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SOURCE Federal Home Loan Bank of Dallas
TUPELO, Miss., July 25, 2014 /PRNewswire/ -- The city of Tupelo, Mississippi, is famous for being the birthplace of Elvis Presley. What people don't know is that the city is quickly gaining a reputation for providing help to its most vulnerable residents.
So far in 2014, Tupelo has received approximately $134,000 in Special Needs Assistance Program (SNAP) grants – the highest amount of any city in the state of Mississippi, at more than 32 percent of the total SNAP grants awarded in the state.
SNAP grants are offered by Federal Home Loan Bank of Dallas (FHLB Dallas) through its member institutions, to provide income-qualified, special needs homeowners with funds for making needed repairs or adapting their homes to meet their special needs. In 2014, 40 Tupelo homeowners have received SNAP grants to repair their homes.
"The Federal Home Loan Bank of Dallas has a spectacular history of progress in its pursuit of assisting SNAP grant recipients throughout its five-state district," said Mississippi State Representative Steve Holland. "It has been my personal privilege to see the vast improvements the SNAP grants have provided in my legislative district in Tupelo/Lee County, Mississippi. I proudly endorse FHLB Dallas in its efforts to enhance the quality of our citizens' lives, through property improvements and rehabilitation from the SNAP grant program, and I express the deepest gratitude for the continuing commitment of FHLB Dallas."
Four Mississippi-based FHLB Dallas member institutions – BNA Bank, BancorpSouth Bank, Renasant Bank, and Trustmark National Bank – along with the nonprofit Neighborhood Development Corporation, were instrumental in providing the SNAP grants in Tupelo this year.
"The SNAP grants have been a tremendous blessing to the special needs and elderly homeowners to correct deficiencies in their homes," said George Taylor, treasurer of Neighborhood Development Corporation (NDC), a nonprofit organization that partners with the city of Tupelo to administer the SNAP grants. "The generosity of FHLB Dallas in providing this program speaks well for the organization in how they give back to the communities they serve."
Tupelo Mayor Jason L. Shelton, said SNAP is making a positive impact on the citizens of his community.
"On behalf of the city of Tupelo, I would like to extend my appreciation to the Federal Home Loan Bank of Dallas, BancorpSouth Bank, Renasant Bank, Trustmark National Bank, BNA Bank and NDC, for the SNAP grants they have provided to help repair the homes of our elderly and disabled citizens," said Mayor Shelton. "These grants not only improve the quality of life of those who directly receive the benefit, they also enhance our neighborhoods as a whole."
SNAP is one of FHLB Dallas' most utilized grant programs, prompting FHLB Dallas to allocate $1.85 million in SNAP funds this year. FHLB Dallas Vice President and Director of Community Investment Greg Hettrick is delighted to see the continuous demand for the grants from FHLB Dallas' member institutions.
"The relationship between the city of Tupelo and our local member financial institutions is a great example of a public-private partnership that provides a needed boost to existing homeowners with special needs," Mr. Hettrick said.
SNAP grants have provided repairs and modifications ranging from electrical repairs to roof replacements for residents in the city.
Tupelo resident Virginia Isby received a new roof, soffit, fascia board, window and a storm door, thanks to a $5,000 SNAP grant funded through Renasant Bank.
"I am so blessed," said Ms. Isby, a 62-year-old, living on disability. "It makes my heart heavy when I think about how much I was helped by the work on my home."
A $5,000 SNAP grant funded repairs to the electrical system in 80-year-old Geraldine Payne's home. Prior to receiving the grant, the electrical fuses blew and the power shut off every time it rained. Now Ms. Payne can rest easy when she hears the sound of thunder, as she knows her home is safe.
FHLB Dallas member institutions rely on SNAP to assist residents in the communities they serve.
"BancorpSouth Bank has been using SNAP since it was first available in 2009," said BancorpSouth Bank Vice President Chip Ashford. "The city of Tupelo has been a valuable partner in disbursing the funds in our community. We are proud to be a part of their efforts, and are always happy to go above our banking duties and give back to those in need."
Since SNAP's inception in 2009, more than $7.3 million in SNAP grants have been awarded to assist 1,464 families throughout FHLB Dallas' five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
To learn more about SNAP and other FHLB Dallas programs, visit fhlb.com
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 $30.6 billion as of March 31, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
Federal Home Loan Bank of Dallas
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