WEST MONROE, La., Oct. 26, 2011 (GLOBE NEWSWIRE) -- Ouachita Independent Bank (OIB), Community Trust Bank, Progressive Bank, Richland State Bank, Cross Keys Bank, BancorpSouth Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) are pleased to announce they have granted $18,500 in Partnership Grant Program (PGP) awards to Family Promise of Ouachita (Family Promise). The checks were presented during a media event today at Family Promise's new Day Center in West Monroe, Louisiana.
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Louisiana State Senator Francis Thompson, D-Delhi, was also present at the event.
"We are always thankful for and welcome funding for organizations such as Family Promise of Ouachita, which works diligently to meet the needs of homeless families including transitional housing, meals, and supportive services in the Ouachita Parish area," said the senator.
Family Promise will use the PGP funds to help with monthly operating expenses. Family Promise is a nonprofit organization that is committed to helping low-income families achieve lasting independence. The nonprofit partners with local churches and social service agencies to provide transitional housing, meals, and supportive services to homeless families.
"Most of the funds will be used toward our operating expenses, but we are also trying to open a new day care center, as well as a thrift store. We have a couple of projects going on and the grants will help in all these areas," said Family Promise Executive Director Sandra Jones.
This is the second round of grants Family Promise has received through the PGP. Last year the organization was awarded $20,000 in PGP funds.
"The grants were very beneficial last year in helping to open our new Day Center," said Ms. Jones. The Day Center provides the organization's families with a place to store their personal items, take classes, handle their daily business, do laundry, and shower. It also houses Family Promise's offices."
Through the PGP, FHLB Dallas awards partnership grants through its member institutions to provide funding for the operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches a member's cash contribution to a community-based organization of $500 up to $5,000 at a 3:1 ratio. Through its member institutions, FHLB Dallas awarded $225,000 in partnership grants in 2011.
Louisiana State Representative Frank Hoffman, R-West Monroe, spoke at the event.
"Family Promise provides much needed housing, meals, and services to homeless families. Already working with the faith-based community, this partnership with the business community means we are all working together for good. May God continue to bless Family Promise," said Representative Hoffmann.
Six FHLB Dallas member institutions awarded partnership grants to Family Promise.
BancorpSouth Bank and FHLB Dallas awarded a $2,800 PGP grant to Family Promise of Ouachita.
"BancorpSouth is pleased to once again help support the Family Promise program in our area. We feel that keeping the family unit together, especially during difficult times, is critical and will have the greatest result in these families once again becoming self supporting. This further strengthens the family unit and ultimately our community," said L.J. Holland, Monroe division president for BancorpSouth.
Community Trust Bank and FHLB Dallas awarded a $4,320 PGP grant to Family Promise of Ouachita.
"Community Trust Bank is pleased to continue its support for Family Promise of Ouachita. Family Promise is committed to making a positive impact in this community, a value we at Community Trust Bank respect and live by every day," said Community Trust Regional President Lance Hall. "By using these funds for services, including this day care center, Family Promise can further its mission and help the less fortunate in our area."
Cross Keys Bank and FHLB Dallas awarded a $1,460 PGP grant to Family Promise of Ouachita.
"Our contribution is only a symbol of the commitment we made in 1902. Just as local banks are the source of finance for our community, families are the source of stability," said Jim Cuthbert, senior vice president at Cross Keys Bank. "We may never know all the good works that are done through Family Promise, but we know that they are substantial and will have lasting benefits. Cross Keys Bank is proud to partner with Family Promise of Ouachita and FHLB Dallas."
OIB and FHLB Dallas awarded a $4,320 PGP grant to Family Promise of Ouachita.
"We have found this to be a rewarding experience, not only because we know that we are helping an organization that is addressing a critical need in our area, but also because it enabled us to work with five other banks cooperatively in order to make this happen," said OIB Chairman and CEO Clyde White.
Progressive Bank and FHLB Dallas awarded a $2,800 PGP grant to Family Promise of Ouachita.
"Contributing to the communities we serve through our time, talents, and resources is one of Progressive Bank's four stated missions," said Progressive Bank President George W. Cummings III. "We are pleased to have the opportunity again this year to participate with the Dallas Federal Home Loan Bank in the Partnership Grant Program for Family Promise of Ouachita, as it works to meet the needs of the low-income or homeless families in our community."
Richland State Bank and FHLB Dallas awarded a $2,800 PGP grant to Family Promise of Ouachita.
"For 110 years, the Richland State Bank has been assisting in meeting the needs of our communities. Sandra and her staff, as well as the many volunteers at Family Promise have been exemplary in carrying out a ministry that meets the most basic needs for families needing a boost to get on their feet," said Richland State Bank President and CEO Jerome Vascocu. "We are humbled to play even a small part. Also, thanks to the staff of the Dallas Federal Home Loan Bank, who shepherd the grant process."
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.
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