GARLAND, Texas – (BUSINESS WIRE) – Dec. July 2021–
A $ 7,000 SNAP grant from Veritex Community Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) funded sewer replacement for an elderly couple in Garland, Texas.
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A couple from Garland, Texas, were able to replace a damaged sewer line to their home with funding from Veritex Community Bank and FHLB Dallas. (Photo: Business Wire)
Tommy and Marylyn Wilkerson, both 84, have lived in their home for 50 years. As the house got older, they began to experience serious plumbing problems, to the extent that they were unable to use one of the bathrooms in their home.
The repair of an external sewer system could be financed with the SNAP grant. Upon inspection of the pipeline, it found there was significant damage, including multiple disconnections and disconnection from the city’s main sewers.
The couple’s daughter, Beverly Melton, found out about SNAP through a family friend.
“I’m so grateful to FHLB Dallas and Veritex Community Bank,” said Ms. Melton, who cares for her parents. “You couldn’t have picked someone who would appreciate it more. We are so grateful to receive the money. “
Through member institutions such as the Veritex Community Bank, SNAP provides grants for the repair and renovation of owner-occupied living space by 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.
“SNAP helps elderly and disabled homeowners like the Wilkersons who need critical repairs but may have a steady income,” said Melanie Goodman, Community Reinvestment Act Officer at Veritex Community Bank. “This program is vital to helping members of our community continue to live independently in their homes.”
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 SNAP grants to help 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.
“Our partnership with Veritex Community Bank enables us to give back to the community by helping families in need,” said Greg Hettrick, first vice president and director of community investment at the FHLB Dallas program. “
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 established 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: CONSTRUCTION & REAL ESTATE FINANCE SENIOR BANKS PROFESSIONAL SERVICES PHILANTHROPY CONSUMER OTHER PHILANTHROPY RESIDENTIAL CONSTRUCTION & REAL ESTATE
SOURCE: Federal Home Loan Bank of Dallas
Copyright Business Wire 2021.
PUB: 07/13/2021 4:43 pm / DISC: 07/13/2021 4:43 pm
http://www.businesswire.com/news/home/2021073006148/en
Copyright Business Wire 2021.
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