Photo Release -- Veritex Community Bank and FHLB Dallas Assist Greater Garland Habitat Through Partnership Grant Program

Garland Habitat
Federal Home Loan Bank of Dallas Logo

GARLAND, Texas, Dec. 4, 2013 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) and Veritex Community Bank are pleased to announce they have awarded Habitat for Humanity of Greater Garland (HFHGG) a $4,000 grant through the Partnership Grant Program (PGP).

FHLB Dallas and Veritex Community Bank awarded Habitat for Humanity of Greater Garland a $4,000 grant through the Partnership Grant Program.

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=22548

The PGP award was announced at a check presentation last week, which was attended by Texas State Senator John Carona, State Representative Angie Chen Button, and Garland Mayor Douglas Athas.

"The City of Garland is honored to be a part of this event today," Mayor Athas said yesterday. "Habitat for Humanity serves a wide range of families in the Garland community, and we are pleased to know that the Federal Home Loan Bank of Dallas and Veritex Community Bank have made the commitment to provide a grant for $4,000 to this very deserving organization. Through this grant, Habitat for Humanity will be able to continue to rehabilitate and build homes in Garland."

HFHGG is a nonprofit established to provide homeownership opportunities to low- and moderate-income families through the rehabilitation of older homes and the construction of new homes. Over the last 20 years, HFHGG has rehabbed 47 homes and built 30 new homes. It will use the grant for organizational capacity building by offsetting operational and staffing expenses.

"HFHGG appreciates the commitment by FHLB Dallas and Veritex Community Bank through this partnership grant to further the mission of our organization to bring safe, decent, affordable housing to low-income families in our community," said HFHGG Executive Director Marty Rogers.

State Senator John Carona applauded the partnerships that led to HFHGG receiving the grant.

"It takes a partnership of several various entities to assure that some of our less fortunate among us have the ability to put a roof over their heads," said Senator Corona. "I am pleased that Habitat for Humanity of Greater Garland, Veritex Community Bank, and the Federal Home Loan Bank of Dallas have put forth that effort to create the partnership that will benefit those less fortunate in our immediate area."

Through the PGP, FHLB Dallas awards partnership grants through its member institutions, like Veritex Community 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.

"Veritex Community Bank is honored to partner with the Federal Home Loan Bank of Dallas in supporting such a valuable organization as the Habitat for Humanity of Greater Garland," said Mark Smith, Veritex Community Bank's market president – Lakewood. "Habitat works tirelessly to support and improve our community, and we are happy to assist the organization through the partnership grant."

Through its member institutions, FHLB Dallas awarded $225,000 in partnership grants in 2013.

"FHLB Dallas is pleased to assist HFHGG with its home rehab and construction efforts," said Bre Chapman, senior vice president and director of corporate communications and external affairs at FHLB Dallas. "Quality, affordable housing remains a critical need in North Texas, and we applaud HFHGG's efforts to increase the housing opportunities for lower income families."

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.

The photo is also available via AP PhotoExpress.

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

Source:Federal Home Loan Bank of Dallas