September 29, 2017
BOSTON - The Federal Home Loan Bank of Boston has donated $50,000 to assist the communities in Florida, the Southeast, Puerto Rico, and the U.S. Virgin Islands as they recover from Hurricane Irma. The donation is part of a $1 million disaster relief fund that has been established by the 11 Federal Home Loan Banks throughout the country.
The Federal Home Loan Bank of Atlanta and the Federal Home Loan Bank of New York, whose two districts cover the areas most affected by the storm, are each contributing $275,000 to this relief effort. The other nine Federal Home Loan Banks are each contributing $50,000.
The funds will be distributed to the following nonprofit organizations: All Hands Volunteers, American Red Cross, Americares, Operation USA, Salvation Army, United Way Puerto Rico, and Virgin Islands Community Foundation's Hurricane Relief Fund.
"Rebuilding communities devastated by the hurricane will take significant resources and time. We are proud to partner with the other Federal Home Loan Banks to assist with the recovery efforts," said Edward A. Hjerpe III, president and CEO of the Federal Home Loan Bank of Boston.
Last month, the Federal Home Loan Banks announced a $1 million relief effort in support of communities in Texas and the Gulf Coast that were affected by Hurricane Harvey. The Federal Home Loan Bank of Dallas, whose district includes the states most affected by Hurricane Harvey, donated $500,000 while the other 10 Federal Home Loan Banks each committed $50,000. In addition, FHLB Dallas announced a $1 billion commitment in low-cost loans and launched a $7 million grant program to address the immediate needs of its members and their communities across the Gulf Coast region stricken by the historic storm.