FHLBank San Francisco Awards $1.5 Million in Grants for Financial Growth, Pandemic Restoration

Funding supports 60 nonprofits in Arizona, California, Nevada

SAN FRANCISCO, Oct. 19, 2021 (GLOBE NEWSWIRE) – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has awarded $ 1.5 million in grants to 60 nonprofits as part of its AHEAD 2021 program. The grants, which are made available through FHLBank San Francisco’s member financial institutions in Arizona, California and Nevada, are designed to advance innovative economic and community development initiatives that provide greater opportunities for underserved populations.

Through the AHEAD program, the members of the bank promote local programs and projects that address urgent needs. The fellows support a variety of priority beneficiaries including budding homebuyers, homeless people, minority and women owned small businesses, tribal organizations and training programs for workers in a variety of sectors including childcare, construction and healthcare.

“Churches across the country have faced an onslaught of challenges in the past 18 months, many of which will have long-term economic implications,” said Teresa Bazemore, President and CEO of FHLBank San Francisco. “Our AHEAD program was launched in 2004 to provide valuable resources to help our communities address such challenges. The need for innovative initiatives and services has never been so important, and we are proud to be able to offer this support. “

This year, 309 applications for AHEAD funding totaling $ 1.5 million were considered, and 60 successful applicants were awarded grants of $ 25,000 each through 47 participating local lenders.

“From job creation to employee training, from helping small businesses to providing resources to underserved populations, this year’s grant recipients exemplify the intent of the AHEAD program,” said Marietta Núñez, senior vice president and community investment officer at the FHLBank San Francisco. “The winners stand for innovative, targeted initiatives that create economic opportunities by expanding proven development models or trying out new interventions.”

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Selecting the winners of the 2021 AHEAD program valued at $ 25,000:

• North Coast Opportunities (sponsored by Community First Credit Union)who helps provide a variety of support services to empower individuals and low-income families in north-central California. The Building Homes, Building Lives in Lake County project provides construction and soft job skills training, as well as living wages, safety equipment and tools for those in the Rapid Rehousing program who have all been previously homeless or at risk .

• Red Feather Development (funded by Clearinghouse CDFI), who works with the Navajo Nation and the Hopi Tribe of Arizona to provide sustainable housing solutions in their respective tribal communities. The AHEAD grant will help fund the Native Home Resource Network – COVID Resilience and Recovery program staff and related public outreach travel across the region.

• Linc Housing Corporation (Sponsored by Arizona Central Credit Union)who have been renovating and maintaining sustainable, affordable homes for seniors, families, and people with special needs across California. The grant is used to finance kitchen appliances, including lighting fixtures, sprinkler systems and a hood system in the commercial kitchen.

• Opportunity Junction (funded by City National Bank), an organization in Contra Costa County, California, offers a variety of professional training and placement programs to help residents overcome barriers to employment and career advancement. The grant will help the organization maintain adequate staffing levels by supporting the salaries of the Certified Nursing Assistant Instructor and Professional Development Instructor.

• Nevada Partners Inc. (sponsored by Toyota Financial Savings Bank)who provides education, human resource development, financial education, and housing programs and services to low- and middle-income children, families, and others in West Las Vegas. The grant will help provide operational support and allow the organization to hire additional staff focused on professional development as well as the cost of paid work experience or professional training for the participants.

• Housing and Business Law Attorneys (sponsored by East West Bank), a legal services and advocacy organization that addresses a variety of financial wellness and housing issues that exacerbate inequalities in California’s low and middle income communities, including student loans and medical debt, credit building, and fair access to financial resources and housing. The scholarship supports lawyers who offer workshops and individual consultations.

A full list of this year’s AHEAD scholarship holders and more information about the program can be found at fhlbsf.com.

Since 2004, the bank has awarded $ 90 million in AHEAD program grants to support over 660 community projects and programs in Arizona, California and Nevada.

Via the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-operated cooperative that helps local lenders in Arizona, California, and Nevada empower communities, create opportunities, and change lives for the better. The tools and resources we make available to our member financial institutions – commercial banks, credit unions, industrial credit companies, savings institutions, insurance companies, and community development financial institutions – promote home ownership, expand access to quality housing, and promote economic development. Together with our members and other partners, we make the communities we serve more alive, fairer and more resilient.

CONTACT: Media contact: Mary Long, longm@fhlbsf.com, (415) 572-6717