Media Center | Press Releases « 2004 Press Releases »

2004 Press Releases

FOR IMMEDIATE RELEASE

Contact: Neil Cotiaux, FHLBank of Pittsburgh, 412-288-2851,
cell: 330-703-0753, neil.cotiaux@fhlb-pgh.com

FHLBANK OF PITTSBURGH MAKES GRANT OF $88,300 FOR FLOOD RELIEF EFFORTS; BLITZ-BUILDER HOSANNA INDUSTRIES WILL RESTORE DAMAGED HOMES WITH FUNDS

PITTSBURGH, PA, September 28, 2004 — The Federal Home Loan Bank of Pittsburgh has made a grant of $88,300 to its longtime affordable housing partner, Hosanna Industries, Inc., to help restore homes damaged by the recent floods that devastated much of Pennsylvania.

The grant represents an emergency set-aside from the FHLBank's Banking On Business (BOB) program and comes in the wake of more than 100 calls to Hosanna from people seeking their assistance at a time of great need.

"My spirit soared when the Bank's president, Jay Roy, called to tell me about the check," said the Rev. Donn Ed, executive director of the faith-based "blitz-builder" of affordable housing whose campus is in Rochester, PA. "Last week's events — and the release of these funds — remind us that, in life, anything can happen."

In addition to making the $88,300 emergency grant, the Bank announced a campaign by its employees to collect cleaning and other items to help flood victims. From now until October 31, the FHLBank's Catalyst Club will collect items such as soap, plastic buckets, disinfectant, household chlorine bleach, flashlights and batteries, mops, rags, sponges and first-aid items for distribution to flood victims being assisted by Hosanna. Mars, PA.-based James Austin Company, a manufacturer of household cleaning products, has agreed to match monetary and in-kind contributions made by Bank employees.

The Federal Home Loan Bank of Pittsburgh, with assets of more than $57 billion, serves nearly 350 financial institution members in Delaware, Pennsylvania and West Virginia. It is one of twelve FHLBanks, all private cooperatively owned banks that provide wholesale housing finance, community lending and correspondent banking services to member banks, savings institutions, credit unions and insurance companies.