Tri Counties Bank Awarded $940,000 in Grants from the Federal Home Loan Bank of San Francisco
Tri Counties Bank and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) recently awarded Affordable Housing Grants (AHP) totaling $940,000 to support the development of affordable housing for low income families and senior citizens.
Two grants were awarded – one on behalf of PEP Housing in Santa Rosa for $350,000, which will be used for the development of 25 low-income senior housing units, and a second to the Veterans Housing Development Corporation for $590,000, which will provide much needed funding for the development of Veterans housing in Windsor, CA.
Including the two awards in 2020, Tri Counties Bank has been proud to have accepted awards from AHP for 26 projects dating back to 1994, totaling $5.43 million.
“We are fortunate to have FHLBank San Francisco as a partner in our efforts to improve the availability of affordable housing across our communities. These grants, along with the dedicated efforts and partnership of local organizations, continues to make a positive difference in the lives of veterans and seniors,” said Guillermo Sandoval, Vice President and Director of Community Development for Tri Counties Bank.
“Tri Counties Bank has participated in our AHP since the early 1990’s, regularly supporting projects in small towns and cities where there is a great unmet need for affordable housing,” said Marietta Núñez, Senior Vice President and Community Investment Officer at the FHLB San Francisco. “We are proud to partner with them this year to provide funding that will create new housing units in Santa Rosa for low-income seniors from areas still recovering from recent wildfires, and also to support Windsor Veterans Village, which will offer 59 units of supportive housing to unhoused veterans and their families.”
About Tri Counties Bank
Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ: TCBK) headquartered in Chico, California, with assets of over $6.5 billion and a more than forty five-year record of financial success and stability. Tri Counties Bank provides a unique brand of Service With Solutions® serving communities throughout Northern and Central California with breadth of personal, small business and commercial banking services and easy access to it all with a surcharge-free nationwide network of more than 32,000 ATMs, advanced online and mobile banking and live banker support by phone 24 hours/7 days per week. For more information about Tri Counties Bank, call 1-800-922-8742 or visit www.TriCountiesBank.com. Member FDIC
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 build strong 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–foster homeownership, expand access to quality housing, seed or sustain small businesses, and revitalize whole neighborhoods. Each year, the Bank contributes 10% of net income to the Affordable Housing Program, which provides grants to support the acquisition, construction, or preservation of housing affordable to low- to moderate-income families and individuals. Together with our members and other partners, we are making the communities we serve more vibrant and resilient.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200810005787/en/
