September 06, 2017
BOSTON - The Federal Home Loan Bank of Boston has donated $50,000 to assist the communities affected by Hurricane Harvey. The donation is part of a disaster relief fund that has been established by the 11 Federal Home Loan Banks throughout the country.
In total, the Federal Home Loan Banks have committed $1 million for immediate disaster relief efforts. The Federal Home Loan Bank of Dallas has donated $500,000, while the other 10 Federal Home Loan Banks have each committed $50,000. In addition, FHLB Dallas is making available more than $6.7 million through three grant programs for Hurricane Harvey recovery efforts, and will make available $1 billion in low-cost Special Disaster Relief Program advances for members to support their customers in communities affected by the floods.
The disaster relief fund will be distributed to the following organizations: American Red Cross, Americares, Direct Relief, United Way of Greater Houston, Houston Food Bank, Food Bank of Corpus Christi, and Coastal Bend Community Foundation.
The Federal Home Loan Bank of Boston's Charitable Contributions Committee has also created an opportunity for employees to receive matching donations to organizations with dedicated hurricane relief funds.
"As an organization deeply committed to meeting the housing and economic development needs of our communities, it is imperative that we assist with this critical recovery effort. We hope this donation, in addition to all the other outpouring of support among Bank employees, will help alleviate some of the suffering we've witnessed and help communities along the Gulf Coast rebuild," said Edward A. Hjerpe III, president and CEO of the Federal Home Loan Bank of Boston.