Bank / Credit Union

Tri Counties Bank delivers more than $2.2M in grants for low-to-moderate income people

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August 26, 2024

Tri Counties Bank recently partnered with the Federal Home Loan Bank of San Francisco to award grants of more than $2.2 million to the Rural Communities Housing Development Corp. and The Kelsey to support affordable housing to low-and-moderate income individuals, according to a press release.

In particular, RCHDC will receive a $660,000 grant to provide services for Sunrise Cottages, a senior community in Anderson, California. The Kelsey will receive a $1.6 million grant to built the Kelsey Civic Center, which will provide 112 units of affordable housing for low-income individuals.

"This year's AHP grants nearly double our investment over last year's funding for critically needed affordable housing across our high-cost market of Arizona, California, and Nevada," Eric Cicourel, SVP, community investment officer of FHLBank San Francisco, said in the release. "We are grateful to our members and their partners, including Tri Counties Bank with Rural Communities Housing Development Corporation and Mercy Housing, for stepping up and working with us to help give more low-income families and vulnerable individuals a high-quality and affordable place to call home. The affordable housing crisis is impacting far too many people in the communities we serve and throughout the country, but together with our members and community organizations we are helping to make a positive difference with our AHP grants."

"Tri Counties Bank is delighted to collaborate with the FHLBank San Francisco in support of more affordable housing throughout California," Rick Smith, president and CEO of Tri Counties Bank, said in the release. "These grants, along with the dedicated efforts and partnership of local organizations, will make a significant impact in the lives of seniors and those with disabilities in our communities."