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News Release

For Immediate Release
August 17, 2007

Rep. Farr, Federal Home Loan Bank of San Francisco Host Roundtable Addressing Housing Needs of Working Families in Monterey County
FHLBank SF Announces Monterey County Winners of Grants Totaling $50,000

SALINAS – As part of its mission to improve housing options for working families, the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) hosted a roundtable housing discussion with Rep. Sam Farr (D-CA) and announced $50,000 in grants that will help working families in Monterey County.

The housing roundtable, which also included key mortgage lenders, as well as housing, real estate and business leaders, discussed ways to expand affordable housing in coastal areas of the county where high prices continue to limit choices for working families.  The participants also addressed the housing problems in inland, agricultural communities where it is difficult for farm workers to find affordable housing.

“Working families are the foundation for our communities and we owe it to them to find solutions for their housing needs,” Rep. Farr said. “I’m always happy to work with local and regional groups to ensure our resources are being used to improve the quality of life for all of the families in Central Coast.”

Lawrence Parks, the FHLBank San Francisco Senior V.P. Legislative & External Affairs, said “With the current uncertainty in the housing industry, FHLBank San Francisco and its member institutions continue to help working families with housing needs throughout their district covering Arizona, California, and Nevada.”

“One of the hallmarks of the Federal Home Loan Bank system is its ability to help provide liquidity to its members so that they can help consumers finance homes in both good and bad economic times,” Mr. Parks said. “FHLBank San Francisco is here today, with our member institutions, and leaders of this community, to determine how we can better help working families in Monterey County enjoy the American dream of homeownership.”

Mr. Parks noted that the FHLBank San Francisco has 11 member institutions that operate 63 branches in the region.  Also speaking at the event were Bob Wheeler, CEO, Pacific Valley Bank; John Fair, CEO, Salinas Valley Chamber of Commerce; Michael Houlemard Jr.,  Executive Officer, Fort Ord Reuse Authority; Joyce Keane, V.P. Community Development, Rabobank, NA;  Luis Sanchez, First Vice President, Washington Mutual Bank and Simon Salinas, Monterey County Board of Supervisors. The three financial institutions, Pacific Valley Bank, Rabobank, NA, and Washington Mutual Bank are members of FHLBank San Francisco.
 
Mr. Parks also announced the Monterey County winners of FHLBank San Francisco’s Access to Housing and Economic Assistance for Development (AHEAD) Program grants. The AHEAD Program works with member institutions to provide grants that benefit low- to moderate-income households. Monterey’s winning grants will improve financial literacy among Hispanics and provide micro loans to help the spouses of agricultural workers start home-based businesses.

A $25,000 FHLBank San Francisco grant through Rabobank will help Radio Bilingue, Inc. collaborate with ACORN Housing Corporation on a financial literacy initiative targeting families in California's major agricultural regions, including Monterey County, and communities in Arizona and Nevada.  Six live interactive talk show programs, along with related educational and promotional announcements, will be produced and broadcast in Spanish over a network of public FM stations. The broadcasts, as well as printed materials that will be distributed through ACORN’s network of local offices and at events, will provide crucial homebuying and home financing information.

A similar program was awarded an AHEAD grant last year that had a tremendous impact in the Fresno area. The program resulted in 80 families and individuals buying homes. In addition, another 92 families were in the process of buying homes. The Radio Bilingüe broadcasts in Bakersfield, El Centro/Calexico, Fresno, Modesto/Stockton, Salinas and Laytonville resulted in 510 telephone calls for help regarding home-buying, and the radio shows encouraged 383 people to attend our workshops.

Working through Rabobank, another FHLBank San Francisco $25,000 grant will be awarded to the Women's Fund of Monterey County. The project will provide educational and financial resources to help low-income women launch or expand small home-based businesses. 

“The micro-lending program promotes economic advancement for women who are mainly farm workers residing in the rural areas of northern Monterey County,” Mr. Parks said.  “These grants will help working families move up the economic ladder.”  

About Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada. FHLBank San Francisco is one of 12 regional banks in the Federal Home Loan Bank System, which is celebrating 75 years of service to members and communities this year.

