Texas Banks Award $10K to Houston Affordable Housing Nonprofit

BY Business Wire | AGENCY | 09/19/22 07:21 PM EDT

FHLB Dallas and Veritex Community Bank Provide Partnership Grant Program Funds

HOUSTON--(BUSINESS WIRE)-- Veritex Community Bank (Veritex) and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded $10,000 in Partnership Grant Program (PGP) funding to Woman Inc., a Houston nonprofit that creates housing for women leaving abusive or high-risk situations.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220919005865/en/

The funds were presented during a ceremonial check presentation today.

?We are grateful for this funding from Veritex and FHLB Dallas that will assist us in case management to help our clients improve their educational and skill levels to overcome barriers to finding higher-paying jobs,? said Michaelle Wormly, executive director of Woman Inc.

PGP grants help qualified nonprofit organizations fund a variety of operational and administrative activities critical to serving their communities.

?Woman Inc. is making a positive difference in the Houston community and serves as a vital resource for women who are in dire situations,? said Veritex Senior Vice President of Community Development Courtney Taylor. ?It is an honor for us to be able to provide this funding through our partnership with FHLB Dallas.?

In 2022, FHLB Dallas awarded $400,000 in PGP grants, and its members provided an additional $158,985 for an impact of $558,985 in its five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.

?We commend Veritex?s commitment to enriching the Texas communities it serves,? said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. ?Our partnership with Veritex and the matching-grant nature of the PGP has enabled us to further the important work Woman Inc. is doing to help at-risk women.?

See the complete list of the 2022 PGP grant recipients. For more information about the 2022 PGP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp.

About Veritex Bank

Veritex Community Bank is a mid-sized community bank serving its customers with a full suite of banking products and services. The bank has convenient branch locations in Houston, Fort Worth, and Dallas, Texas, with more than $10 billion in total assets. The bank, headquartered in Dallas, specializes in providing depository and credit services to small to mid-size businesses, which have been largely neglected by national banks. The name ?Veritex? is derived from the Latin word ?veritas,? meaning 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 created by Congress in 1932. FHLB Dallas, with total assets of $77.7 billion as of June 30, 2022, serves approximately 800 members and associated institutions across our five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas provides financial products and services including advances (loans to members) and grant programs for affordable housing and economic development. For more information, visit our website at fhlb.com.

Source: Federal Home Loan Bank of Dallas

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.