Arrowhead Community Bank Supports
National Farm Workers Service Center's
Affordable Housing Projects
GLENDALE - (April 18, 2007) -- Arrowhead Community Bank has been a proud supporter of the National Farm Workers Service Center (NFWSC) for several years.
In addition to making annual donations of $1,000 in support of the service center's good works, Arrowhead Community Bank has sponsored Federal Home Loan Bank (FHLB) grant applications for the NFWSC. The FHLB grants were made under both the Access to Housing and Economic Assistance for Development (AHEAD) and Workforce Initiative Subsidy for Homeownership (WISH) programs.
The AHEAD Program helps FHLB members support economic development and housing projects during the conception and early development phases. The program helps fund projects that provide housing, services or other benefits to low- to moderate-income households and communities, resulting in the creation or retention of jobs, or facilitating public or private infrastructure improvements. Average grant amounts are $20,000 to $25,000.
The WISH Program provides grants to qualified homebuyers through FHLB members. The program is designed to help people living in high-cost areas purchase homes near their work. The amount reserved in 2006 for NFWSC through Arrowhead Community Bank was in excess of $200,000.
The mission of NFWSC is to produce affordable housing for people in Arizona. The construction and operation of the housing projects are funded with money from the U.S. Department of Housing and Urban Development.
"Arrowhead Community Bank is pleased to partner with the National Farm Workers Service Center," said Amy Lou Blunt, Arrowhead's executive vice president and chief credit officer. "We are very happy to see the service center's hard work paying dividends for West Valley senior citizens who desire an affordable place to live."
Gloria Munoz, NFWSC's director of real estate development in Arizona and New Mexico, was a member of the Arrowhead Community Bank Board of Directors from 2004-07. She is pleased to announce that the service center is getting ready to open Glendale Haciendas, a 61-unit affordable housing project for low income senior citizens at 6001 W. Missouri in Glendale.
The service center is also in the process of constructing a 69-unit affordable housing project for seniors in Avondale that will be called Avondale Haciendas
"These are jewels for the Glendale and Avondale communities," said Munoz. "These types of housing projects are highly sought after by communities in the Southwest. Affordable housing is also in great demand by senior men and women on fixed incomes who deserve a safe and attractive place to live."
Glendale Haciendas will start taking housing applications in May from people age 62 and older. Eligibility is based on income. For more information, please contact Jose Soliz, NFWSC regional supervisor for property management, at (602) 995-0981.
Founded in 1966, the National Farm Workers Service Center uses education, child development, affordable housing, economic development, health care and financial services as tools to create a better future for various communities. Since 1983, the NFWSC has developed various affordable housing and economic development projects to address the needs of farm workers, Latinos and other working families.
About Arrowhead Community Bank
Arrowhead Community Bank is a full service financial institution that has been part of the West Valley since opening its doors in September 2000. The bank and its staff are deeply committed to community involvement and three years in a row, Arrowhead Community Bank was recognized as a top small business (less than 50 employees) in Corporate Volunteerism by the Maricopa County Volunteer Center. The bank has been active with numerous community organizations, including Habitat for Humanity of the West Valley where it generated in-kind donations and supplied volunteers to build two homes in the City of El Mirage.
