Business Wire 10-Aug-2018 6:48 PM
Partnership Grant Program Funds to Be Used for Educational Services
There are more than 19,000 adults in the Richardson community who speak little to no English. This can be an incredible barrier to those who are seeking living wage work opportunities along with small businesses looking for competent employees. The Richardson Adult Literacy Center (RALC) received a $16,000 Partnership Grant Program (PGP) award from LegacyTexas Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) to support English as a Second Language (ESL) classes for adults.
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LegacyTexas Bank and the Federal Home Loan Bank of Dallas awarded $16,000 in Partnership Grant Program funds to Richardson Adult Literacy Center to support English as a Second Language classes for adults. (Photo: Business Wire)
Members from both financial institutions and representatives from the nonprofit came together to celebrate the award at a check presentation this week. Richardson Mayor Paul Voelker, Mayor Pro Tempore Mark Solomon, council members Mabel Simpson and Scott Dunn, and Erin Hansen, academy liaison and field coordinator from the office of Congressman Pete Sessions (TX-32) were also in attendance.
RALC is a community-based organization (CBO) that provides ESL instruction to adults who live or work in Richardson. The grant will support costs for the ESL for Adults program that helps adult students improve their English to become workforce-ready, enhance job skills, obtain U.S. citizenship and fully engage in the community.
"Richardson is very thankful for this show of support from the Federal Home Loan Bank of Dallas and LegacyTexas Bank," said Mayor Voelker. "The Richardson Adult Literacy Center serves an important mission in our area that is only possible through partnerships, and this grant shows a tremendous commitment to its continued success in our community."
Katie Patterson, RALC's executive director, says the organization was first introduced to FHLB Dallas in 2015.
"RALC has a longtime relationship with LegacyTexas," Ms. Patterson said. "This institution made us aware of the Federal Home Loan Bank of Dallas and its amazing opportunities."
Through this unique grant program, FHLB Dallas member institutions contribute $500 up to $4,000 to a CBO, which FHLB Dallas matches at a 3:1 ratio to provide the CBO up to $12,000 in grant money. In 2018, FHLB Dallas has awarded $300,000 in PGP funds through 31 member institutions to assist 32 community-based organizations. Combined with the $114,010 contributed by FHLB Dallas members, a total of $414,010 has been awarded to the organizations.
"Our bank fully supports the mission of the Richardson Adult Literacy Center," said Mary Bedosky, vice president and banking center manager at LegacyTexas Bank. "We greatly appreciate the support from FHLB Dallas for partnering with us on this grant. This has been a fantastic opportunity to help serve our community."
This is the second PGP award LegacyTexas Bank and FHLB Dallas have awarded to RALC. The first PGP award – awarded in 2015 – also supported the nonprofit's ESL for Adults program.
"We were incredibly excited when we learned that RALC would be receiving a PGP award for the second time," Ms. Patterson said. "This grant is invaluable as it supports key programmatic elements of the ESL for Adults program."
Denise Schmitt, Community Investment operations manager at FHLB Dallas, said the PGP is designed to strengthen members' ties to the community.
"Community investment through the PGP and our other community investment programs is a cornerstone of FHLB Dallas' mission," Ms. Schmitt said. "Member institutions and their communities benefit from the PGP because it celebrates partnership between members and their communities, as well as between FHLB Dallas and our members."
Ms. Patterson said the PGP funds help turn RALC's students' hopes into reality.
"It is a huge honor to receive a grant of this size," Ms. Patterson said. "Now, we are able to help our adult students become more included and efficient in the community."
About LegacyTexas Bank
LegacyTexas Financial Group, Inc. (NASDAQ:LTXB), is the holding company for LegacyTexas Bank, a commercially oriented community bank based in Plano, Texas. LegacyTexas operates 43 banking offices in the DFW Metroplex and surrounding counties. For more information, visit LegacyTexas.com.
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 created by Congress in 1932. FHLB Dallas, with total assets of $75.9 billion as of June 30, 2018, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.
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