COLUMBUS, Ohio, Aug. 14, 2015 (GLOBE NEWSWIRE) -- Volunteers from the Federal Home Loan Bank of Cincinnati worked to build a home with Habitat for Humanity MidOhio, joined by volunteers from Arlington Bank. Each year the FHLBank selects a location from its three-state service area of Kentucky, Ohio and Tennessee, to help with affordable home construction, in support of the FHLBank's Congressionally-established Affordable Housing Program (AHP), which this year marks its 25th anniversary.
The home, located at 79 Reeb Ave. in the Reeb-Hosack neighborhood, is being built for Columbus resident Stephanie Green and her family. This home is funded in part from a grant of $350,000 from the FHLBank's AHP, awarded in 2013 to Habitat MidOhio and FHLBank member Arlington Bank toward the construction of 20 homes. Partners for over two decades, the FHLBank has awarded Habitat MidOhio nearly $1.6 million in AHP grant funds toward more than 130 new homes.
Andrew S. Howell, President and CEO of the FHLBank, was among employees helping to build the home. "We take great pride in helping to create good housing for deserving families," Mr. Howell said. "Affordable housing is at the center of the FHLBank's mission, and coming to Columbus today to meet Stephanie Green and her family, to help build this home, is extremely gratifying for all of us."
To help celebrate the 25th anniversary of the Affordable Housing Program, U.S. Representative Joyce Beatty of Ohio's 3rd Congressional District visited the Habitat family and partners at the build site.
Through the AHP, the FHLBank has awarded $555 million since 1990 to help create 72,000 units of affordable housing. Nationally, the 11 banks of the FHLBank System are the largest corporate supporters of Habitat for Humanity, contributing to the construction of one in three Habitat homes. Since 1990, the FHLBank Cincinnati has awarded nearly $2.6 million toward the construction of over 250 Habitat homes in the Columbus area.
The Federal Home Loan Bank of Cincinnati is a $100 billion regional wholesale bank providing financial services for residential housing and economic development to 693 member financial institutions located in the Fifth FHLBank District of Kentucky, Ohio and Tennessee. The FHLBank is rated Aaa by Moody's. The FHLBank System, including 11 district FHLBanks and nearly 7,000 members, was chartered in 1932 by the U.S. Congress to promote housing finance but is wholly owned by its member institution stockholders and does not use taxpayer dollars.
CONTACT: John Byczkowski, FHLB Cincinnati 513.852.7085 (office) or 513.382.7615 (cell)
Source:Federal Home Loan Bank of Cincinnati