Funds Will Assist Residents and Areas Impacted by Natural Disaster in Chaves County

The Federal Home Loan Bank of Dallas (FHLB Dallas) has provided a $250,000 charitable donation to Community Foundation of Southern New Mexico to assist with recovery from flooding in Roswell, New Mexico.

Community Foundation of Southern New Mexico, based in Las Cruces, New Mexico, will provide financial resources to support the immediate and long-term recovery needs for the residents and areas affected by the devastation in Roswell and surrounding areas in Chaves County.

More than 400 homes and 200 businesses were damaged from flooding from severe storms that swept through the area on October 19 and October 20, 2024.

Community Foundation of Southern New Mexico is working closely with the Office of Emergency Management, Chaves County Health Council and nonprofits in Chaves County to support all of those affected.

In addition, FHLB Dallas member institution Pioneer Bank has set up a donation account to collect funds to help the victims. Donations are also being accepted at any Pioneer Bank location. Funds in the account will be donated directly to the Community Foundation of Southern New Mexico.

“The devastation from a natural disaster can be profound and can require significant resources for recovery,” said Christopher Palmer, president and CEO of Pioneer Bank and an FHLB Dallas board member. “Pioneer Bank and FHLB Dallas are here to help.”

In 2025, $4 million is expected to be made available for the Bank’s Disaster Rebuilding Assistance (DRA) program, which provides grant funds to low- to moderate-income homeowners to repair their homes after an eligible natural disaster. Households with income of less than 80 percent of the area’s median income may qualify for grants up to $15,000 for home repairs.

“Helping communities recover after a natural disaster is something we are proud to be able to do, and we believe partnering with a local organization, Community Foundation of Southern New Mexico, will help get the aid out quickly to those who need it,” said FHLB Dallas President and CEO Sanjay Bhasin.

Please check the FHLB Dallas website, fhlb.com, for updates.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $129.4 billion as of September 30, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.

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