Tuesday, 7 March 2017

Grant worth $650,000 Secured by Customers Bank for Safe Haven Project

Customers Bank, a community-based full-service bank recently announced the news of securing an Affordable Housing Program (AHP) grant worth $650,000 from the Federal Home Loan Bank (FHLBank) of Pittsburgh for Safe Haven, an affordable housing development in reading sponsored by the Hope Rescue Mission.

Based in Wyomissing, Customers Bank is a member of Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. The Bank is renowned for providing a range of banking services from small to medium-sized business through its offices in Pennsylvania, New York, Rhode Island, New Jersey, and Massachusetts.Renowned entrepreneurs like Bhanu Choudhrie are also amongst its board of directors.

“Customers Bank is pleased to build up our partnership with Hope Rescue Mission and support the vision of Rob and his team. This is a critical project and we appreciate the support of our partners at the FHLB of Pittsburgh in approving our application for this investment in the Berks County community.” said Richard Ehst, President and COO Customers Bank.

The Safe Haven project aims to rehabilitate the first three floors of a building that currently houses Hope Rescue Mission. Almost 117 shelter and transitional affordable housing units for very low-income residents will be preserved under this project, including long-term residents in a recovery program, and some who have progressed to employment. This project also aims to provide

individuals with the emotional, educational, spiritual and economic tools they need for independence.
“Homelessness is a problem that affects the entire community. Partners like Customers Bank help us provide critical programs and services to help homeless individuals find housing, employment and the help they need to get back on their feet. This is how we build thriving communities.” said Rob Turchi, Executive Director of Hope Rescue Mission.

Providing food, clothing, and shelter to approximately 70 men on the daily basis, the work done under the Safe Haven Project is remarkable. Providing social services and programs to the low-income residents is also the part of this project.

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