Comerica Bank and FHLB Dallas Award $17K Grant to Women's Empowerment Organization
Business Wire 12-Aug-2019 11:46 AM
Partnership Grant Program Funds to Offset Operational Costs
Comerica Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) presented $17,000 in Partnership Grant Program (PGP) funds to PowHer Play Inc., which empowers women through motivational conferences, scholarships and grants. Representatives from the banks joined the organization at a check presentation on Friday in Houston.
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From L-R: Shantera L. Chatman, Founder and Executive Director of The Chatman Women's Foundation; Vanessa Reed, Assistant Vice President of Community Reinvestment at Comerica Bank – South Texas; Bruce Hatton, Vice President and Affordable Housing Manager at FHLB Dallas; Pamela Lovett, Senior Vice President and Director of Business Development and Community Affairs at Comerica Bank; and Irvin Ashford Jr., Senior Vice President of Public Affairs at Comerica Bank. (Photo: Business Wire)
Founder and Executive Director of The Chatman Women's Foundation Shantera L. Chatman said the funds will go directly to scholarships and offset operational costs pertaining to the organization's events, scholarships and programs.
"When you take care of a woman, you are serving the entire community by helping not only her but also her kids and encouraging them to give back," said Ms. Chatman. "We are extremely grateful for the funds and partnership with Comerica and FHLB Dallas that gives us the opportunity to give back to the Houston community."
Ms. Chatman discovered the PGP grant through Comerica Bank, with whom she has been in partnership for more than five years. Since 2015, PowHer Play, Inc. has received four PGP awards, making this the organization's fifth award.
"The opportunity to support PowHer Play is an example of our commitment to raise expectations in the communities in which we live and work," said Vanessa Reed, Comerica Bank's Texas market external affairs manager. "The continued partnership with FHLB Dallas allows us to help our community partners further their mission."
With the PGP, FHLB Dallas member institutions like Comerica Bank contribute $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas matches at a 3:1 ratio. This year, FHLB Dallas awarded $300,000 in PGP funds through 25 member institutions to assist 27 CBOs. Combined with FHLB Dallas member contributions, a total of $442,500 has been awarded to the organizations.
"The PGP funds enable Comerica to support its community by helping PowHer Play to continue its operations, providing valuable resources to women in the Houston community," said Bruce Hatton, vice president and Affordable Housing Program manager at FHLB Dallas.
About Comerica Incorporated
Comerica Incorporated (NYSE:CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. Comerica's approximately 7,700 colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $73 billion at June 30, 2019.
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 $74.5 billion as of June 30, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 820 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.
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