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Photo Release -- SNAP Grant Helps Homeowner Fix a Lingering Problem

Mary Taylor
Federal Home Loan Bank of Dallas Logo

FORDYCE, Ark., June 12, 2013 (GLOBE NEWSWIRE) -- It had been nearly a year since Mary Taylor first started having problems with a room addition on her home.

A Special Needs Assistance Program grant from FBT Bank & Mortgage and FHLB Dallas helped Fordyce, Arkansas, resident Mary Taylor rid her home of leaks around her ceiling, door, and window.


A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=19274

The room, built at the front of the house and used as a living room, would leak during storms. Rain was coming in through the ceiling and a window. Although Ms. Taylor sought repairs, they didn't fix the problem.

Then she heard about a special grant program offered through FBT Bank & Mortgage that might be able to help. The Special Needs Assistance Program (SNAP) is offered by the Federal Home Loan Bank of Dallas (FHLB Dallas) through its member institutions, such as FBT Bank & Mortgage. SNAP provides grants to assist income-qualified, special-needs homeowners with necessary home repairs and modifications.

"I'm on a disability, and I don't draw that much," Ms. Taylor, 64, said. "The jobs I worked at didn't pay much and I have no retirement plan."

Ms. Taylor qualified for a $4,000 SNAP grant.

Scott Smith, vice president at FBT Bank & Mortgage, said SNAP is making a positive difference in Fordyce.

"We've seen first-hand how SNAP is improving living conditions for Fordyce residents," Mr. Smith said. "It's been great to partner with FHLB Dallas on this important outreach program."

Ms. Taylor said she's shared with others how the program helped her.

"It turned out well. They did a beautiful job and stopped the leaking," she said. "It's nice and we appreciate everything that has been done."

SNAP was established in 2009 by FHLB Dallas and is available through its member institutions. Since its inception, SNAP has awarded more than $6 million in grant funds to 1,260 eligible homeowners. In 2013, FHLB Dallas made available $1 million in SNAP grants.

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 billion as of March 31, 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