Ulster Savings Bank Awards $2,500 Grant

POUGHKEEPSIE – Ulster Savings Bank is pleased to announce their recent capital grant of $2,500 to Rebuilding Together Dutchess County (RTDC) in support of their ongoing affordable housing projects.
The Bank’s grant, which was made possible as a result of its membership in the Federal Home Loan Bank of New York (FHLBNY), became a reality as a result Ulster Savings’ application to the FHLBNY’s Affordable Housing Program.  The Program, which has existed since 1990, provides funds to members who submit applications on behalf of project sponsors who are planning to purchase, rehabilitate or construct affordable homes or apartments, according to the FHLBNY.  The grant funds will be used to assist with ongoing RTDC affordable housing projects (single-family dwellings) throughout Dutchess County.

“For 24 years, our friends at Rebuilding Together Dutchess County have been rehabilitating homes of the low-income, elderly and disabled throughout Dutchess County.  They have not only transformed lives for those in need, their work has helped to revitalize entire communities,” noted Joan M. Eck, Chief Credit Officer at Ulster Savings Bank.  “We were delighted that our Affordable Housing Program application was accepted by the Federal Home Loan Bank and we’re grateful that we can help RTDC continue their efforts in Dutchess County.”