POSTED: 12:15 p.m. HST, Aug 13, 2012
LAST UPDATED: 06:23 p.m. HST, Aug 13, 2012
First Hawaiian Bank has been named the winner of Federal Home Loan Bank of Seattle’s Community Spirit Award.
The award recognizes a member of the Seattle Bank cooperative that exemplifies the spirt of community partnership in creating affordable housing and economic development opportunities in the communities it serves.
Federal Home Loan Bank will give First Hawaiian the award later this year in Hawaii, as well as $5,000 to further its affordable housing mission.
“Through its membership in the Seattle Bank and strong community partnerships, First Hawaiian has helped to provide nearly $37.9 million of grants and reduced-rate loans to support 1,150 affordable homes,” Seattle Bank President and CEO Michael L. Wilson said today.
The funding has included $4.8 million of Seattle Bank Affordable Housing Program grants, $33 million of Community Investment Program/Economic Development Fund loans, and $60,000 of Home$tart Program grants.
Federal Home Loan Bank is a member-owned cooperative serving 339 community financial institutions and provides its members with access to wholesale funding, which they can use to make home mortgages, small business, and other loans in their communities.