Western Carolina Rescue Ministries will build a new facility that doubles their existing capacity to house homeless men and women. First at Blue Ridge plans to renovate the former Watauga Lodge in Ridgecrest to house up to 60 women and 20 children. Hendersonville County Habitat for Humanity will build 24 homes for low income families.
Dana Stonestreet, president of HomeTrust Bank said, “We are fortunate to help these great nonprofit organizations further their missions. We have a long history of providing funding for worthwhile projects. With help from Federal Home Loan Bank of Atlanta over the past 10 years, local non profits and families received more than $3.3 million in grants and first-time home buyer assistance funds.”
Each year the Federal Home Loan Bank allocates 10 percent of its earnings back to the communities it serves; this grant money is awarded specifically for developing affordable housing. FHLB only reviews grant applications that are sponsored by a member bank – HomeTrust is a member bank. HomeTrust employees alerted the funded non profits to the grant possibilities, and in effect endorsed their applications.
Joseph Martinez, executive director of First at Blue Ridge, explained HomeTrust’s role in the grant process. “HomeTrust Bank told us about this grant money, and they sponsored us. We’ve been working with them for a couple of years now, and they are true partners. We receive no state funding, and we’re getting more buy in and support from this community bank than from the state of NC. You don’t see this kind of partnering often.”
About HomeTrust Bank
HomeTrust Bank is an FDIC-insured, mutually owned bank with an 82-year history of serving families and businesses in Western North Carolina. HomeTrust Bank (www.hometrustbanking.com ) along with Tryon Federal Bank, Shelby Savings Bank, Home Savings Bank and Rutherford County Bank, comprise the HomeTrust Banking Partnership. HomeTrust Banking Partnership has assets of over $1.4 billion and is the largest mutual bank headquartered in North Carolina and the 2nd largest in the Southeast.
