Member News — Habitat for Humanity of Puerto Rico Is Latest Columbia Bank Foundation Donation Recipient
September 20th, 2018
Habitat for Humanity of Puerto Rico (HFHPR) is the latest recipient of a $10,000 donation from the Columbia Bank Foundation through Columbia Bank’s “Employee Sponsored Giving Program.” Each month, the Bank’s employees nominate and vote on organizations to receive special donations. The most recent donation went to Habitat for Humanity of Puerto Rico whose mission is to help individuals and families achieve stability, self-sufficiency and a better future through homeownership.
The current median income in Puerto Rico makes it difficult for working families to obtain a home. The organization partners with local families and volunteers to rehabilitate houses. Partner families complete 320 hours of “sweat equity” and 80 hours of educational workshops to cover information on responsible homeownership. After completion, chosen families acquire the house through a 25-year mortgage at 0% interest, which in turn, funds the construction of additional homes at no profit to HFHPR.
“We admire the work of Habitat for Humanity of Puerto Rico,” said Thomas J. Kemly, President and CEO of Columbia Bank. “We recognize that homeownership generates many benefits for families and their surrounding communities by creating jobs, stable living environments, and a sense of pride.”
Shown is a Habitat team at a recent repair project for an elderly couple in Loíza.
Created to serve the needs of local communities, the Columbia Bank Foundation provides grants and contributions to organizations recognized as tax-exempt under Section 501 (c)(3) of the Internal Revenue Code. The Columbia Bank Foundation actively seeks to provide support in seven major areas: affordable housing programs, community investment and economic development opportunities, financial literacy and educational opportunities, health and human services, community sponsored events, food pantries, and the arts. Special consideration is always given to programs that provide a measurable community impact.