MANSFIELD, La., Aug. 29, 2012 (GLOBE NEWSWIRE) -- Ira Montgomery has lived in the same location in Mansfield, Louisiana, for 40 years, but the old frame house was in serious disrepair and a few years ago it became uninhabitable. Mrs. Montgomery opted to have a manufactured home moved onto the property, which is where she now resides.
At 87, Mrs. Montgomery needed help getting in and out of her manufactured home, but she lives on a fixed income that leaves little or no room to pay for any improvements — even those that make her home safer.
Mrs. Montgomery's daughter-in-law attended a presentation by the local Chamber of Commerce where she learned about a grant program that might help her mother-in-law get some work done on her house.
Mrs. Montgomery contacted Peoples State Bank where Vice President/CRA Officer LaCarsha Babers helped Mrs. Montgomery complete the paperwork needed for her to receive a Special Needs Assistance Program (SNAP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas).
Mrs. Montgomery's grant was approved and funds were distributed through Peoples State Bank that not only paid to have a new handicap accessible ramp constructed on the front of her manufactured home, but also funded the cost of applying a sealant to the roof to stop leaks.
"Mrs. Montgomery was thrilled to receive assistance from FHLB Dallas and says the ramp will help prevent her from being injured in her old age," Mrs. Babers said.
SNAP grants are made available through FHLB Dallas member institutions, such as Peoples State Bank, to assist income-qualified, special needs homeowners with necessary home repairs and modifications. In 2012, FHLB Dallas made $1.35 million in SNAP funding available to its members.
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 $34.7 billion as of June 30, 2012, 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 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
About Peoples State Bank
Peoples State Bank is a community bank established in 1913 with locations in Rapides, Sabine, DeSoto, Natchitoches, and Caddo Parishes in Louisiana as well as the greater Texarkana and Bowie County, Texas area. The bank is committed to meeting the financial needs of its communities through innovative financial solutions such as SNAP. For more information on Peoples State Bank and its services, visit a local branch or go online to PeoplesState.com.