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Latest DATCU Credit Union News
Aug 31, 2016
Thumbnail August 30, 2016 07:17 PM Eastern Daylight Time DENTON, Texas--( BUSINESS WIRE )--Serve Denton today received a $17,000 Partnership Grant Program (PGP) award from DATCU Credit Union (DATCU) and the Federal Home Loan Bank of Dallas (FHLB Dallas). Denton Mayor Chris Watts and DATCU CEO Dale Kimble were joined by representatives of FHLB Dallas and Serve Denton for the ceremonial award, given at Serve Denton’s Wheeler House location. This year’s grant, which will be used for operational expenses, follows a similar $17,000 PGP grant in 2015 from the same institutions. The 2015 award helped Serve Denton open its Assistance and Events Center last fall. “Serve Denton is a wonderful organization that does tremendous work for the Denton community,” Mayor Watts said. “This grant will benefit many people here in Denton who are in need of social services.” DATCU’s Mr. Kimble also acknowledged Serve Denton’s contributions to the community. “We applaud the wonderful work being done by Serve Denton as they collaborate with area nonprofits to make people’s lives better,” he said. “It is an honor to be a partner of the Federal Home Loan Bank of Dallas because, like credit unions, they believe in strong communities and are committed to supporting positive changes in our own backyard.” Serve Denton, a 501(c)(3) nonprofit, brings together 15 nonprofit organizations at two locations in Denton: the Assistance and Events Center and The Wheeler House. By leveraging these economies of scale, Serve Denton is able to provide each nonprofit with furnished office and meeting space for $100 a month. The savings allows the organizations to put more of the donations they receive toward serving the community. “Serve Denton is humbled, honored, and very grateful to receive this generous grant from the Federal Home Loan Bank of Dallas and DATCU Credit Union,” said Serve Denton Executive Director Pat Smith. “These funds will allow us to do what we do best — being a force multiplier for our tenants and community partners using our talents and abilities and serving as a catalyst for capacity-building.” Through the PGP, member institutions contribute $500 up to $4,000 to a community-based organization (CBO). FHLB Dallas matches the contributions at a 3:1 ratio, which provide up to $12,000 in grant money to a CBO. In 2016, FHLB Dallas awarded $225,000 in PGP funds to assist 23 CBOs. Combined with the $96,200 from member institutions, a total of $321,200 was awarded this year. “DATCU and Serve Denton demonstrate the exemplary possibilities of community partnerships,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “We value this opportunity to serve Denton by multiplying DATCU’s contribution for the benefit of those in need.” PGP grants are offered annually through FHLB Dallas’ member institutions via a lottery system. Funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services. About DATCU DATCU Credit Union, founded in 1936, is a full-service, member owned, not-for profit financial institution. With a long-standing tradition of exemplary service, they currently serve almost 87,000 members. Membership is open to anyone living or working in Denton, Cooke, Wise, Montague, or Clay Counties. All are invited to take advantage of the products and services the credit union offers. These include checking, savings, credit cards, multiple loan products, investment products, and insurance. To learn more about DATCU Credit Union, visit www.datcu.org . About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $54.4 billion as of June 30, 2016, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Visit fhlb.com for more information. Contacts Federal Home Loan Bank of Dallas Corporate Communications, 214-441-8445 www.fhlb.com Release Summary DATCU Credit Union and FHLB Dallas awarded a $17,000 grant to Serve Denton, August 30, 2016. The funds will be used to reduce overhead expenses for Serve Denton's partner service agencies. Contacts Federal Home Loan Bank of Dallas Corporate Communications, 214-441-8445
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