News and Press Releases

Jul 31, 2002

FNB awarded $10,000 grant for low-income transitional housing

First National Bank Alaska has been awarded a $10,000 federal grant on behalf of The Salvation Army to create transitional housing for low-income individuals in Kodiak.

The project will involve constructing 1,200 square feet of residential space and renovating 1,000 square feet of adjacent space in an existing building to create four apartment-like dwellings. Once completed, the four units will hold 16 beds. Ten beds will be used for low-income individuals returning from residential substance abuse treatment in Anchorage; the remainder will be used by Alaska Natives from remote villages who have traveled to Kodiak for medical treatment.

The Salvation Army will operate the facility, providing its residents with case management, aftercare and relapse prevention services as needed. It will also provide occupants with work therapy and vocational training/placement services.

First National Bank received the funding in the form of a Challenge Fund grant from the Federal Home Loan Bank of Seattle. Challenge Fund is a revolving fund that provides quarterly grants to financial institutions to pay for predevelopment expenses associated with affordable housing. First National was the only Alaska bank awarded a Challenge Grant in the current funding round.

First National worked with us from the very beginning, said Capt. Sherry McWhorter, the Salvation Armys Divisional Social Services Coordinator. Their staff volunteered right away to help us take the idea and present it in a way that the federal bank would accept.

Were thrilled to have such a great working partnership with First National, McWhorter said.

Established in 1922, First National Bank is the states largest Alaskan-owned and operated bank, with 27 branches throughout Alaska and ATMs in 17 rural communities.

 

Contact: Marketing Department, (907) 777-3409