Arvest Bank Continues Long History of Supporting University District Development Corporation’s Affordable Housing Efforts at University of Arkansas at Little Rock

Arvest Bank Continues Long History of Supporting University District Development Corporation’s Affordable Housing Efforts

Arvest Bank has once again demonstrated its commitment to supporting affordable housing initiatives in the University District neighborhoods. Recently, the bank awarded a ,000 Community Area Revitalization Efforts (CARE) grant to the University District Development Corporation (UDDC). This donation marks a continuation of Arvest Bank’s long-standing tradition of support for UDDC’s affordable housing efforts.

Arvest Bank’s CARE grant is a testament to its extensive use of Federal Home Loan Bank of Dallas (FHLB Dallas) community investment programs. These programs aim to revitalize neighborhoods through the provision of grants and funds for single-family and multifamily housing. The Special Needs Assistance Program, which provides grants for the repair and rehabilitation of homes for elderly, disabled, or special needs homeowners, is one such program utilized by Arvest Bank.

The awarded funds were put to immediate use by UDDC, which completed the renovation of a 1,200 square foot, three-bedroom, two-bathroom house in the Midtown Neighborhood of Little Rock. This newly renovated home has been rented to a family of four, providing them with a safe, decent, and affordable living space.

Arvest Bank’s significant impact on affordable housing is evident in its use of most FHLB Dallas community programs. This comprehensive approach has been recognized by FHLB Dallas, underscoring the bank’s commitment to making a difference in people’s lives. The bank’s ongoing support for UDDC has been instrumental in the corporation’s ability to continue providing affordable housing units to those in need.

UDDC’s executive director, Barrett Allen, expressed gratitude for the award and praised Arvest Bank’s unrelenting support, stating, “They were the first bank to support us when we were starting out. We were an up-and-coming nonprofit focusing on affordable housing, and it was difficult during the economic crisis. But Arvest has always been willing to support our efforts.”

Arvest Bank’s dedication to helping create thriving communities is evident not only through this CARE grant but also through its extensive network of banking services across Arkansas, Kansas, Missouri, and Oklahoma. As an institution, it remains committed to meeting the needs of its customers while actively contributing to the well-being of the communities it serves.

The story of this CARE grant and its impact on the University District’s affordable housing initiatives serves as a powerful example of what can be achieved through collaborative efforts between organizations like Arvest Bank and UDDC.

  • Arvest Bank has been recognized as a CARE Award recipient by FHLB Dallas.
  • The bank’s extensive use of FHLB Dallas community investment programs supports affordable housing initiatives.
  • The ,000 CARE grant was donated to UDDC, which used it to complete the renovation of a family home.
  • Arvest Bank’s continued support for UDDC has enabled the corporation to maintain its efforts in affordable housing.

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