DALLAS, Aug. 5, 2010 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (Bank) is pleased to announce that it is making available, through its member institutions, $225,000 in partnership grant funds to assist eligible community-based organizations.
Partnership grants are offered through the Bank's member institutions on a first-come, first-served basis. The grants provide funding for the operational needs of community-based organizations involved in affordable housing activities. The Bank matches, at a 3:1 ratio, its members' cash contributions of $500 up to $5,000 to a community-based organization. The maximum matching contribution from the Bank is $15,000, allowing a community-based organization to receive $20,000 from the Bank and the sponsoring member.
More information on the grant, including the criteria and the application, are available on the Bank's web site at www.fhlb.com/community/ahp_partnership.html. The Bank will begin accepting applications on September 1, 2010. Any applications received prior to that date will not be considered.
All applications must be accompanied by a 501(c)(3) nonprofit designation from the Internal Revenue Service, a commitment letter from the member institution that is providing the matching funds, and a 2010 "Certificate of Good Standing" from the community-based organization's state of incorporation.
Since the start of the Partnership Grant Program (PGP) in 1996, the Bank has awarded $2.94 million in partnership grants through its member institutions. The funds have been used for computer software purchases, marketing, and administrative costs, among other purposes.
A list of the Bank's member institutions is available on its web site at www.fhlb.com/member/.
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. The Bank, with total assets of $57.1 billion as of June 30, 2010, is a member-owned cooperative that supports housing and community development by providing competitively priced loans 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 Bank's web site at www.fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013