Comerica Bank and FHLB Dallas Award $20K to Organization That Supports
Minority Entrepreneurs and Students
HOUSTON, Nov. 14, 2013 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of
Dallas (FHLB Dallas) and Comerica Bank are pleased to announce they have
awarded $20,000 in Partnership Grant Program (PGP) funds to the Houston
Citizens Chamber Foundation.
The Houston Citizens Chamber Foundation was established to provide support
toward advancing, educating, equipping, and empowering minority business
entrepreneurs, professionals, and students. This 37-year-old nonprofit has
partnered with local businesses and higher education institutions to assist
minority entrepreneurs in generating and facilitating growth for their
businesses by providing technical assistance services.
Comerica Bank and FHLB Dallas held a check presentation today at the Houston
Citizens Chamber Foundation offices to announce the grant.
"Comerica Bank is pleased to strengthen our community outreach and investment
efforts by participating in the Federal Home Loan Bank of Dallas' Partnership
Grant Program," said J. Downey Bridgwater, Comerica's Houston market
president. "Supporting nonprofits like the Houston Citizens Chamber Foundation
that help educate and train local entrepreneurs is a worthwhile investment in
our community and local economy."
Through the PGP, FHLB Dallas awards partnership grants through its member
institutions, like Comerica Bank, to provide funding for the operational needs
of community-based organizations involved in affordable housing and community
development. FHLB Dallas matches a member's cash contribution to a
community-based organization of $500 up to $5,000 at a 3:1 ratio. Through its
member institutions, FHLB Dallas awarded $225,000 in partnership grants in
"FHLB Dallas is excited to partner with Comerica Bank in awarding a
partnership grant to an organization that is so entrenched in the community,"
said Bre Chapman, senior vice president and director of corporate
communication and external affairs at FHLB Dallas. "By leveraging the PGP
funds, Comerica Bank is able to increase the overall grant to the Citizens
Chamber Foundation. It's a win-win for everyone involved."
"The Houston Citizens Chamber Foundation will use the PGP funds for
organization capacity building," said Eric Lyons, president of the Houston
Citizens Chamber Foundation.
"Part of the funds will be used to offset the underwriting of the payment for
interns from local colleges and universities to augment our staffing and, at
the same time, provide the students with real-time experience in supporting
our projects and programs," Mr. Lyons said. "We're also using part of the
funds for general operating expenses for the foundation itself."
Mr. Lyons learned of the PGP through one of the organization's banking
partners at Comerica Bank.
"They've been a longtime supporter of the foundation, the chamber, and our
educational endeavors, and the partnership grant has allowed us to fund
support of college students, as well as expand the breadth of the foundation's
operations and programs."
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the
FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of
$31.3 billion as of September 30, 2013, is a member-owned cooperative that
supports housing and community development by providing competitively priced
loans and other credit products to approximately 900 members and associated
institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For
more information, visit the FHLB Dallas website at fhlb.com.
About Comerica Bank
Comerica Incorporated (NYSE:CMA) is a financial services company headquartered
in Dallas, Texas, and strategically aligned by three business segments: The
Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on
relationships, and helping people and businesses be successful. In addition to
Texas, Comerica Bank locations can be found in Arizona, California, Florida
and Michigan, with select businesses operating in several other states, as
well as in Canada and Mexico. To find Comerica Bank on Facebook, please visit
www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares
and follow Comerica Chief Economist Robert Dye on Twitter at @Comerica_Econ.
CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
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