FHLBank Pittsburgh provides $1M for West Virginia flood relief

The Federal Home Loan Bank of Pittsburgh (FHLBank) has announced the recipients of grants for owner-occupied rehabilitation assistance through a program specially targeted to households affected by flooding last summer in West Virginia.
• CommunityWorks and United Bank – $400,000 to help in all 12 counties declared federal disaster areas*
• Greater Greenbrier Long-Term Recovery Group and Summit Community Bank – $250,000 to help in Greenbrier County communities of White Sulphur Springs, Caldwell, Neola, Harts Run, Rupert, Anjean, Hines, Charmco, McRoss, Rainelle and Ronceverte
• Appalachia Service Project and Pendleton Community Bank – $150,000 to help in Greenbrier County communities of Rainelle and Charmco
• Southern Appalachian Labor School and United Bank – $100,000 to help in Fayette, Clay, Greenbrier and Nicholas Counties
Senators Joe Manchin (D-WV) and Shelley Moore Capito (R-WV) commended FHLBank’s Disaster Relief Program and the concern shown by local banks following the floods last June. “In the months since the flood waters devastated communities across West Virginia, we have rebuilt homes, businesses and schools, but there is still much work to be done. I applaud FHLBank on its continued commitment to helping West Virginians recover from this horrific tragedy,” Manchin said.
“The damage from this flood has been profound and heartbreaking,” said Senator Capito. “It is wonderful to see local bankers work together with community organizations to offer relief and hope, and I applaud FHLBank Pittsburgh for setting aside these funds to help our fellow West Virginians.”
The funds were made available to FHLBank member financial institutions to be used in federally declared disaster areas in West Virginia. The financial institutions submitted applications on behalf of qualified sponsor organizations that have experience managing a housing rehab program. FHLBank awarded funds based on criteria established by the Board of Directors.
“Management and the Board of FHLBank Pittsburgh considered what we could do to provide help for our neighbors in what the National Weather Service called a ‘one-in-a-thousand-year event,’” said Patrick A. Bond, founding general partner at Mountaineer Capital LP, in Charleston, and Chairman of the Board of FHLBank. “We are privileged to make these grants available through our member financial institutions.”

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