DALLAS – (BUSINESS WIRE) – The Federal Home Loan Bank of Dallas (FHLB Dallas) donated $ 500,000 to the Greater New Orleans Foundation (Foundation) to aid recovery efforts from Hurricane Ida.
The FHLB Dallas is a financial cooperative association with approximately 800 members in five states, including banks and credit unions and their customers who were affected by Hurricane Ida.
“Hurricane Ida devastated southern Louisiana and it will take months and years to rebuild and restore,” said Greg Hettrick, first vice president and director of community investment for FHLB Dallas. “We hope that this donation to the Greater New Orleans Foundation, which has extensive expertise in this area, including work following Hurricane Katrina in 2005, will support this long-term endeavor.”
The foundation plans to use the funds to support disaster relief in the area, said Kenneth St. Charles, the foundation’s vice president of philanthropy. He said the foundation will fund nonprofits in a region of 13 parishes.
“We thank FHLB Dallas for their generous donation in helping us make these life-saving grants to organizations that help with response and recovery,” he said.
The foundation has already raised more than $ 1.8 million for Hurricane Ida, said Dr. St. Charles, and the latest aid comes at a critical time.
“We see immediate and extremely critical needs for families who have lost their homes due to flooding,” he said. “The needs are simple, like food, shelter, cleaning supplies, diapers and blue tarpaulin to cover damaged roofs. We are also seeing needs from families who have had to move to a safe place, the elderly who may be lacking resources, and homeowners who need help filing insurance claims. ”
He said that organizations that come together make a difference.
“Thanks to the generosity of donors like FHLB Dallas, we can do this work with the help of a network of non-profit partners; I invite everyone who has this focus to turn to us, ”said Dr. St. Charles.
In addition to the donation to the foundation, FHLB Dallas donated $ 500,000 to other charities in the area, including food banks. FHLB Dallas, through its member institutions, has also provided $ 2.5 million in Hurricane Recovery Grant program funds to support member staff members affected by the disaster; an additional $ 500,000 by members through its Disaster Recovery Assistance Program, which provides repair and refurbishment finance for qualified home ownership; and low-cost advances (loans) to members through the Disaster Relief Program.
Via the Greater New Orleans Foundation
With nearly 100 years of roots, the Greater New Orleans Foundation has more than 1,000 different philanthropic funds and assets of $ 460 million. The foundation serves the 13 community areas of Southeast Louisiana, including Assumption, Lafourche, Terrebonne, St. Charles, St. James, St. John, St. Tammany, Jefferson, Orleans, Plaquemines, St. Bernard, Tangipahoa, and Washington. Over 900 local nonprofits participate in their annual online donation day, GiveNOLA Day, which has raised over $ 40 million for nonprofits over the past eight years. The Greater New Orleans Foundation has responded to every disaster since Hurricane Katrina by leading the Unified Community Planning Effort and a $ 23 million fund for affordable housing. More recently, it has raised and distributed nearly $ 7 million in response to the COVID-19 pandemic. In response to Hurricane Ida, the foundation has raised over $ 4 million from more than 1,100 individual donors, corporations, and foundations and distributed funds to help nonprofits prepare for Hurricane Ida.
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 $ 58.6 billion as of June 30, 2021, is a member-owned cooperative that supports housing and community development by providing credit and other credit products at competitive prices to approximately 800 members and affiliates Institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, please visit our website at fhlb.com.
[ad_1]
