FHLB Dallas and Stellar Bank grant $85k to Houston nonprofits

On December 3, 2024, representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Stellar Bank will award $85,000 in grants to three community organizations in Houston, Texas. The recipients include the Community Development Corporation of Freedmens Town, which will receive $30,000, the Houston Real Estate Association CDC (HREACDC), which will also get $30,000, and the Credit Coalition, which will receive $25,000. This funding is part of the Partnership Grant Program, which encourages collaboration between member institutions and community nonprofits. The Partnership Grant Program allows FHLB Dallas member institutions to contribute between $500 and $5,000 to a nonprofit organization, which is then matched at a ratio of 5:1 by FHLB Dallas, providing up to $25,000 for each nonprofit per member. This initiative is aimed at fostering relationships between financial institutions and community-based organizations, ultimately strengthening the social fabric and resources available to local communities. In 2024, over $1.2 million in funding was distributed to 47 organizations through this program, reflecting the commitment of FHLB Dallas to support community development. Following the awards, representatives such as Marcus Vasquez from Stellar Bank and Mark Loya from FHLB Dallas will be present to acknowledge and celebrate the contributions of the recipient organizations. The event serves to highlight the importance of nonprofit work in Houston and the need for financial support in sustaining their operations. As organizations like Freedmens Town CDC, HREACDC, and Credit Coalition continue their vital services, these grants will allow them to expand their reach and impact. Parking for attendees will be available at 9 Greenway Plaza, with validation provided by Stellar Bank for those using the Life Time Garage. Expecting a positive response from the media and public, FHLB Dallas encourages widespread attendance to enhance visibility for these community endeavors. Thus, this grant ceremony not only signifies financial support but also the community's collaborative effort towards economic growth and welfare in Houston.