ChoiceOne Bank Collaborates with FHLBank to Grant $1 Million to Fresh Coast Alliance

ChoiceOne Bank's Partnership with Fresh Coast Alliance

In a significant move to support housing stability and recovery efforts, ChoiceOne Bank has announced a partnership with the Federal Home Loan Bank of Indianapolis, awarding the Fresh Coast Alliance a substantial grant of $1 million. This funding comes under the Affordable Housing Program (AHP), aimed at improving housing availability for individuals rebuilding their lives after incarceration or addiction.

ChoiceOne, a community-centric financial institution, is deeply invested in the welfare of its local community. Kelly Potes, the CEO of ChoiceOne, expressed their gratitude towards the partnership with FHLBank Indianapolis and highlighted the importance of aiding organizations like Fresh Coast Alliance (FCA) in their mission to provide safe, affordable housing. “We are here to help our communities thrive. Supporting housing stability is a crucial part of this commitment,” Potes stated.

Enhancing Sober Living

The allocated grant will specifically be used to renovate four of the five sober living homes managed by Fresh Coast Alliance, allowing for improvements in safety and livability. This renovation aims to increase housing capacity by 10%, creating more opportunities for individuals seeking recovery. Joy Sparks, the Executive Director of Fresh Coast Alliance, expressed appreciation towards ChoiceOne for their sponsorship. “This collaboration extends beyond funding. It highlights our mutual commitment to dignity and stability for those on their recovery paths. Such partnerships reflect our community's belief in second chances,” she remarked.

The Affordable Housing Program is critical in addressing essential housing needs for low- to moderate-income individuals and families. The grant awarded to Fresh Coast Alliance symbolizes a growing recognition that recovery housing is not just a mental health issue but a crucial aspect of public health and community stability.

A Vision for Recovery

ChoiceOne's Vice President and Commercial Loan Officer, Patricia Brown, reinforced their belief that access to affordable housing is pivotal for fostering strong communities. By partnering with FCA, they are not only disbursing the grant but also offering additional support through financial education classes and direct donations. This holistic approach aligns with their vision of investing in people and fostering healthier neighborhoods.

The collaboration between ChoiceOne Bank and Fresh Coast Alliance is not just about financial support; it's about changing lives. Fresh Coast Alliance works with over 30 agencies, 18 employers, and 14 churches to provide holistic programming, experienced coaching, and accredited safe housing. They also operate ACAC, a vital service for mental health and substance use disorder treatment, ensuring that even those with limited access to resources can find help.

About the Federal Home Loan Bank of Indianapolis

The Federal Home Loan Bank of Indianapolis, one of the 11 regional banks in the Federal Home Loan Bank System, plays a pivotal role in offering low-cost funding solutions to member financial institutions. These efforts are particularly geared towards meeting the housing and small business needs of community members across Indiana and Michigan.

For more information about Fresh Coast Alliance and their significant work in recovery housing and treatment programs, visit Fresh Coast Alliance. Likewise, details about the initiatives and funding through ChoiceOne Bank can be found on their official website.

Conclusion

Through initiatives like the $1 million grant to Fresh Coast Alliance, ChoiceOne Bank exemplifies how financial institutions can play a crucial role in community development. This partnership not only underscores the importance of affordable housing but also reflects a united commitment to restoring hope and providing second chances to those striving for a fresh start after adversity.