SAN ANTONIO, Dec. 17, 2009 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) joined USAA Federal Savings Bank on Friday, December 11, at a groundbreaking and tour to celebrate the final stage of renovations at the Southwest Center for Higher Independence (SCHI) and Maternity Center of the Methodist Mission Home (MMH) in San Antonio, Texas.
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In 2008, FHLB Dallas, through USAA Federal Savings Bank, awarded MMH a $272,000 Affordable Housing Program (AHP) grant to assist with the $2 million in renovations to SCHI dormitory, a transitional living facility for young adults, age 22 to 30, living with multiple disabilities.
"Through our partnership with USAA Federal Savings Bank, FHLB Dallas is able to contribute to the overall mission of MMH," said Terry Smith, President and CEO of FHLB Dallas. "The renovations will provide accommodations and amenities that SCHI residents both need and deserve in order to achieve a more independent lifestyle. We are proud to be a partner in MMH's continued efforts."
The renovations are part of a $5.5 million capital campaign to build the MMH endowment and renovate its 25-acre campus. Once complete, the SCHI dorm will have received full interior and exterior renovations, new plumbing and electrical systems, and brand new furniture. This is the first step in the campus renovations, and the recent groundbreaking celebrated the progress and the beginning of the next phase.
"For 33 years, Methodist Mission Home's Southwest Center for Higher Independence has become the home from which people living with serious disabilities reach for higher degrees of independence than they ever thought possible in all aspects of their working and personal lives," said Jennifer Sample, executive director of MMH. "Many years have passed since MMH has asked for resources to revitalize the campus, and the time has come to match the physical plant to the magnitude of the work being accomplished here."
Each year, FHLB Dallas returns 10 percent of its profits to the communities served by member institutions in the form of AHP grants issued through its member financial institutions. As of September 30, 2009, FHLB Dallas has awarded $8.4 million to projects within its five-state District, including $2.1 million to projects in Texas, resulting in the creation or renovation of 346 housing units in the state.
For more information about FHLB Dallas programs, please contact the Corporate Communications Department at 214.441.8445.
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 $67.3 billion as of September 30, 2009, 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 web site at fhlb.com.
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