FHLBank San Francisco Awards $1.5 Million in Grants for Economic Development, Pandemic Recovery

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Funding Will Support 60 Nonprofits Across Arizona, California, Nevada

SAN FRANCISCO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) awarded $1.5 million in grants to 60 nonprofits through its 2021 AHEAD Program. The grants, delivered through FHLBank San Francisco member financial institutions in Arizona, California, and Nevada, are aimed at advancing innovative economic and community development initiatives that bring greater opportunity to underserved populations.

Through the AHEAD Program, Bank members boost local programs and projects targeting pressing needs. The grant recipients support various priority beneficiaries, including aspiring homebuyers, people experiencing homelessness, minority- and women-owned small businesses, Tribal organizations, and workforce training programs in a variety of sectors, including childcare, construction, and healthcare.

“Communities nationwide have faced an onslaught of challenges over the past 18 months, many of which will have long-term economic impacts,” said Teresa Bazemore, president and CEO of FHLBank San Francisco. “Our AHEAD Program was established in 2004 to provide valuable resources to help our communities solve for such challenges. Never has the need for innovative initiatives and services been more crucial, and we’re proud to provide this support.”

This year, 309 applications were considered for a total of $1.5 million in AHEAD funding, and grants of $25,000 each were delivered to 60 winning applicants through 47 participating local lender members.

“From creating jobs to workforce training, from supporting small businesses to providing resources for underserved populations, this year’s grantees exemplify the intent of the AHEAD Program,” said Marietta Núñez, senior vice president and community investment officer at FHLBank San Francisco. “The awardees represent innovative, targeted initiatives that will create economic opportunity by expanding proven development models or piloting new interventions.”

Sampling of 2021 AHEAD Program $25,000 Grant Winners:

  • North Coast Opportunities (Sponsored by Community First Credit Union), which helps provide various support services to strengthen low-income individuals and families in north central California. The Building Homes, Building Lives in Lake County project provides construction and soft job skills training as well as a living wage, safety gear and tools to those in the rapid rehousing program, all of whom are formerly or at risk of being homeless.

  • Red Feather Development (Sponsored by Clearinghouse CDFI), which partners with the Navajo Nation and the Hopi Tribe in Arizona to provide sustainable housing solutions in their respective tribal communities. The AHEAD grant will help fund the Native Home Resource Network - COVID Resilience and Recovery program staff and associated travel for outreach across the region.

  • Linc Housing Corporation (Sponsored by Arizona Central Credit Union), which renovates and preserves sustainable affordable homes for seniors, families, and special needs populations throughout California. The grant will help pay for kitchen equipment, including light fixtures, fire sprinklers and a hood system at the commercial kitchen space.

  • Opportunity Junction (Sponsored by City National Bank), an organization that offers various job training and placement programs in Contra Costa County, California, to help residents overcome barriers to employment and career advancement. The grant will help the organization to maintain adequate staffing by supporting the salaries of the certified nursing assistant instructor and professional development instructor.

  • Nevada Partners Inc. (Sponsored by Toyota Financial Savings Bank), which provides programs and services for education, workforce development, financial literacy, and housing to low- and moderate-income children, families, and other individuals in West Las Vegas. The grant will help provide operating support and enable the organization to hire additional staff focused on job development, as well as supporting paid work experience or job training costs for participants.

  • Housing and Economic Rights Advocates (Sponsored by East West Bank), a legal service and advocacy organization addressing various financial wellness and housing issues that exacerbate disparities in low- and moderate-income communities in California, including student loan and medical debt, credit building, and fair access to financial resources and housing. The grant will support staff attorneys providing workshops and one-on-one counseling.

A full list of this year’s AHEAD grant winners and more information about the program is available at fhlbsf.com.

Since 2004, the Bank has awarded $90 million in AHEAD Program grants to support over 660 nonprofit projects and programs across Arizona, California, and Nevada.

About Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California and Nevada strengthen communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies and community development financial institutions — promote homeownership, expand access to quality housing and boost economic development. Together with our members and other partners, we are making the communities we serve more vibrant, equitable and resilient.

CONTACT: Media Contact: Mary Long, longm@fhlbsf.com, (415) 572-6717


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