TBK Bank and FHLB Dallas to Provide Grant Funds to Dallas Nonprofit
DALLAS–(BUSINESS WIRE)–Congresswoman Eddie Bernice Johnson today joined TBK Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) to award $17,000 in Partnership Grant Program (PGP) funds to 2ndSaturday Community Development Corporation (2SCDC) to offset operational costs associated with its 2S Industries program.
“A community is at its best when its members work together to lift one another up,” said U.S. Congresswoman Eddie Bernice Johnson, D-TX. “When entities work together, the effect is even more powerful. I applaud TBK Bank and the Federal Home Loan Bank of Dallas for helping further 2ndSaturday’s important mission.”
The funds came at an opportune time, said 2SCDC Vice President Marcus Toussaint. Now that renovations to the company’s headquarters are nearly complete, thanks in part to a $16,000 PGP award in 2017, 2SCDC is seeing more growth and is ready to help more men who have recently been released from prison and are ready to make positive changes in their lives. According to the American Civil Liberties Union, 75 percent of formerly incarcerated men will reoffend and return to incarceration within three years. Mr. Toussaint said only 10 percent of 2SCDC’s clients return to incarceration.
“A large part of the reason men go back to prison is because there’s no safety net when they get out,” said Mr. Toussaint. “We employ men through community partnerships that provide affordable housing but cannot provide employment for our clients. We provide the missing pieces of that puzzle through employment, which dramatically reduces recidivism.”
While the organization is projected to serve 40 to 50 men this year, 2SCDC is better known for its 2nd Saturday events, for which the organization is named. Established in 2009, the organization started as a monthly service event to mobilize volunteers to help low-income seniors in west and south Dallas. About 250 volunteers contribute their services at up to 12 work sites on the second Saturday of every month, conducting repairs from painting, repairing siding, building ramps and installing grab bars in showers.
TBK Bank Philanthropy and CRA Specialist Brandi Dunn said her institution has supported 2SCDC since its founding.
“TBK Bank is proud to support 2ndSaturday in a variety of ways,” said Ms. Dunn. “We have volunteered at their monthly service projects for many years, make annual donations to the work they are doing in Dallas and we currently enjoy having 2ndSaturday as a banking client, allowing us to help meet their needs in a unique way. Thank you to FHLB Dallas for allowing us to further support the work of 2ndSaturday through the Partnership Grant Program.”
With the PGP, FHLB Dallas member institutions like TBK Bank contribute $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas matches at a 3:1 ratio. This year, FHLB Dallas awarded $300,000 in PGP funds through 25 member institutions to assist 27 CBOs. Combined with FHLB Dallas member contributions, a total of $442,500 has been awarded to the organizations.
“The PGP enables community-based organizations such as 2SCDC to further their mission by harnessing the power of partnerships,” said Melanie Dill, community and economic development product manager at FHLB Dallas. “This wouldn’t be possible without our partnership with TBK Bank.”
Mr. Toussaint said the PGP has a multiplier effect on the community.
“The funds make the community better. Before incarceration, some of these guys sold drugs on these very streets, negatively impacting the neighborhood. Now they’re positively impacting it through the resources we provide them, thanks in part to the PGP,” he said.
To learn more about the PGP, visit fhlb.com/pgp.
About TBK Bank, SSB
TBK Bank, SSB, a subsidiary of Triumph Bancorp, Inc. (Nasdaq: TBK), is a Texas-state savings bank headquartered in Dallas, Texas that offers consumer and commercial banking products from our 61 branches throughout Iowa, Illinois, Colorado, Kansas, New Mexico, and Texas. We also serve a national client base through our Triumph Commercial Finance division, which offers factoring, equipment lending, asset based lending, and premium finance solutions for independent insurance agents. We offer discount factoring through our Advance Business Capital LLC, d/b/a Triumph Business Capital subsidiary and insurance through our Triumph Insurance Group, Inc. subsidiary.
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 $74.5 billion as of June 30, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 810 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.
Federal Home Loan Bank of Dallas