VICTORIA, Texas, April 22, 2013 (GLOBE NEWSWIRE) -- Refugio and Michaela Aleman have lived in their Victoria, Texas, home since 1977, but as the couple has aged, maintaining their beloved home is not always easy.
The home's roof was nearing 20 years old and was rapidly deteriorating. The Alemans knew that it had to be replaced, and soon, but didn't have the money to cover the expense. Mr. Aleman, 82, and Mrs. Aleman, 78, live on a fixed income and were afraid the roof would eventually collapse if it was not replaced.
After researching some options, Mrs. Aleman was referred to the city of Victoria for a grant program that could possibly fund the couple's new roof. The city partners with First Victoria National Bank to access grant funding through the Federal Home Loan Bank of Dallas's (FHLB Dallas) Special Needs Assistance Program (SNAP).
SNAP provides grant funding on a first come, first-served basis to income-qualified, special-needs homeowners for necessary home repairs and modifications. The funding is accessible through FHLB Dallas member institutions, such as First Victoria National Bank. Since the SNAP's inception in 2009, more than $6 million in SNAP grants have been awarded to 1,260 eligible homeowners.
"First Victoria National Bank strives to go above and beyond to exceed our customers' highest expectations, as well as serve our community as a whole," said Dorothy Jennings, senior vice president and CRA officer at First Victoria National Bank. "Our partnership with the city to distribute SNAP funding has been a great fit, and we are proud to be a part of their efforts to help restore and rehabilitate these homes for a better Victoria community."
The Alemans qualified for a $5,970 SNAP grant through FHLB Dallas, and First Victoria National Bank contributed an additional $350, to provide the couple with a total of $6,320 to replace their eroding roof. The work was completed last month.
"We were ecstatic when we found out we qualified for the grant," said Mrs. Aleman. "We are very grateful and the new roof looks really great. It is so nice to have this done, and now we don't have to worry about it anymore."
Darlah Sims, community development coordinator at the city of Victoria, said she works with the program every year, and SNAP grants have had a significant impact on many local families.
"SNAP has changed the lives of so many homeowners in our community," said Ms. Sims. "Our partnership with First Victoria National Bank and FHLB Dallas has really made a big difference for special-needs and elderly homeowners that can't always afford to maintain their homes. I've worked with SNAP since it was established, and year after year, I see firsthand what a difference it makes for the recipient families."
This year, FHLB Dallas made available $1 million in SNAP funding to its member institutions. For more information regarding SNAP, please visit the FHLB Dallas website at fhlb.com.
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 $35.8 billion as of December 31, 2012, 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.
CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445
Source:Federal Home Loan Bank of Dallas