Charles Schwab Bank and FHLB Dallas Award $16K to Fort Worth Nonprofit

BY Business Wire | AGENCY | 10/06/22 06:27 PM EDT

Housing Opportunities of Fort Worth Receives Partnership Grant Program Funds

FORT WORTH, Texas--(BUSINESS WIRE)-- Charles Schwab Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded $16,000 in Partnership Grant Program (PGP) funds to Housing Opportunities of Fort Worth (HOFW) Inc.

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The award was recently celebrated during a ceremonial check presentation at HOFW?s offices. HOFW helps low-to moderate-income families access and maintain affordable homeownership. The organization works with clients one-on-one to provide homebuyer education and loan counseling.

?These funds make all the difference in what we do and how we serve our community,? said David O?Brien, executive director of HOFW. ?We are passionate about our work because everyone deserves a chance to afford and be proud of the roof over their heads.?

Through this unique program, FHLB Dallas member institutions contribute $500 to $4,000 to a community-based organization (CBO), a 501(c)(3) nonprofit, which FHLB Dallas matches at a 3:1 ratio to provide a match of up to $12,000 per member. PGP grants are awarded annually through FHLB Dallas? member institutions. The awards help promote and strengthen relationships between CBOs and FHLB Dallas members.

?Housing Opportunities of Fort Worth is making a huge difference for local homebuyers because they provide vital services to the community,? said Andrea Glispie, senior manager of community development with Charles Schwab Bank. ?We are pleased to provide this funding to them 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 thank Charles Schwab Bank for its commitment to improving lives in the communities it serves,? said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. ?Our partnership and the matching-grant nature of the PGP has enabled us to further the important work HOFW is doing to help people.?

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 Charles Schwab

Charles Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. We believe diversity and inclusion are part of our success as a company and our purpose of serving every client with passion and integrity. The Charles Schwab Corporation provides a full range of brokerage, banking and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (Member SIPC), offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides deposit and lending services and products.

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

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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.

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