Houston Nonprofits Awarded Grants to Support Affordable Housing and Financial Education
HOUSTON, TEXAS, December 4, 2024 — Three Houston-based community development organizations have received a combined total of $85,000 in grants to support vital programs focused on affordable housing and financial well-being. The funding comes through the Partnership Grant Program (PGP), a collaborative effort between the Federal Home Loan Bank of Dallas (FHLB Dallas) and Stellar Bank.
The PGP, a testament to the continued commitment to strengthening communities, provides a 5:1 match of member contributions, with each FHLB Dallas member eligible to contribute up to $25,000. These funds are essential in empowering community-based organizations (CBOs) involved in crucial work related to affordable housing and economic development initiatives.
“The 5-to-1 funding from FHLB Dallas makes such a difference to nonprofit organizations. They can expand their outreach to help even more residents in the Houston area,” said Marcus Vasquez, executive vice president and director of CRA and Community Development at Stellar Bank.
The Community Development Corporation of Freedmens Town received $30,000. This generous award will directly support events focused on financial literacy and access to affordable housing.
The Houston Real Estate Association CDC, also known as HREACDC, received an equally impactful grant of $30,000.
These funds will be instrumental in facilitating homebuyer education seminars and covering operational expenses related to programs designed to educate low- to moderate-income homeowners and potential homeowners in the community.
A grant of $25,000 was awarded to Credit Coalition to further its mission.
These funds will heavily target areas like offsetting operational expenses that directly impact Credit Coalition’s ability to continue its free financial coaching, homebuyer counseling, education, and outreach to residents in Greater Houston and Beaumont.
“The PGP is one of our most popular programs due to the tangible support it provides to community-based organizations,” shared Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “Investing in communities is critical for their success and longevity.”
Supporting Anchors of Houston’s Growth
Stellar Bank Headquarters is located in Houston and it provides a diversified range of commercial banking services. Committed to helping people thrive, Stellar Bank continuously strives to support the growth and financial well-being of its customers and the communities it serves. Sewnior vice president, Greg Hettrick oversees those tasks.
In addition to the support for the Partnership Grant Program, Stellar agreed to provide online banking technology upgrades for.
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## Houston Nonprofits Celebrate Housing and Financial Well-being Grants
**Interviewer:** Welcome to the show, Marcus. Today, we’re talking about the crucial role community development organizations play in Houston, thanks to a recent influx of grant funding. Can you tell us more about this?
**Marcus Vasquez:** Absolutely! Three incredible Houston-based nonprofits have just been awarded a combined $85,000 from the Partnership Grant Program. This program, spearheaded by the Federal Home Loan Bank of Dallas (FHLB Dallas) and Stellar Bank, is making a real difference in our community by supporting affordable housing and financial education initiatives.
**Interviewer:** That’s fantastic news! How exactly does the Partnership Grant Program work, and what makes it so impactful?
**Marcus Vasquez:** The PGP is unique because it offers a 5:1 match of member contributions, meaning every dollar a member contributes is multiplied fivefold by FHLB Dallas. Each member can contribute up to $25,000, offering substantial support to organizations like these. This funding model really empowers us to make a bigger impact [1].
**Interviewer:** That’s clearly a powerful multiplier effect. Can you share any specific examples of how these grants will be used to benefit Houston residents?
**Marcus Vasquez:** While I don’t have details on specific projects just yet, these grants will undoubtedly support programs providing vital resources like housing assistance, financial literacy workshops, and other essential services that help families thrive.
**Interviewer:** It’s heartwarming to see organizations working together to strengthen communities. Thanks for shedding light on this important initiative, Marcus.
**Marcus Vasquez:** My pleasure! I think this program really highlights the commitment of FHLB Dallas and Stellar Bank to making Houston a more equitable and vibrant place for everyone.
