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Comerica Bank and FHLB Dallas Present Grant to Greater Houston Black Chamber Foundation
A $29,000 Partnership Grant Program (PGP) award was presented to the Greater Houston Black Chamber Foundation October 29 from Comerica Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas).
The organization will use the grant money, in part, to provide stipends for internships. ”We use a lot of college interns to help us because those young people just have it going on with technology,” comments Lucy Bremond, president of the foundation. ”It’s a win-win for us and the students. We’ve been given wings, and we want to fly. With the grant money, we also want to find other sources of funding and expand our opportunities to get more grants, so we can do more in the community.”
The foundation supports African-American businesses through the Greater Houston Black Chamber, the city’s first African-American civic organization.
The chamber was founded in 1935, and the foundation was established in 2010.
The Greater Houston Black Chamber has been partnering with Comerica Bank for several years, explains Vernita Harris, board chair of the chamber.
“The Greater Houston Black Chamber and the foundation are in line with supporting small business and also college students,” affirms Vanessa Reed, South Texas CRA manager with Comerica Bank. “They are helping to cultivate the next generation of business leaders throughout our community.”
Through the PGP, FHLB Dallas awards grants through its member institutions, to provide funding for the operational needs of community based organizations involved in affordable housing and economic development.
FHLB Dallas matches the cash contribution of a member financial institution to a community- based organization of $500 up to $5,000 at a 3:1 ratio. Through its members, FHLB Dallas awarded $225,000 in partnership grants in 2014.
Comerica Bank supports the chamber and foundation financially through the PGP, as well as by sponsoring the chamber’s annual scholarship event for high school seniors, says Reed. ”We provide $1,000 scholarships to qualified students attending state schools.”
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