OGDEN, Utah, June 27, 2023 (GLOBE NEWSWIRE) -- TAB Bank, a technology-driven, online bank serving small businesses, families, and individuals, in collaboration with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), is offering $166,183 to a total of six Utah non-profit organizations for critical financial support for affordable housing and community development initiatives. As mentioned, TAB Bank is joining FHLB Des Moines, which administers a Member Impact Fund, a fund providing nearly $15 million in grants to hundreds of non-profit or government agencies.
FHLB Des Moines received more than 500 applications from 85 members in Hawaii, Idaho, Utah, Wyoming, and the U.S. territories of Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. The following Utah organizations are receiving a total of $46,000 from TAB Bank and $120,183 from the Member Impact Fund:
- EnableUtah Inc.—TAB Bank Grant $7,000, FHLB Grant $18,289, Total $25,289
- United Way of Northern Utah—TAB Bank Grant $9,000, FHLB Grant $23,514, Total $32,514
- Utah Center for Neighborhood Stabilization—TAB Bank Grant $5,000, FHLB Grant $13,063, Total $18,063
- Utah Association of Family Support Centers—TAB Bank Grant $10,000, FHLB Grant $26,127, Total $36,127
- YCC Family Crisis Center—TAB Bank Grant $5,000, FHLB Grant $13,063, Total $18,063
- Habitat for Humanity of Weber and Davis Counties—TAB Bank Grant $10,000, FHLB Grant $26,127, Total $36,127
“We are thrilled to play a pivotal role in securing critically needed funds to these outstanding organizations to assist in offering affordable housing and community development in Utah,” said Richard L. Bozzelli, TAB Bank President and CEO. “The grants showcase TAB Bank’s permanent commitment to give back to the communities we serve and provide trusted banking services to commercial businesses and consumers, in Utah and throughout the United States.”
The Member Impact Fund increased from $10 million in 2022 to $15 million in 2023, but grant requests exceeded available funds by $2.2 million. The fund offers a nearly $3-to-$1 match of member donations and will be used for a variety of purposes including but not limited to, job training, down payment assistance, strategic planning, financial literacy, food banks, youth programs and more.
About TAB Bank
TAB Bank is an innovative and technology-forward bank offering custom banking solutions to consumers and commercial businesses across a wide range of industries throughout the country. Our bank is and has always been a completely mobile online solution that makes banking easier and more intuitive. After 25 years TAB Bank’s focus remains with providing banking solutions to ensure financial success of our clients.
For more information, visit www.TABBank.com.
Contact
Trevor Morris
Director of Marketing
801-624-5172
trevor.morris@tabbank.com
Twitter - @TABBank
Facebook – facebook.com/TABbank
