HomeStreet Bank, which has branches in Lynnwood and Mountlake Terrace, has been named the recipient of the Federal Home Loan Bank of Seattle’s (FHLB) annual Community Spirit Award.
This is the first time in its history that HomeStreet has received this prestigious award. The award recognizes a member of the FHLB cooperative that exemplifies the spirt of community partnership in creating affordable housing and economic development opportunities in the communities it serves. The Federal Home Loan Bank of Seattle covers a large region in its jurisdiction including Alaska, Hawaii, Idaho, Montana, Oregon, Utah, Washington, Wyoming, American Samoa, Guam, and the Northern Mariana Islands.
According to Seattle Bank President and CEO Michael L. Wilson, “HomeStreet Bank has been a valued member since 1986 and fully exemplifies what our affordable housing and community investment programs stand for: providing an opportunity for individuals and families in need to have a safe, affordable home and the resources that can help them achieve and maintain a good quality of living.”
On Oct. 23, CEO Mark Mason and Director of Community Relations and Senior Vice President Kathy Williams were presented with the award, as well as $5,000 to further their work in the community. During his acceptance speech, Mason announced that HomeStreet would contribute the $5,000 award to FUSION of Federal Way, Wash. FUSION is an all-volunteer community organization that owns 16 transitional homes for families in the greater Federal Way area. Federal Way branch manager Rich Dryden currently serves on the FUSION board.
Through its work with the FHLB and strong community partnerships, HomeStreet has helped to provide over $367 million in grants and reduced-rate loans to support more than 5,300 affordable homes. This funding included:
- Over $5 million in Affordable Housing Program (AHP) grants
- $1 million of Home$tart Program grants
- $361 million in reduced-rate loans through the FHLB’s Community Investment Program/Economic Development Fund