First Hope Bank aids 6 nonprofits

First Hope Bank secured $50,000 through the Federal Home Loan Bank of New York’s (FHLBNY) 2024 Small Business Recovery Grant Program.

That money was distributed to six nonprofit organizations serving Sussex and Warren counties.

Project Self-Sufficiency, Ginnie’s House Children’s Advocacy Center, Family Promise of Sussex County, Domestic Abuse & Sexual Assault Intervention Services (DASI), Foodshed Alliance and the Domestic Abuse & Sexual Assault Crisis Center each received up to $10,000 to support their efforts in overcoming economic challenges exacerbated by inflation, supply-chain constraints and rising energy costs.

First Hope Bank’s president and chief Dan Beatty awarded the grant money to the organizations Sept. 5. “We are honored to partner with FHLBNY to provide valuable financial assistance to these incredible organizations who have helped so many as they carry out their missions,” he said.

“Their work is essential to the well-being of our community, and as a community bank, we are honored and committed to supporting them as they navigate these challenging times.”

The FHLBNY program offers a total of $5 million in grant funding, aimed at supporting FHLBNY members’ small business and non-profit customers. The program is specifically designed to aid organizations that have experienced financial hardships because of the current economic environment.

This program empowers participating FHLBNY members, such as First Hope Bank, to identify and support organizations that are most at risk of facing financial instability because of loss of revenue or unexpected expenses.

Deborah Berry-Toon, executive director of Project Self-Sufficiency, said, “We are immensely grateful for our partnership with First Hope Bank, and we are honored to have received a donation of $8,000 for use in supporting our emergency needs assistance programs for our most vulnerable neighbors.

“Our decades-long partnership has allowed us to provide crucial programs to individuals and families as they strive for economic self-sufficiency and family stability.”