Funds Will Be Used to Resolve Heirs’ Property Issues and Support Local Entrepreneurs
NEW ORLEANS–(BUSINESS WIRE)–The Federal Home Loan Bank of Dallas (FHLB Dallas), through its member Hancock Whitney, awarded $75,000 in Heirs’ Property Program grants to Louisiana Appleseed, Desire Community Housing Corporation (Desire Community HC) and Divine Touch Community Development Center (Divine Touch CDC) at a ceremonial check presentation. In addition, as part of FHLB Dallas’ Partnership Grant Program, Coastal Communities Consulting (CCC) was awarded a $30,000 grant.
Heirs’ Property Program
Heirs’ property refers to property inherited without a will or legal documentation of ownership. As property is passed down, each successive generation typically results in more heirs being added to the inheritance. The absence of a deed or will can make it more complicated to obtain a clear title to land or homes as time passes.
The $25,000 grant for Desire Community HC will provide access to homebuyer financial literacy education classes and workshops, as well as affordable legal services.
Deborah Davenport, Certified Housing Counselor with Desire Community HC, noted, “Our focus is directed toward the stability of disenfranchised populations’ ability to maintain their land and property legally.”
The $25,000 grant for Louisiana Appleseed will help the organization hold legal clinics across the state, in partnership with their legal aid service providers.
“Louisiana Appleseed is grateful to be a part of efforts to reduce heirs’ property in Louisiana,” said Executive Director Adrienne Wheeler. “With these grant funds, Louisiana Appleseed’s new online Louisiana Legacy Application will double the output of wills generated by legal aid for low-income and vulnerable communities in our state.”
The $25,000 grant for Divine Touch CDC will be used to host an event that will educate the community about homeownership and wills. Funds will also help educate community members on how to execute a will, file paperwork to transfer a title into someone’s name and pay for legal fees.
“These funds are a much-needed asset to a community that does not typically have the resources they need. Without them, we would not be able to assist as many people as we do,” said Divine CDC Executive Director Eleanor Shaw.
In 2024, FHLB Dallas and 20 participating members awarded $2 million in Heirs’ Property Program funds to 33 organizations across its five-state District. The funding will help clear an estimated 560 titles and assist more than 5,670 people with training and education regarding heirs’ property issues.
Vice President and Community Outreach Officer of Hancock Whitney LaCarsha Babers said, “We are committed to giving families the resources to create generational wealth, as well as helping entrepreneurs fulfill their dreams of owning a business. These funds give members in our community the opportunity to create successful futures.”
Partnership Grant Program
Through the PGP, FHLB Dallas member institutions contribute $500 to $5,000 to a nonprofit, which FHLB Dallas matches at a 5:1 ratio to provide up to $25,000 to the organization per member. The awards help promote and strengthen relationships between community-based nonprofits and FHLB Dallas members.
The $30,000 PGP grant to CCC will be used for supporting its day-to-day small business technical assistance programs and trainings, which offer start-up planning, entity filings, licensing, permits, financial literacy, and more. This ensures that current rural/coastal businesses are sustainable and well equipped with the knowledge and tools to be able to adapt and be more resilient in the face of climate change, environmental shifts and unknown man-made disasters.
Sandy Ha Nguyen, the executive director of CCC, delivered emotional remarks at the check presentation. “It boils down to this,” she said. “We focus on ‘Doing Things That Matter’ to the individuals or groups in front of us seeking our assistance. Every task or service provided often comes with an educational piece to it. The goal is for our clients to leave every session with higher self-confidence after learning something new. Then, they can share with others and ultimately become leaders in their own communities.”
The PGP award was part of $1.2 million in PGP funds FHLB Dallas and participating members awarded in 2024.
“It’s encouraging to see these programs in action in a city as vibrant as New Orleans,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “We hope to be a part of these celebrations for years to come.”
Learn more about the FHLB Dallas Partnership Grant Program and Heirs’ Property Program.
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; and mortgage services. The company also operates combined loan and deposit production offices in the greater metropolitan areas of Nashville, Tennessee and Atlanta, Georgia. More information is available at www.hancockwhitney.com.
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 $129.4 billion as of September 30, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.
Contacts
Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com, (214) 441-8445
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