FHLBank San Francisco Commits $250,000 in Matching Donations for Disaster Relief in Arizona, California, and Nevada
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SAN FRANCISCO, Dec. 11, 2018 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of San Francisco is matching the charitable donations of its members to organizations helping victims and communities affected by recent natural disasters and is announcing several changes to expand this effort.
The Bank has increased the total amount available for disaster relief matching donations from $150,000 to $250,000, has increased the maximum match per member financial institution from $5,000 to $10,000, and has expanded the program to include all three states in the Eleventh Federal Home Loan Bank District—Arizona, California, and Nevada.
“When we first introduced the donation match program in the fall of 2017, we were responding to the devastating wildfires in Northern California,” said Greg Seibly, president and chief executive officer of FHLBank San Francisco. “We wanted to do our part, and also support our members’ efforts to respond to the urgent needs of their local communities.”
To date, 25 FHLBank members have contributed or pledged a total of $398,000 to organizations serving fire victims and affected communities, and the Bank has donated or pledged $127,500 in matching funds to the same organizations.
The Bank will now match up to $10,000 per member for donations made to local organizations providing services and support to disaster victims. The match is available to both newly participating members and members who have previously accessed the program, on a first-come, first-served basis.
In addition to matching members’ charitable donations to a variety of charities, the Bank has made $100,000 in direct donations in 2017 and 2018 in response to wildfires in California. The Bank directly donated $25,000 to the American Red Cross-California Northwest Chapter to support victims of the 2017 North Bay fires and $25,000 to the United Way Thomas Fire Fund for victims in Ventura and Santa Barbara counties. In response to the two most recent California wildfire disasters, the Woolsey Fire in Los Angeles and Ventura County and the Camp Fire in Butte Country, which was the largest and most deadly fire in California history, the Bank has pledged to directly donate $25,000 to the North Valley Community Foundation and $25,000 to the Ventura County Community Foundation.
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 programs that help members create affordable housing and promote community economic development. The Bank’s members are headquartered in Arizona, California, and Nevada and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.