Federal Home Loan Bank of New York

On October 11, we were pleased to visit The Mount Kisco Interfaith Food Pantry and show our ongoing support of their efforts with a $75,000 grant. The Pantry’s feeding programs are a lifeline for over 2,000 low-income residents in Northern Westchester, providing nutritious food and easing financial burdens. As food and housing insecurity become increasingly intertwined, our partners at The Pantry have seen a record number of visits in 2024. In July alone, they assisted 3,529 households with groceries, a significant increase from the previous year. With continued support, the pantry is on track to serve 130,000 individuals by 2025. At the Federal Home Loan Bank of New York, we are dedicated to addressing crucial needs in our communities, joining with our members to support efforts aimed at a range of issues, from affordable housing to food insecurity. Together, we can make a meaningful impact.

We are proud to share that through our Small Business Recovery Grant (SBRG) Program, our valued member, The Atlantic Federal Credit Union (The Atlantic), facilitated $50,000 in grant funding to ten local nonprofits. The SBRG Program was designed to help nonprofits and small businesses navigate economic challenges due to the rate environment, inflation, supply-chain constraints, and/or rising energy costs. Through this program, The Atlantic awarded $5,000 each to nonprofits dedicated to providing essential services in Essex and Union counties, ensuring that these organizations can continue their important work in the community. Congratulations to the grant recipients: ??????????????????????Bianca F.L.O.W.E.R.S. Inc. Food Pantry ??????????????????????Golden Rule Community Outreach Organization ??????????????????????Jewish Family Service of Central New Jersey ??????????????????????Mobile Meals of Westfield ??????????????????????New Jersey Veterans Network ??????????????????????People for Animals ??????????????????????St. Joseph Social Service Center ??????????????????????The S.H.A.R.E. Alliance ??????????????????????United Way of Greater Union County ??????????????????????West Orange Community House and Boys & Girls Club Thank you to The Atlantic for extending these recovery grants and to the incredible organizations for their continued impact on our communities. To learn more about our SBRG Program, please visit: https://lnkd.in/e3Zrx5Ai

In observance of Columbus Day / Indigenous Peoples’ Day, the FHLBNY will be closed on Monday, October 14th. Our offices will reopen on Tuesday, October 15th.?

We are excited to announce that Generations Bank, our member, has awarded $50,000 in grant funding through our Small Business Recovery Grant (SBRG) Program to support seven outstanding non-profits in Seneca County. AG Cutrona, EVP – Chief Banking Officer at Generations Bank, expressed gratitude for the ongoing support, stating, “This funding will make a meaningful difference in the lives of many in Seneca County by allowing these organizations to continue their vital work for our community.” The funding will be used as follows: - Beverly’s Animal Shelter: for animal care, supplies, and facility maintenance. - CAP Cayuga/Seneca Women’s Transitional House: to cover operating expenses and contractual services. - DAR – Sa-Go-Ye-Wat-Ha Chapter: to restore the DAR Fountain in Veteran’s Memorial Park. - It’s a Wonderful Life Museum: for working capital and ongoing construction efforts. - Pathway Home of the Finger Lakes: to support critical end-of-life care. - Seneca Falls Fire Department: to acquire new portable radios to enhance emergency response. - Seneca Falls Performing Arts Center: for building renovation costs. This marks the second successful grant from FHLBNY that Generations Bank has secured, following a similar grant in December 2023 for non-profits in Union Springs. We take pride in partnering with our members to support the communities they serve. To learn more about our SBRG Program, visit https://lnkd.in/e3Zrx5Ai.

On October 1, our team joined with NBT Bank and Rehabilitation Support Services to tour a 20-unit supportive housing development in downtown Albany which had received a $380,385 Affordable Housing Program grant from FHLBNY through our member NBT Bank. The development, which opened in 2020, provides residents access to vital supportive services and case management through the Empire State Supportive Housing Initiative. We’re proud to support projects that enhance our communities, and this development is an example of the impact that partnerships can make—offering affordable, stable housing and essential support in a convenient downtown location.

