VICTORIA, Texas, Aug. 25, 2011 (GLOBE NEWSWIRE) -- Patience paid off for Victoria, Texas-resident, Maria Saldana after she first applied for a Special Needs Assistance Program (SNAP) grant available through the Federal Home Loan Bank of Dallas (FHLB Dallas) and First Victoria National Bank.
Mrs. Saldana, who is 73 years old and in a wheelchair, first approached the City of Victoria for emergency home repair assistance in late 2010. Mrs. Saldana and her husband, Eliofredo, desperately needed to repair their roof. It was leaking and had damaged the sheetrock and ceilings of their home.
Darlah Sims, community development coordinator for the City of Victoria, told Mrs. Saldana about the SNAP program, but said that unfortunately the funds had been depleted for the year and she would notify Mrs. Saldana when more funding became available. In 2011, Ms. Sims called Mrs. Saldana with good news, and was able to qualify her for a $6,050 SNAP grant to repair the leaking roof, and the damaged sheetrock and ceilings.
SNAP grants are made available through FHLB Dallas member institutions, such as First Victoria National Bank, to assist income-qualified, special needs homeowners with necessary home repairs and modifications. In 2011, FHLB Dallas made $2.1 million in SNAP funding available to its members. Each SNAP recipient is eligible to receive up to $5,000. If the participating member financial institution contributes at least $350 toward costs associated with the rehabilitation, the homeowner is eligible to receive up to $7,000 from FHLB Dallas.
"It is just wonderful," said Mrs. Saldana about the home repairs. "We have lived in our home for 35 years, and have raised our children and grandchildren in this home. I couldn't imagine moving, but I also couldn't imagine affording the repairs on our very limited income."
Liz Freyer, senior vice president at First Victoria National Bank, works with Ms. Sims and the City of Victoria to distribute SNAP funding. First Victoria National Bank has utilized SNAP since the program's inception in 2009, and has awarded $126,000 in SNAP grants in 2011.
"It's just amazing to see all of the work that can be done with each grant," said Ms. Freyer. "The Saldanas' new roof will improve every aspect of their home, inside and out. First Victoria National Bank is very proud to participate in the program, and we greatly appreciate our partnership with the City of Victoria and FHLB Dallas that makes this program a success from beginning to end."
The Saldanas received the grant funds in May 2011, and the work has been completed. Mrs. Saldana said she is very pleased with the craftsmanship, and how quickly the job was finished.
"I would recommend this program to anyone. We are very grateful," she said.
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 $31.4 billion as of June 30, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
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