Tri Counties Bank and FHLBank San Francisco Donate $200,000 to Black Homeownership
Tri Counties Bank and FHLBank San Francisco have announced a combined $200,000 donation to promote Black homeownership through FHLBank's Empowering Black Homeownership matching grant program. The initiative resulted in two $100,000 donations to the Greater Sacramento Urban League (GSUL) and Self-Help Enterprises (SHE). The funds will support GSUL's HUD-approved Housing Counseling Program and SHE's Mutual Self-Help Housing Program, both aimed at addressing racial equity in homeownership and narrowing the Black homeownership wealth gap in California.
Tri Counties Bank e FHLBank San Francisco hanno annunciato una donazione combinata di $200.000 per promuovere la proprietà di abitazioni da parte delle comunità nere attraverso il programma di sovvenzioni abbinato Empowering Black Homeownership di FHLBank. L'iniziativa ha portato a due donazioni di $100.000 ciascuna alla Greater Sacramento Urban League (GSUL) e a Self-Help Enterprises (SHE). I fondi supporteranno il programma di consulenza abitativa approvato dall'HUD di GSUL e il programma Mutual Self-Help Housing di SHE, entrambi mirati a affrontare l'equità razziale nella proprietà di abitazioni e a ridurre il divario di ricchezza nella proprietà di abitazioni tra le comunità nere in California.
Tri Counties Bank y FHLBank San Francisco han anunciado una donación combinada de $200,000 para promover la propiedad de viviendas entre la comunidad negra a través del programa de subvenciones de igualación Empowering Black Homeownership de FHLBank. La iniciativa resultó en dos donaciones de $100,000 a la Greater Sacramento Urban League (GSUL) y a Self-Help Enterprises (SHE). Los fondos apoyarán el Programa de Asesoramiento Habitacional aprobado por el HUD de GSUL y el Programa de Vivienda de Autoayuda Mutual de SHE, ambos destinados a abordar la equidad racial en la propiedad de viviendas y a reducir la brecha de riqueza en la propiedad de viviendas entre la comunidad negra en California.
Tri Counties Bank와 FHLBank San Francisco가 FHLBank의 Empowering Black Homeownership matching grant 프로그램을 통해 흑인 주택 소유권을 촉진하기 위해 $200,000의 공동 기부를 발표했습니다. 이 이니셔티브는 Greater Sacramento Urban League (GSUL)과 Self-Help Enterprises (SHE) 각각에 $100,000의 기부를 가져왔습니다. 이 자금은 GSUL의 HUD 승인 주택 상담 프로그램과 SHE의 상호 자가 도움 주택 프로그램을 지원하여, 주택 소유권에서 인종 평등을 다루고 캘리포니아 내 흑인 주택 소유권의 부의 격차를 좁히는 데 기여할 것입니다.
Tri Counties Bank et FHLBank San Francisco ont annoncé un don combiné de $200.000 pour promouvoir l'accession à la propriété des Noirs à travers le programme de subventions de correspondant Empowering Black Homeownership de FHLBank. Cette initiative a conduit à deux dons de $100.000 chacun à la Greater Sacramento Urban League (GSUL) et à Self-Help Enterprises (SHE). Les fonds soutiendront le programme de conseil en logement approuvé par le HUD de GSUL et le programme de logement d'auto-assistance mutuelle de SHE, visant à aborder l'équité raciale en matière de propriété et à réduire l'écart de richesse en matière de propriété chez les Noirs en Californie.
Tri Counties Bank und FHLBank San Francisco haben eine gemeinsame Spende von $200.000 angekündigt, um die Wohneigentumserlangung für Schwarze durch das Matching Grant Programm Empowering Black Homeownership von FHLBank zu fördern. Die Initiative resultierte in zwei Spenden von jeweils $100.000 an die Greater Sacramento Urban League (GSUL) und Self-Help Enterprises (SHE). Die Mittel unterstützen das von HUD genehmigte Wohnberatungsprogramm von GSUL und das Mutual Self-Help Housing Programm von SHE, die beide darauf abzielen, die Rassengleichheit im Wohneigentum zu fördern und die Wohlstandslücke im Wohneigentum für Schwarze in Kalifornien zu verringern.
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The focus on no-cost housing counseling and the Mutual Self-Help Housing Program addresses both educational and practical barriers to homeownership. While the monetary impact is modest relative to TCBK's market cap, this initiative aligns with ESG objectives and could enhance the bank's Community Reinvestment Act performance, potentially supporting future growth opportunities in diverse markets.
FHLBank San Francisco launched the matching grant program in 2022 to advance racial equity in homeownership and narrow the Black homeownership and wealth gaps. As a member financial institution, Tri Counties Bank can request dollar-for-dollar matching grants, up to a total matching amount of
This year, FHLBank San Francisco awarded a three-to-one match to Tri Counties Bank’s donation, resulting in two
“These funds will help ensure the continuation of our HUD-approved Housing Counseling Program, which we offer to the
“The San Joaquin Valley has among the highest poverty rates in the State of California,” said Tom Collishaw, President and CEO of SHE. “This grant will help to further promote our Mutual Self-Help Housing Program, and other homebuying opportunities to our Black neighbors throughout the Valley.”
To learn more about the Empowering Black Homeownership program, visit https://www.fhlbsf.com/products/targeted-community-initiatives/racial-equity-initiatives.
About Tri Counties Bank
Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ: TCBK) headquartered in
About the Federal Home Loan Bank of
The Federal Home Loan Bank of
View source version on businesswire.com: https://www.businesswire.com/news/home/20241030826340/en/
Megan Sheehan, AVP, Public Relations Manager
MeganSheehan@tcbk.com
(530) 332-2330
Source: Tri Counties Bank
FAQ
How much did Tri Counties Bank (TCBK) and FHLBank San Francisco donate for Black homeownership in 2023?
Which organizations received the TCBK and FHLBank San Francisco homeownership grants?
What is the purpose of TCBK's donation through FHLBank San Francisco's matching grant program?
