Fort Collins, CO, May 17, 2011 - Funding Partners, a not-for-profit community development financial institution, is pleased to recognize FirstBank for its generous support of affordable housing needs in Colorado.  

 

FirstBank has awarded Funding Partners $15,000 to help offset overhead expenses attributed to Funding Partners’ numerous statewide residential purchase assistance programs, including the new Funding Partners Down Payment Assistance program offered in cooperation with FirstBank.

 

FirstBank’s Northern Market President, Pat Brady, commented “Since 1998, FirstBank has recognized the value of a responsible, flexible and mission driven partner in the affordable housing arena.  That is why FirstBank and Funding Partners have faired better than most lenders during the recent economic downturn.  FirstBank was the original bank investor for Funding Partners contributing $1,500,000 in program funding and over $150,000 in annual operating support over the years.”    

 

Funding Partners has worked extensively with FirstBank in the launch of a new down payment assistance program, offered to low to moderate income first time homebuyers participating with FirstBank for their primary mortgage.   The down payment and closing cost assistance program was launched January 1, 2011 utilizing FirstBank investment funds recycled from the H2O program. 

 

FirstBank has been an integral part of Funding Partners success since the inception of the company, providing continuous financial support through grant and investment contributions.  Funding Partners is excited to continue our partnership with FirstBank and develop new programs together that address the needs of our local community while meeting organizational objectives.

 

According to Tom Hemmings, President of the Funding Partners Board of Trustees, the continued support offered by FirstBank is unprecedented.  “Not only was FirstBank instrumental in development of the organization, but successive leadership within the bank has proven critical to the success of Funding Partners.”  Hemmings continues, “FirstBank recognizes the mutual value each entity delivers to the community and each other, reinforced through local partnerships and executive-level commitment to the financial well-being of Funding Partners.”

 

For more information visit www.fundingpartners.org