GARLAND, Texas – (BUSINESS WIRE) – Nov. July 2021–
With temperatures well into the high 90s, Edward Montemayor, 58, knows the intensity of the Texan summer heat only too well. Last summer he lived without air conditioning for weeks. A $ 7,000 SNAP grant from Veritex Community Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) funded its air conditioning replacement this spring.
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Edward Montemayor received a $ 7,000 SNAP grant from Veritex Community Bank and FHLB Dallas to replace his air conditioning system. (Photo: Business Wire)
Mr. Montemayor worked his entire life, most recently in management, until he and his wife Michelle Perez lost their jobs due to the COVID-19 pandemic. Because of the loss of wages, they could not finance the house repairs. The couple sought help when the Texan summer heat made the house unbearably hot without working air conditioning.
Mr. Montemayor found out about SNAP through a sign in his neighbor’s garden. He asked the neighbor about the SNAP subsidy and called Veritex Community Bank to file an application. He received the maximum of $ 7,000 to replace his air conditioner.
“We are very humble and very blessed. I cannot say enough about what that means for us, ”said Mr Montemayor. “The means were almost too good to be true. There are not enough words to express our gratitude. “
Through member institutions such as the Veritex Community Bank, SNAP provides grants for the repair and renovation of owner-occupied living space for authorized persons with special needs. The maximum SNAP award per household is US $ 6,000 unless the member or other lender contributes US $ 350 towards rehabilitation costs and / or inspection fees. Then the maximum premium per household is $ 7,000.
“We are honored to help community members like Mr. Montemayor through difficult times,” said Melanie Goodman, Community Reinvestment Act Officer at Veritex Community Bank.
FHLB Dallas allocated $ 2.5 million of its Affordable Housing Program 2021 funds to SNAP, and all SNAP funds were allocated to the coveted program in January. Last year, the FHLB Dallas made $ 2.5 million in SNAP grants that helped 421 families. Since the program was launched in 2009, nearly $ 20.5 million in grants has been made in the five-state district of FHLB Dallas.
“SNAP enables us to work efficiently with member institutions like Veritex Community Bank to make a difference within the community,” said Greg Hettrick, first vice president and director of community investment at FHLB Dallas.
To learn more about SNAP, visit fhlb.com/snap.
Via the Veritex Community Bank
Veritex Community Bank is a medium-sized community bank that offers its customers a comprehensive range of banking products and services. The bank has several conveniently located offices in Houston, Fort Worth and Dallas, Texas, with total assets of over $ 8 billion. Headquartered in Dallas, Texas, the bank specializes in providing custody and credit services to small and medium-sized businesses that have been largely neglected by national banks. The name “Veritex” is derived from the Latin word “veritas” for truth and “Texas”.
Via the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system, which was founded by Congress in 1932. FHLB Dallas, with total assets of $ 61.1 billion as of March 31, 2021, is a member-owned cooperative that supports housing construction and community development by providing credit and other credit products at competitive prices to approximately 800 members and affiliated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, please visit our website at fhlb.com.
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CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: RESIDENTIAL CONSTRUCTION & REAL ESTATE BANKING CONSTRUCTION & REAL ESTATE PROFESSIONAL SERVICES OTHER CONSUMER PHILANTHROPY SENIORS OTHER PHILANTHROPY FUND RAISING CONSUMER FINANCE
SOURCE: Federal Home Loan Bank of Dallas
Copyright Business Wire 2021.
PUB: 7/23/2021 8:00 AM / DISC: 7/23/2021 8:02 AM
http://www.businesswire.com/news/home/20210723005063/en
Copyright Business Wire 2021.
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