Contact:
Kevin Blackburn, (415) 616-2572
blackbur@fhlbsf.com
 
© 2000-2008 Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of San Francisco

News Release

For Immediate Release
August 17, 2007

Rep. Farr, Federal Home Loan Bank of San Francisco Host Roundtable Addressing Housing Needs of Working Families in Monterey County
FHLBank SF Announces Monterey County Winners of Grants Totaling $50,000

SALINAS – As part of its mission to improve housing options for working families, the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) hosted a roundtable housing discussion with Rep. Sam Farr (D-CA) and announced $50,000 in grants that will help working families in Monterey County.

The housing roundtable, which also included key mortgage lenders, as well as housing, real estate and business leaders, discussed ways to expand affordable housing in coastal areas of the county where high prices continue to limit choices for working families.  The participants also addressed the housing problems in inland, agricultural communities where it is difficult for farm workers to find affordable housing.

“Working families are the foundation for our communities and we owe it to them to find solutions for their housing needs,” Rep. Farr said. “I’m always happy to work with local and regional groups to ensure our resources are being used to improve the quality of life for all of the families in Central Coast.”

Lawrence Parks, the FHLBank San Francisco Senior V.P. Legislative & External Affairs, said “With the current uncertainty in the housing industry, FHLBank San Francisco and its member institutions continue to help working families with housing needs throughout their district covering Arizona, California, and Nevada.”

“One of the hallmarks of the Federal Home Loan Bank system is its ability to help provide liquidity to its members so that they can help consumers finance homes in both good and bad economic times,” Mr. Parks said. “FHLBank San Francisco is here today, with our member institutions, and leaders of this community, to determine how we can better help working families in Monterey County enjoy the American dream of homeownership.”

Mr. Parks noted that the FHLBank San Francisco has 11 member institutions that operate 63 branches in the region.  Also speaking at the event were Bob Wheeler, CEO, Pacific Valley Bank; John Fair, CEO, Salinas Valley Chamber of Commerce; Michael Houlemard Jr.,  Executive Officer, Fort Ord Reuse Authority; Joyce Keane, V.P. Community Development, Rabobank, NA;  Luis Sanchez, First Vice President, Washington Mutual Bank and Simon Salinas, Monterey County Board of Supervisors. The three financial institutions, Pacific Valley Bank, Rabobank, NA, and Washington Mutual Bank are members of FHLBank San Francisco.
 
Mr. Parks also announced the Monterey County winners of FHLBank San Francisco’s Access to Housing and Economic Assistance for Development (AHEAD) Program grants. The AHEAD Program works with member institutions to provide grants that benefit low- to moderate-income households. Monterey’s winning grants will improve financial literacy among Hispanics and provide micro loans to help the spouses of agricultural workers start home-based businesses.

A $25,000 FHLBank San Francisco grant through Rabobank will help Radio Bilingue, Inc. collaborate with ACORN Housing Corporation on a financial literacy initiative targeting families in California's major agricultural regions, including Monterey County, and communities in Arizona and Nevada.  Six live interactive talk show programs, along with related educational and promotional announcements, will be produced and broadcast in Spanish over a network of public FM stations. The broadcasts, as well as printed materials that will be distributed through ACORN’s network of local offices and at events, will provide crucial homebuying and home financing information.

A similar program was awarded an AHEAD grant last year that had a tremendous impact in the Fresno area. The program resulted in 80 families and individuals buying homes. In addition, another 92 families were in the process of buying homes. The Radio Bilingüe broadcasts in Bakersfield, El Centro/Calexico, Fresno, Modesto/Stockton, Salinas and Laytonville resulted in 510 telephone calls for help regarding home-buying, and the radio shows encouraged 383 people to attend our workshops.

Working through Rabobank, another FHLBank San Francisco $25,000 grant will be awarded to the Women's Fund of Monterey County. The project will provide educational and financial resources to help low-income women launch or expand small home-based businesses. 

“The micro-lending program promotes economic advancement for women who are mainly farm workers residing in the rural areas of northern Monterey County,” Mr. Parks said.  “These grants will help working families move up the economic ladder.”  

About Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada. FHLBank San Francisco is one of 12 regional banks in the Federal Home Loan Bank System, which is celebrating 75 years of service to members and communities this year.

Contact:
Kevin Blackburn, (415) 616-2572
blackbur@fhlbsf.com
 


© 2000-2008 Federal Home Loan Bank of San Francisco