BREAUX BRIDGE, La., June 23, 2010 (GLOBE NEWSWIRE) -- Deanna and Glenn Menard have spent their golden years caring for their paraplegic son, while they battle their own physical disabilities.
Mrs. Menard, 60, suffers from fibromyalgia and is in constant pain. Her husband, a 52-year-old retired trucker, has chronic, obstructive lung disease. So when the couple needed to replace their handicap accessible ramp because it was too steep for Mrs. Menard to travel up without knee pain, there was no extra money to replace the ramp.
An unexpected call from Stephanie John, assistant vice president and BSA security officer for Farmers and Merchants Bank (FM Bank) in Breaux Bridge, Louisiana, turned out to be just what the couple needed. Ms. John knew of the couple's situation, and qualified them for a $5,000 Special Needs Assistance Program (SNAP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas).
In 2010, FHLB Dallas set aside $1.5 million of its annual Affordable Housing Program (AHP) funds for SNAP, a rehabilitation program available through FHLB Dallas member institutions, such as FM Bank, to provide grant funds to assist income-qualified, special needs homeowners with necessary home repairs and modifications. Each SNAP recipient is eligible to receive up to $5,000. If a member financial institution contributes at least $350 toward costs associated with the rehabilitation, the homeowner is eligible to receive up to $7,000 from FHLB Dallas.
"Being a member of the Federal Home Loan Bank of Dallas and taking advantage of all of its offerings allows FM Bank to help provide community assistance we otherwise would not be able to provide," said FM Bank Chairman of the Board Tommy Huval. "Financial support like this allows necessary needs to be met and gives the recipients opportunities for a more satisfying life."
The Menards used the grant money to replace their wheelchair ramp, as well as to replace a dilapidated tub with a new whirlpool tub. "I had a ramp, but it was too steep," said Mrs. Menard. "I couldn't really walk up it without my knees buckling. We installed a new one, and I can now walk up it without difficulty. And it's covered so I am able to take my time when it's raining so I don't have to rush to bring in my groceries."
In addition, the whirlpool tub has helped with Mrs. Menard's pain management. "I can sleep well at night, and I don't have to take as much pain medication," she said.
In 2010, FM Bank has received $50,321 in funding for SNAP grants to assist 11 families.
Mrs. Menard says she wouldn't have been able to make the modifications to her home without the help of the grant and FM Bank.
"FM Bank is like family to us," she said. "We've been with them for a long time. We're a small, rural community and they are like family."
For more information about FHLB Dallas programs, please contact the Corporate Communications Department at 214.441.8445.
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 $58.7 billion as of March 31, 2010, 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. For more information, visit the FHLB Dallas web site at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013
About Farmers & Merchants Bank
Farmers-Merchants Bank & Trust, FM Bank, chartered in 1932 and based in Louisiana's St. Martin Parish, is a proud supportive member institution of the Federal Home Loan Bank of Dallas. FM Bank has seven locations across the state's Acadiana region, including: Breaux Bridge, Lafayette, Cecilia, Henderson, and Arnaudville. To find out more about who we are, visit FM Bank online at FMBanking.com.