Funds Used to Replace Aging, Leaky Roof

With a new roof over her head, 72-year-old Dankie Paynes is enjoying her home once again.

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Dankie Paynes in front of her home. (Photo: Business Wire)

She received $8,000 in funding from the Federal Home Loan Bank of Dallas (FHLB Dallas) through its member Hope Federal Credit Union (HOPE) to replace her roof in Moorhead, Mississippi.

The funds were awarded through the Special Needs Assistance Program (SNAP). Through member institutions, SNAP provides grants for the repair and rehabilitation of owner-occupied housing of eligible, special-needs individuals. FHLB Dallas set aside $2 million of its 2024 Affordable Housing Program funds for SNAP.

She is grateful to FHLB Dallas and HOPE for her brand new roof.

“I sure thank everyone for helping me,” she said. “It’s a load off my mind to have this roof fixed.”

Ms. Paynes has mobility issues and had to retire from her job at a restaurant due to an injured arm. She lived in Moorhead for 37 years and raised her two sons and daughter there. The roof to her home had had issues for years, and her insurance company did not pay for repairs.

She found out about SNAP through her sister, who put her in touch with HOPE.

“I don’t know what I would’ve done without them,” she said. “I couldn’t afford to have the roof fixed myself.”

SNAP is in such high demand that annual funding is typically fully allocated within days of being released by FHLB Dallas.

“We are so pleased to be able to help Mississippians like Ms. Paynes, who badly needed this roof repair and is extremely grateful for the support,” said Jena Howie, vice president of Community and Economic Development at HOPE. “SNAP has been a lifeline for so many Mississippi special-needs residents.”

This is a program that truly helps those who need it most.

“SNAP is one of our most popular programs,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “A small amount of funding can make a huge difference in someone’s life.”

For more information about the SNAP, visit fhlb.com.

About Hope Federal Credit Union

HOPE (Hope Enterprise Corporation, Hope Credit Union, and Hope Policy Institute) provides financial services; aggregates resources; and engages in advocacy to mitigate the extent to which factors such as race, gender, birthplace, and wealth limit one’s ability to prosper. Since 1994, HOPE has generated more than $3.9 billion in financing that has benefitted more than 2.7 million people in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee. Learn more at www.hopecu.org.

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 $125.1 billion as of March 31, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 815 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.

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