TAB Bank Secures Affordable Housing Grants for 6 Utah Charities
TAB Bank, in collaboration with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), is offering $166,183 to a total of six Utah non-profit organizations for critical financial support for affordable housing and community development initiatives. As mentioned, TAB Bank is joining FHLB Des Moines, which administers a Member Impact Fund, a fund providing nearly $15 million in grants to hundreds of non-profit or government agencies.
FHLB Des Moines received more than 500 applications from 85 members in Hawaii, Idaho, Utah, Wyoming, and the U.S. territories of Guam, American Samoa and the Commonwealth of the Northern Mariana Islands. The following Utah organizations are receiving a total of $46,000 from TAB Bank and $120,183 from the Member Impact Fund:
EnableUtah--TAB Bank Grant $7,000, FHLB Grant $18,289, Total $25,289
United Way of Northern Utah—TAB Bank Grant $9,000, FHLB Grant $23,514, Total $32,514
Utah Center for Neighborhood Stabilization—TAB Bank Grant $5,000, FHLB Grant $13,063, Total $18,063
Utah Association of Family Support Centers—TAB Bank Grant $10,000, FHLB Grant $26,127, Total $36,127
YCC Family Crisis Center—TAB Bank Grant $5,000, FHLB Grant $13,063, Total $18,063
Habitat for Humanity of Weber and Davis Counties—TAB Bank Grant $10,000, FHLB Grant $26,127, Total $36,127
“We are thrilled to play a pivotal role in securing critically needed funds to these outstanding organizations to assist in offering affordable housing and community development in Utah,” Richard L. Bozzelli, president and CEO of TAB Bank, said. “The grants showcase TAB Bank’s permanent commitment to give back to the communities we serve and provide trusted banking services to commercial businesses and consumers, in Utah and throughout the United States.”
The Member Impact Fund increased from $10 million in 2022 to $15 million in 2023, but grant requests exceeded available funds by $2.2 million. The fund offers a nearly $3-to-$1 match of member donations and will be used for a variety of purposes including but not limited to, job training, down payment assistance, strategic planning, financial literacy, food banks, youth programs and more.