foundation, the chamber, and our educational endeavors, and the partnership grant has allowed us to fund support of college students, as well as expand the breadth of the foundation's operations and programs."
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 $31.3 billion as of September 30, 2013, 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 the FHLB Dallas website at fhlb.com.
About Comerica Bank
Comerica Incorporated (NYSE:CMA) is 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. To find Comerica Bank on Facebook, please visit www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares and follow Comerica Chief Economist Robert Dye on Twitter at @Comerica_Econ.
CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445
Source:Federal Home Loan Bank of Dallas