GARLAND, Texas – (BUSINESS WIRE) – July 13, 2021–
A $ 7,000 grant from the Veritex Community Bank and Federal Home Loan Bank of Dallas (FHLB Dallas) Special Needs Assistance Program (SNAP) funded sewer line replacement for elderly couple of Garland, Texas.
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A couple from Garland, Texas were able to replace a damaged sewer line to their home, with funds 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, serious plumbing issues began to surface, to the point that they could not use one of the bathrooms in their house.
The SNAP grant funded repairs to an exterior sewer line. Upon inspection of the pipe, it was discovered that there was significant damage, including multiple ruptures and a disconnection of the town’s main sewer line.
The couple’s daughter, Beverly Melton, heard about SNAP through a family friend.
“I am very grateful to FHLB Dallas and Veritex Community Bank,” said Melton, who cares for her parents. “You couldn’t have chosen someone else who would appreciate it more. We are very grateful to receive the funds.
Through member institutions such as Veritex Community Bank, SNAP provides grants for the repair and rehabilitation of owner-occupied housing to eligible people with special needs. The maximum SNAP premium per household is $ 6,000, unless the member or other lender contributes $ 350 towards rehabilitation costs and / or inspection fees. Then the maximum reward per household is $ 7,000.
“SNAP helps elderly and disabled homeowners like the Wilkersons who need critical repairs but may have a fixed income,” said Melanie Goodman, Community Reinvestment Act manager at Veritex Community Bank. “This program is essential in helping members of our community continue to live independently in their homes. ”
FHLB Dallas has set aside $ 2.5 million of its 2021 Affordable Housing Program funds for SNAP, and all SNAP funds were allocated in January for the much sought-after program. Last year, FHLB Dallas awarded $ 2.5 million in SNAP grants that helped 421 families. Since the inception of the program in 2009, nearly $ 20.5 million in funding has been awarded in the five-state district of FHLB Dallas.
“Our partnership with Veritex Community Bank allows us to give back to the community by helping families in need,” said Greg Hettrick, senior vice president and director of community investment at FHLB Dallas, “We are grateful for their relationship and their continued support of the program. ”
To learn more about SNAP, visit fhlb.com/snap.
About Veritex Community Bank
Veritex Community Bank is a mid-sized community bank serving its customers with a full range of banking products and services. The bank has several conveniently located branches in Houston, Fort Worth and Dallas, Texas, with total assets of over $ 8 billion. The bank, headquartered in Dallas, Texas, specializes in providing deposit and credit services to small and medium-sized businesses, which have been largely overlooked by national banks. The name “Veritex” is derived from the Latin word “veritas”, which means truth, and “Texas”.
About 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 co-operative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
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CONTACT: Corporate communication
Federal Home Loan Bank of Dallas
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: CONSTRUCTION & REAL ESTATE SENIOR FINANCES BANKING PROFESSIONAL SERVICES PHILANTHROPY CONSUMER OTHERS PHILANTHROPY RESIDENTIAL BUILDING & 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
Copyright Business Wire 2021.