ALBUQUERQUE, N.M., Dec. 13, 2012 (GLOBE NEWSWIRE) -- Representatives from Wells Fargo Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) gathered Wednesday to award the New Mexico Project for Financial Literacy, Inc. (NMPFL) and the Albuquerque Affordable Housing Coalition nearly $20,000 in Partnership Grant Program (PGP) funds.
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NMPFL was awarded $13,772 in PGP funds to assist with the execution of a new program that provides financial care giving strategies to families and professional caregivers of seniors in New Mexico. The Albuquerque Affordable Housing Coalition was awarded $6,000 to assist with operating and administrative expenses.
"This community, any community, relies on a great many partners working collaboratively if it is to make any progress," said State Senator Jerry Ortiz y Pino, D – Albuquerque. "The support from the Federal Home Loan Bank of Dallas and Wells Fargo for financial literacy and affordable housing in Albuquerque is a great example of this. Their financial assistance coupled with the old-fashioned mental and physical elbow grease of the local nonprofits that received the funds will ultimately help produce a more livable, nurturing community."
Partnership grants are awarded through FHLB Dallas member institutions, such as Wells Fargo, to assist with the operational needs of nonprofit, community-based organizations involved in affordable housing and community development. Partnership grants are based on cash contributions of $500 to $5,000 made by FHLB Dallas member institutions, which FHLB Dallas matches at a 3:1 ratio. FHLB Dallas awarded $225,000 in PGP grants this year.
"The two organizations we are supporting through the Partnership Grant Program showcase our commitment to partnering with organizations in the communities we serve," said Pat Nie, vice president, community development, at Wells Fargo. "NMPFL and the Albuquerque Affordable Housing Coalition provide much-needed services to the area, and we are proud to play a role in funding their valuable endeavors."
NMPFL is a nonprofit organization that provides quality, financial education in New Mexico. The organization works with businesses, state agencies, and nonprofit organizations to deliver financial education and financial life skills to the citizens and residents of New Mexico, including financial information for homebuyers. NMPFL will use the PGP funds to expand its program to provide a 10-hour financial care giving course for professional and family caregivers of seniors, according to Vicki Van Horn, executive director of NMPFL.
"The course is for people who know seniors, have seniors in their family, or will be seniors themselves one day," she said. "The course will be co-taught with a financial planner and social worker, and will cover strategies for dealing with siblings, active listening skills, opening difficult discussions, housing issues, social security, estate planning, and a variety of other topics."
This is the third partnership grant NMPFL has received.
"I'm really excited about this course. We already have two sessions scheduled," Ms. Van Horn said. "It would have been impossible without the money we got from the PGP and other donors."
The Albuquerque Affordable Housing Coalition will use its PGP funds for educational programming related to the 2013 Albuquerque bond cycle ballot question on the Workforce Housing Trust Fund. Created in 2006, the Workforce Housing Trust Fund provides ongoing funding to develop high-quality affordable housing for veterans, seniors, and low-wage workers.
"We try to facilitate discussion around the need for affordable housing," said Louis Kolker, chairman of the coalition. "It's always nice to have money come your way. As an organization that has no steady stream of income, it's very helpful to get support from financial institutions like FHLB Dallas and Wells Fargo. The money is very welcome and very appreciated."
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 $35.2 billion as of September 30, 2012, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to more than 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