FHLB Dallas, Cadence Bank & Citizens National Award $9K Grant to Hattiesburg Housing Nonprofit
Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas), Cadence Bank, and Citizens National Bank (Citizens) gathered today in Hattiesburg, Mississippi, for a ceremonial check presentation, marking the awarding of $9,000 in Partnership Grant Program (PGP) funds to Housing Economic Resources & Education (HERE). The funds will be used to support various initiatives, including homeownership education, outreach efforts, and the procurement of necessary supplies. Additionally, the funding will facilitate the hiring of a consultant to assist HERE in applying for and meeting the requirements to become a U.S. Department of Housing and Urban Development (HUD)-certified counseling agency. Furthermore, the grant will enable HERE to provide individualized counseling sessions for prospective homebuyers.
The Partnership Grant Program (PGP) is designed to provide financial support to community-based organizations working to enhance housing stability and financial literacy. Through this program, FHLB Dallas member institutions contribute between $500 and $5,000 to eligible nonprofits, and FHLB Dallas matches these contributions at a 5:1 ratio, offering up to $25,000 per member. These grants help strengthen relationships between financial institutions and nonprofit organizations dedicated to housing and economic development.
HERE, a nonprofit organization focused on homeownership education, provides essential guidance and support to individuals navigating the homebuying process, particularly those with moderate to low incomes and nontraditional credit backgrounds. By offering tailored educational programs and one-on-one counseling, HERE equips individuals with the knowledge and resources needed to achieve homeownership and maintain financial stability.
“I am delighted for this partnership opportunity,” said Lakeylah White, Executive Director of HERE. “The Federal Home Loan Bank of Dallas has created a platform for our nonprofit and others to establish lasting connections with banking institutions. These partnerships are invaluable, allowing us to share crucial resources and insights to support each other.”
The importance of financial education and housing support cannot be overstated, particularly for first-time homebuyers and those in underserved communities. By providing critical education on homeownership responsibilities, credit management, and mortgage processes, organizations like HERE help individuals make informed decisions that contribute to long-term financial security. In many cases, a lack of financial knowledge serves as a significant barrier to homeownership, making programs like the PGP essential in bridging the gap.
Tyeisha Smith, Community Development Officer at Citizens National Bank, emphasized the significance of homeownership education in fostering community growth. “Property education is critical for homeownership, especially in underserved communities. Citizens National Bank is proud to partner with FHLB Dallas and Cadence Bank to support HERE’s efforts in homeownership education and counseling, helping families build a stronger financial future in Hattiesburg,” she stated.
With the support of financial institutions like Citizens National Bank and Cadence Bank, HERE can expand its outreach and provide critical services to individuals seeking to achieve homeownership. These partnerships reflect a shared commitment to community development and economic empowerment, ensuring that more individuals have access to the tools and knowledge necessary to become successful homeowners.
“Cadence Bank’s vision is to help people, companies, and communities prosper. We cannot think of a better way to accomplish this than by working with HERE and FHLB Dallas,” said John Griffith, president of the Pine Belt Division of Cadence Bank. “By supporting free homebuyer seminars, we are helping more people get on the path to homeownership.”
The impact of such initiatives extends beyond individual homeowners; it contributes to the economic and social vitality of communities. Stable housing leads to stronger neighborhoods, improved financial well-being, and increased opportunities for economic mobility. Homeownership fosters a sense of community pride and investment, leading to better-maintained properties and stronger local economies.
Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas, echoed this sentiment, highlighting the role of financial institutions in supporting community-driven initiatives. “Both Citizens Bank and Cadence Bank have been true partners in community development, and we are excited to continue our partnership through the PGP grant to HERE,” he said. “Through this collaboration, we are making meaningful strides in expanding homeownership opportunities and promoting financial literacy.”
Beyond financial support, the collaboration between FHLB Dallas, Cadence Bank, and Citizens National Bank underscores the importance of strategic partnerships in addressing housing affordability challenges. By leveraging the resources and expertise of multiple stakeholders, initiatives like the PGP create sustainable pathways to homeownership for individuals and families who may otherwise face significant barriers.
For many aspiring homeowners, navigating the complexities of mortgage applications, credit requirements, and down payment assistance programs can be daunting. Organizations like HERE play a crucial role in demystifying these processes and providing step-by-step guidance to individuals eager to achieve homeownership. By ensuring that individuals are well-prepared for homeownership, HERE reduces the risk of loan defaults and financial instability, ultimately contributing to the long-term economic health of the community.
As housing costs continue to rise across the country, access to affordable homeownership education becomes even more critical. Programs like the PGP help bridge the gap by providing much-needed financial resources to organizations that specialize in housing education and counseling. By investing in these programs, financial institutions and community organizations collectively work toward a more inclusive and equitable housing market.
