MONROE, La., Oct. 26, 2011 (GLOBE NEWSWIRE) -- BancorpSouth Bank, Community Trust Bank, IBERIABANK, Ouachita Independent Bank (OIB), and the Federal Home Loan Bank of Dallas (FHLB Dallas) are pleased to announce they have granted $20,000 in Partnership Grant Program (PGP) awards to NOVA Workforce Institute of Northeast Louisiana (NOVA). The checks were presented during a media event today at Community Trust Bank.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10934
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 NOVA, which provides workforce training and connects the needs of employers with residents in Northeast Louisiana. NOVA works diligently to insure a viable workforce for companies and living wage jobs and benefits for employees," said the senator.
NOVA plans to use the PGP funds to assist with organizational capacity building, applying for grants, and/or other funding or contractual services. NOVA connects the workforce needs of employers with Northeast Louisiana residents in search of living wage jobs and benefits.
"These grants allow us to provide more opportunities for people in search of a living wage job, and at the same time we're building a stronger workforce in our community to help people get to a place of self-sufficiency," said Paul West, executive director of NOVA. "We're impacting people, who in turn are impacting employers through going to work and being productive members of the community. As a result, we are having a social and an economic impact on our community and region."
NOVA has received great support from the cities it serves.
"By working together, we are stronger," said Monroe Mayor Jamie Mayo. "The City of Monroe has been a proud financial partner of NOVA Workforce Institute for multiple years. It is great to see more corporate citizens take an active role in supporting NOVA's efforts to help connect employers and workers in our region."
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.
Four FHLB Dallas member institutions awarded partnership grants to NOVA.
BancorpSouth Bank and FHLB Dallas awarded a $6,000 PGP grant to NOVA.
"As corporate citizens, BancorpSouth is excited to partner again this year with the Federal Home Loan Bank of Dallas in making this contribution to NOVA," said L.J. Holland, Monroe Division president for BancorpSouth. "NOVA is an invaluable resource and an example of how collaboration between corporations, technical and community colleges, and our local university can develop a work-ready workforce by utilizing the underemployed or unemployed individuals in our community. This effort will not only impact these individuals, but also future generations."
Community Trust Bank and FHLB Dallas awarded a $6,000 PGP grant to NOVA.
"Community Trust Bank has always been committed to being a partner this community can depend on. We're pleased to be able to contribute to this grant program that benefits not-for-profits like NOVA, an organization that takes great strides to make a positive impact in the community and local workforce," said Lance Hall, regional president for Community Trust Bank.
IBERIABANK and FHLB Dallas awarded a $6,000 PGP grant to NOVA.
"IBERIABANK is proud to support an organization committed to connecting hardworking citizens with jobs that provide opportunities and a career path," said Paul Hutcheson, Northeast Louisiana Market President for IBERIABANK. "With the positive impact NOVA is making on our communities, we are very pleased to play a role in awarding NOVA $20,000 in partnership grants."
OIB and FHLB Dallas awarded a $2,000 PGP grant to NOVA.
"Ouachita Independent Bank is proud to support NOVA, both financially and through an employee serving on the advisory council," said Alisa Nappier, vice president of human resources for OIB. "NOVA does an excellent job of preparing unemployed and sometimes seemingly unemployable individuals for the workforce. Through partnerships with training facilities and area employers, NOVA also teaches the much needed soft skills required to succeed in a job. To hear the success stories of some of these citizens is so very touching and makes us very proud to be a part of NOVA."
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
The photo is also available via AP PhotoExpress.
