homeowner receives help to recover from hurricane | Your money
NATCHITOCHES, Louisiana – (BUSINESS WIRE) – Sep 16, 2021–
The devastation caused by Hurricane Ida is nothing new to Henry Jones, 68, who is grateful that Ida’s recent fury did not reach him in Clarence, Louisiana, a small village in north-central Louisiana.
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Henry Jones, second from left, with officials from Hancock Whitney, who partnered with FHLB Dallas to fund repairs to his hurricane-damaged home. (Photo: Business Wire)
He wasn’t so lucky last year when Hurricane Laura swept in and caused massive damage to his home, so much so that he had to temporarily evacuate and stay with a relative. But, thanks to disaster recovery funds from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Hancock Whitney, his house was fully repaired.
Mr. Jones received a grant of $ 9,890 earlier this year to fund the repairs. Funding was part of the FHLB Dallas Disaster Reconstruction Assistance Program and was provided by FHLB Dallas member Hancock Whitney.
The grant covered a new roof and the replacement of damaged plasterboard and wood panels. The work was completed this spring.
Mr Jones said he was trying to find a way to fund the repairs and was empty when an employee of Hancock Whitney, who attends his church, told him the Reconstruction Assistance Program in the event disaster might be an option for him.
“I really appreciate it, and thank goodness these funds were available because I don’t know how I would have done the repairs without this help,” Mr. Jones said.
The Disaster Reconstruction Assistance Program provides funds for the repair and rehabilitation of owner-occupied homes affected by a federally declared disaster in the FHLB Dallas Five-State District.
Hancock Whitney was one of many FHLB Dallas members who participated in the program to help residents affected by natural disasters. Several hurricanes in 2020 resulted in a strong demand for financing.
“It feels good to be able to help homeowners who really suffered after several hurricanes hit our communities last year,” said LaCarsha Babers, assistant vice president and community development manager at Hancock Whitney. “We appreciate our partnership with FHLB Dallas to provide these funds.”
In 2021, FHLB Dallas set aside $ 500,000 for disaster recovery assistance. Funds are disbursed through member institutions like Hancock Whitney on a first come, first served basis, one owner at a time.
“Natural disasters have the potential to cause tremendous stress and suffering in affected communities,” said Greg Hettrick, senior vice president and director of community investment at FHLB Dallas. “Partnerships like this with Hancock Whitney are having a positive impact on people like Mr. Jones, who no longer have to worry about costly home repairs.
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied the core values of honor and integrity, strength and stability, commitment to service, teamwork and personal responsibility. Hancock Whitney’s offices and financial centers in Mississippi, Alabama, Florida, Louisiana and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking services; private banking; trust and investment services; health care bank; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of the most financially sound banks in the United States. More information is available at www.hancockwhitney.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 established by Congress in 1932. FHLB Dallas, with total assets of $ 58.6 billion as of June 30, 2021, is a co-operative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
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CONTACT: Corporate communication
Federal Home Loan Bank of Dallas
KEYWORD: UNITED STATES NORTH AMERICA TEXAS LOUISIANA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES PHILANTHROPY OTHER PHILANTHROPY FINANCE CONSTRUCTION & REAL ESTATE BUILDING SYSTEMS BANKING
SOURCE: Federal Home Loan Bank of Dallas
Copyright Business Wire 2021.
PUB: 09/16/2021 2:46 PM / DISC: 09/16/2021 2:46 PM
Copyright Business Wire 2021.