Austin Bank, Texas N.A. and FHLB Dallas Award $8K to Lufkin Nonprofit

BY Business Wire | AGENCY | 10/17/22 11:36 AM EDT

Legacy Institute for Financial Education (LIFE) Receives Partnership Grant Program Funds

LUFKIN, Texas--(BUSINESS WIRE)-- Austin Bank, Texas N.A. (Austin Bank) and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded $8,000 in Partnership Grant Program (PGP) funds to the Legacy Institute for Financial Education (LIFE).

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The award, which includes a 3:1 match of funds from FHLB Dallas, was celebrated today during a ceremonial check presentation at LIFE?s office in Lufkin, Texas. LIFE provides resources and services to create economic stability and generational wealth through financial literacy.

?We?re honored to receive this funding from Austin Bank and FHLB Dallas,? said Joseph J. Ceasar, founder and executive director of LIFE.

Grant proceeds will go toward employment training programs, financial literacy and its Next Chapter program, which assists residents who have transportation challenges with gas cards, bus passes and bicycles, he said.

?We are thankful for our relationship with FHLB Dallas and the resulting matching award for several of LIFE?s employment and financial literacy programs,? said Debbie Braune, senior vice president, risk management and CRA officer of Austin Bank.

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.

?The matching-grant nature of the PGP makes for a great partnership with our members, including Austin Bank, to help advance the grassroots work of community-based organizations,? said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.

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 Austin Bank, Texas N.A.

Austin Bank, a community bank headquartered in Jacksonville, Texas, has been voted one of the ?Best Companies to Work for in Texas? for the fourteenth consecutive year. With assets in excess of $2.7 billion, bank offices are located in 36 East Texas locations within 26 cities and 14 counties. Austin Bank is locally owned and operated by the Austin family who is celebrating 113 years of service in the Texas banking industry. For more information about Austin Bank, visit the bank?s website at www.austinbank.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 $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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