FHLBank San Francisco Awards $1 Million in Grants for Financial Growth, Pandemic Restoration in California

The funding will support 40 nonprofit organizations

SAN FRANCISCO, Oct. 19, 2021 (GLOBE NEWSWIRE) – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has awarded $ 1 million in grants to 40 California nonprofits as part of its AHEAD 2021 program. The grants, which are made available through FHLBank San Francisco’s local financial institutions, are designed to drive innovative business 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 grant recipients support a variety of priority beneficiaries, including budding homebuyers; People affected by homelessness; Small business owned by minorities and women; Tribal organizations; and training programs for workers in a variety of sectors including childcare, construction and healthcare.

“Communities across California 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 more important, and we are proud to be able to offer this support. “

This year, 269 applications from California nonprofits were reviewed and over 32 participating local lender members awarded grants of $ 25,000 each to 40 successful applicants.

“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.”

The story goes on

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

• North Coast Opportunities (funded 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 .

• LINC Housing Corporation (sponsored by City National Bank), 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 (sponsored by First Republic Bank), an organization that offers various professional training and placement programs in Contra Costa County, California, 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.

• 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 $ 20 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