PINE BLUFF, Ark., Oct. 19, 2011 (GLOBE NEWSWIRE) -- When the roof on Malissia and Maynard Darrough's home started to leak three years ago, it was a minor irritation. Over time, however, the leaking worsened until it developed into a big problem. Just getting enough pots placed in the right locations inside their house to catch the water every time it rained was a major undertaking.
The roof sorely needed to be replaced, but the Darroughs are both retired and living on disability payments, so they do not have a lot of money in their budget for home repairs.
That's why a $6,650 Special Needs Assistance Program (SNAP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Union Bank and Trust was such a blessing, Mrs. Darrough said. She is certain it was the answer to her prayers.
SNAP grants are made available through FHLB Dallas member institutions, including Union Bank and Trust, to assist income-qualified, special needs homeowners with necessary home repairs and modifications. In 2011, FHLB Dallas made $2.1 million in SNAP funding available to its members. Each SNAP recipient is eligible to receive up to $5,000, but if the participating 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. Union Bank and Trust has awarded $110,000 in SNAP grants in 2011 to 17 recipients.
The Darroughs were approved for the grant in April and they were soon able to hire contractors to put the new roof on the home they have lived in since 1983. They had raised their four children in the home, and were delighted to improve its condition.
Dream Maker Housing Counseling Agency worked with the Darroughs to help them apply for the grant. Its founder, Frances Newsome, visited their home several times to help with paperwork needed to apply for the SNAP funding. The completed application packet was then forwarded to Cassie Ply, compliance officer at Union Bank and Trust.
"Union Bank and Trust is able to use SNAP to give back to those in our community," said Ms. Ply. "It is such a wonderful program, and we are very proud of our partnership with Dream Maker Housing to facilitate the funding."
The Dream Housing agency was founded in 1998 with a mission of helping families become homeowners through education about the pros and cons of buying a home, the financial components, maintenance, and responsibilities of being a homeowner. Over time the agency expanded its focus to include other services, such as helping income qualified homeowners with emergency home repairs.
"The SNAP is very important because it helps make homes safer and healthier for the occupants," Ms. Newsome said.
In 2011, the agency worked on 15 SNAP grants for its clients for a total of $98,700.
"It's a really good program," Mrs. Darrough said. "I tell others about it all the time and they come by my house to see the work that was done. The workers did a very good job. They even replaced two of my flowers that they accidentally threw some of the roofing materials on. It has been a wonderful experience, and we are very grateful."
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 $31.4 billion as of June 30, 2011, 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 website at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013