Arkansas Homeowner Receives $7K to Make Home Repairs | Business

RUSSELLVILLE, Ark .– (BUSINESS WIRE) – Nov. July 2021–

A $ 7,000 SNAP grant from Bank OZK and the Federal Home Loan Bank of Dallas (FHLB Dallas) funded the repair of a water heater and heating and air conditioning system for a homeowner in Russellville, Arkansas.

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A Russellville, Arkansas woman (seen here with her daughter) received $ 7,000 in SNAP funds from Bank OZK and FHLB Dallas to replace the aging water heater and heating and air conditioning systems in her home. (Photo: Business Wire)

The recipient, Carolyn Frady, 67, and her husband have lived in their home for 30 years. The couple’s home, built in the 1960s, suffered from potentially dangerous problems including a rusted water heater and outdated heating and air conditioning.

She found out about SNAP through Universal Housing, a not-for-profit company that provides housing-related services.

“I absolutely love the work you did on my house,” said Mrs. Frady. “Without these repairs, the problems would have gotten much worse and our house would just have collapsed.”

Via member institutes such as the OZK bank, SNAP promotes the repair and renovation of residential property for eligible people with special needs. The maximum SNAP award per household is US $ 6,000 unless the member or other lender contributes US $ 350 towards rehabilitation costs and / or inspection fees. Then the maximum premium per household is $ 7,000.

“We are honored to serve customers like Mrs. Frady and carry out necessary repairs at home,” said Lasha Marshall, Community Development Manager at Bank OZK and Communities. “

FHLB Dallas committed $ 2.5 million of its Affordable Housing Program (AHP) funding to SNAP in 2021, and all SNAP funding was allocated to the coveted program in January. Last year, the FHLB Dallas made $ 2.5 million in SNAP grants that helped 421 families. Since the program was launched in 2009, nearly $ 20.5 million in grants has been made in the five-state district of FHLB Dallas.

“FHLB Dallas is grateful to be working with member banks such as OZK to help families in need of repairs they could not otherwise afford,” said Greg Hettrick, first vice president and director of community investment for FHLB Dallas.

To learn more about SNAP, visit fhlb.com/snap.

About the bank OZK

Bank OZK (Nasdaq: OZK) is a regional bank that provides innovative financial solutions from seasoned bankers with a relentless pursuit of excellence. Bank OZK was founded in 1903 and has banking operations through 250 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California and Mississippi with total assets of 27.28 billion as of March 31, 2021 For US dollars, visit www.ozk.com and on Facebook, Twitter, and LinkedIn, or contact (501) 978-2265 or PO Box 8811, Little Rock, Arkansas 72231-8811.

Via the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system, which was founded by Congress in 1932. FHLB Dallas, with total assets of $ 61.1 billion as of March 31, 2021, is a member-owned cooperative that supports housing and community development by providing credit and other credit products at competitive prices to approximately 800 members and affiliates Institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, please visit our website at fhlb.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006165/en/

CONTACT: Corporate Communications

Federal Home Loan Bank of Dallas

fhlb.com

(214) 441-8445

KEYWORD: UNITED STATES NORTH AMERICA ARKANSAS

INDUSTRY KEYWORD: PROFESSIONAL SERVICES PHILANTHROPY OTHER PHILANTHROPY FINANCE FOUNDATION BANKING

SOURCE: Federal Home Loan Bank of Dallas

Copyright Business Wire 2021.

PUB: 07/20/2021 3:52 p.m. / DISC: 07/20/2021 3:52 p.m.

http://www.businesswire.com/news/home/20210720006165/en

Copyright Business Wire 2021.

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