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FHLBank San Francisco Awards $325,000 in Grants for Economic Development, Pandemic Recovery in Arizona

Federal Home Loan Bank Of San Francisco
·3-min read

Funding Will Support 13 Nonprofits

SAN FRANCISCO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) awarded $325,000 in grants to 13 Arizona nonprofits through its 2021 AHEAD Program. The grants, delivered through local FHLBank San Francisco member financial institutions, 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 across Arizona 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.”

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This year, 31 applications from Arizona nonprofits were considered, and grants of $25,000 each were delivered to 13 winning applicants through 11 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:

  • Southwest Human Development (Sponsored by Arizona Central Credit Union), which provides comprehensive early childhood development and family support programs. AHEAD will fund childcare management software and tablets for a project providing business coaching and technology tools to childcare center owners in low-income communities of color to ensure financial sustainability.

  • 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.

  • Foresight Foundation for Economic Equity (Sponsored by Raza Development Fund, Inc), a Black-led community economic development organization serving minority communities. Funds from the grant will support a project providing employment outreach, recruitment, training, and career development to help place 150 people of color into jobs in the tourism and hospitality sectors.

  • Arizona Restaurant and Hospitality Association Education Foundation (Sponsored by Employers Preferred Insurance Co), the nonprofit arm of the state restaurant association. AHEAD will help pay for staff training, curriculum materials and testing and certification fees for a project providing culinary training programs for the formerly incarcerated and the unhoused.

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 $20 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