ALBANY, N.Y.—Four Albany-area organizations received a boost to their homeownership education efforts through $21,000 in grants from M&T Bank. The funding will help the not-for-profit organizations provide educational services to homebuyers and homeowners about budgeting, mortgage lending, home maintenance and more, as well as home repair skills and services.
“Purchasing and owning a home is complicated and expensive, and to help make well-informed decisions, people need education and expert resources,” said Eric Dahl, Regional Community Reinvestment Officer for M&T Bank. “These classes, counseling and home repair services are an excellent resource at all stages of homeownership, and together they make a real difference for homebuyers and homeowners in Albany, Schenectady, Troy and surrounding communities.”
Grant funding will benefit the following organizations:
- The Affordable Housing Partnership of the Capital Region in Albany to support its Homeownership Center services;
- The Albany County Rural Housing Alliance with offices in Voorheesville, Cohoes and Ravena to support administration of an emergency home repair program to help existing homeowners navigate the unexpected;
- Better Neighborhoods Inc. in Schenectady to support its Housing Counseling Program;
- The TRIP NeighborWorks® Homeownership Center in Troy for its housing counseling program and organizational support.
“M&T has been a consistent supporter of our HomeOwnership Center for many years now,” said Troy Rehabilitation and Improvement Program (TRIP) Executive Director Patrick Madden. “Their continued involvement has been instrumental in helping us develop a highly-regarded program that provides comprehensive assistance to aspiring and existing homeowners—transforming lives and communities. We are delighted to partner again with M&T in 2015.”
M&T serves first-time homebuyers through a number of different mortgage programs, including acting as one the leading providers of State of New York Mortgage Agency (SONYMA) loans. The bank works closely with homeownership education programs to help guide prospective owners through the process of purchasing their first home, while connecting them with resources to make ownership affordable in the long run. Education is often an important complement to affordable mortgage products designed to meet the needs of first-time homebuyers.
With this gift, M&T has provided a total of $235,000 in support to Albany-area home and financial education agencies since 2005.
Operating with a community bank model, charitable activities and grants are decided by a team of local employees who live and work in the region. M&T Bank maintains a regional headquarters—providing management and administrative support for 15 counties in New York State—on Great Oaks Boulevard in Guilderland.
About M&T Bank
Founded in 1856, M&T Bank Corp. (www.mtb.com) is one of the 20 largest U.S. commercial bank holding companies, with more than $96 billion of assets and more than 650 branch offices in New York, Pennsylvania, Maryland, Delaware, Virginia, West Virginia and Washington, D.C. Member FDIC.
©2015 M&T Bank, Member FDIC. Bank NMLS.