We are proud to share that through our Small Business Recovery Grant (SBRG) Program, our valued member, SeaComm FCU, awarded $50,000 in grant funding to 11 local nonprofit organizations. These grants were distributed to: Good Samaritan Food Pantry, Joint Council for Economic Opportunity, Renewal House, Watertown YMCA, Help Sami Kick Cancer, North Country Veterans Association, Salvation Army Massena, Zoo New York, Homeward Bound Adirondacks, Police Activities League of Massena, and St. Lawrence Power & Equipment Museum. Each of these organizations received funding to help navigate challenges posed by inflation, supply chain disruptions, rising energy costs, and other economic pressures. To learn more about how the SBRG Program is making a difference, visit: https://lnkd.in/e3Zrx5Ai

At FHLBNY, we are committed to supporting small businesses and nonprofits. Through our Small Business Recovery Grant (SBRG) Program, our member, Suffolk Credit Union, distributed a $10,000 grant to the Suffolk AME Cares Foundation. Daniel C Levler, President of the Suffolk AME Cares, expressed his gratitude, noting how the grant will support their mission to give back to communities and empower their members who provide essential services in Suffolk County. This partnership highlights the impact of local collaboration. As Michele Dean, CEO and President of Suffolk Credit Union, stated, “We are deeply gratified to help AME Cares continue and expand the outstanding support it provides. Their work is making Suffolk County a better place for all.” One of AME Cares’ standout initiatives is Serenity Gardens, a first-of-its-kind park designed for individuals with special needs, including those who are visually/hearing impaired, on the autism spectrum, or living with Alzheimer’s. The park will also be a resource for seniors, veterans, and the general public. Through the SBRG Program, members like Suffolk Credit Union can provide meaningful financial assistance to organizations like the Suffolk AME Cares Foundation, helping them thrive in these challenging times. To learn more about our SBRG Program, please visit https://lnkd.in/e3Zrx5Ai.

Last week, the FHLBNY had the privilege of hosting a networking event with John E. Harmon, Sr., IOM, Founder and CEO of The African American Chamber of Commerce of New Jersey (AACCNJ). We convened to discuss the New York State Black Business Alliance (NYSBBA), an organization committed to empowering Black businesses and fostering economic equity across New York State. The NYSBBA and AACCNJ also offer ongoing job placement, technical- and on-the-job training, and many other career-oriented resources to the communities they serve – an effort closely aligned with our commitment to fostering community and economic growth. At this event, held at our New York Offices, attendees, including many FHLBNY member institutions, trade organizations, and special guests, learned about the mission and vision of the newly formed NYSBBA, as well as several exciting initiatives and innovative projects that John and his executive team are pursuing. They also shared ideas for future collaborations and potential partnerships across our district. ? Thank you to John and his team for their valuable insights and to all those who attended the session. The FHLBNY is excited about the prospects for future collaboration with great organizations like the NYSBBA and AACCNJ, and we look forward to continuing the conversation!

The FHLBNY recently launched the 2024 Round of our Small Business Recovery Grant (SBRG) Program, which is designed to support our members’ small business and nonprofit customers who are facing economic challenges due to inflation, supply-chain constraints, and/or rising energy costs. ? Through participating in our SBRG Program, our member, OceanFirst Bank, distributed $50,000 in grant funding to ten local nonprofit organizations focused on food security. Of those ten recipients, the Friendly Fridge Foundation of New York received $5,000, which will help rescue, transport, and share over 100,000 lbs. of healthy produce. ? “Located in the Bronx, a borough with the highest rates of diabetes in the country, the Friendly Fridge BX focuses on rescuing and redirecting healthy foods to share with people from all over the Bronx and Yonkers,” shared Sara Allen, Cofounder of Friendly Fridge. “With the support of this $5000 grant from OceanFirst Bank, over 1,800 visitors per week who come in search of healthy food will have access to over 117,000 lbs. of fresh produce over the course of the next 13 weeks." ? To learn more about our SBRG Program, please visit https://lnkd.in/dJkWp7WT

Let us never forget those who were lost that day, as well as the families and friends they left behind.?May we always remember the acts of bravery, kindness, and sacrifice that followed this tragedy, reminding us that the human spirit perseveres.