Gulfport, Mississippi’s Coalition of African American Communities Receives $12K Grant

The Coalition of African American Communities (COAAC) is proof that good can arise from a bad situation. The nonprofit, founded as The Amos Network following Hurricane Katrina, changed its name and focus in 2014 to offer financial literacy and small business training to low-income residents of Gulfport, Mississippi. Today, COAAC was awarded $12,200 in Partnership Grant Program (PGP) funds from Community Bank, The First, A National Banking Association (The First) and the Federal Home Loan Bank of Dallas (FHLB Dallas).

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The Coalition of African American Communities (COAAC) in Gulfport, MS, was awarded $12,200 in Partnership Grant Program funds on August 18, 2017, from the Federal Home Loan Bank of Dallas with member institutions Community Bank and The First, A National Banking Association. (Photo: Business Wire)

COAAC will use the PGP grant to cover costs of new equipment, computer software, technical assistance and staff training.

“We have partnered with Community Bank and The First for many years,” said Anthony Thompson, COAAC executive director. “They have always worked with us on different projects. We really appreciate this grant and their many contributions over the years.”

PGP awards provide grants up to $12,000 to community-based organizations (CBOs). The funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services. Through PGP awards, FHLB Dallas matches a member’s contribution to a CBO of $500 up to $4,000 at a 3:1 ratio. PGP grants are offered once a year through FHLB Dallas' member institutions via a lottery system.

“FHLB Dallas’ PGP program helps to leverage the member bank’s dollars to make a more significant impact on the recipient,” said Harry Piascik, vice president and commercial lender at Community Bank. “These funds will allow COAAC to provide more services more often than could have been provided with only the member bank’s contribution.”

C. Jerome Brown, senior vice president and director of Community Development at The First, said COAAC’s community focus can reach Gulfport citizens who are underserved.

“Even today, 12 years after Hurricane Katrina, North Gulfport is recovering from the storm’s impact,” Mr. Brown said. “The First supports the life-changing work of COAAC in moving these citizens toward greater autonomy and self-sufficiency. With the help of our partners at Community Bank and FHLB Dallas, COAAC will be able to do even more for the area.”

Abra Taylor, founder of Gulf Coast Outreach and Leadership, is one of several local organizations to benefit from COAAC.

“Our organizations share common goals,” Mr. Taylor said. “And the connections we have been able to make, thanks to Anthony and COAAC, have helped us tremendously. We now work with a grant writer, and we are putting together formal training for our board of directors, thanks to them.”

In 2017, FHLB Dallas awarded $300,000 in Partnership Grant Program (PGP) funds through 31 member institutions to assist 30 community-based organizations. Combined with the $104,550 contributed by FHLB Dallas members, a total of $404,550 was awarded to the organizations.

“Community investment takes place at the local level,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “This foundational aspect really drives the success of the PGP program. Through our member institutions, FHLB Dallas is able to add financial resources in areas of need, as determined by those closest to the situation.”

To learn more about the PGP or other Community Investment programs from FHLB Dallas, visit fhlb.com/community.

About The First, A National Banking Association

The First, headquartered in Hattiesburg, Mississippi, began as a dream on a back porch in South Mississippi. A group of local businessmen talked about creating a bank that would take care of business by taking care of people one customer at a time... and The First was born. Now, that dream has grown from a back porch to cities and towns all over South Mississippi, South Alabama, and Louisiana. The First is more than a bank... because it is still a group of friends building relationships and taking care of business one customer at a time! The First currently has 50 locations and assets exceeding $1.5 billion.

About Community Bank

Community Bank, a $2.9 billion-dollar bank, headquartered right here in Mississippi, has 47 offices in 4 states – Mississippi, Alabama, Tennessee, and Florida, with 8 of those being here on the Mississippi Gulf Coast. With over 730 staff-owners, Community Bank takes pride in offering cutting-edge products and services from checking accounts and an in-house mortgage department to a full suite of business products.

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 $62.9 billion as of June 30, 2017, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.

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