FORT WAYNE, Ind. — 3Rivers Credit Union and FHLBank Indianapolis have awarded $75,000 to Bridge of Grace Ministries to renovate four aging homes in southeast Fort Wayne.
The funding includes a $60,000 Community Multiplier Member Match Grant from FHLBank Indianapolis and a $15,000 contribution from 3Rivers. The money will support structural repairs, mechanical system upgrades and other improvements to make the homes safer and ready for families in the Mount Vernon Park neighborhood.
“Housing is a gap in the community — affordable housing even more so,” said Don Cates, president and CEO of 3Rivers. “When you have a house, even if you own it, sometimes it’s hard to keep up with maintenance as inflation and prices rise.
Cates said assistance that reduces housing and maintenance costs benefits the broader community.
Bridge of Grace has renovated homes in Mount Vernon Park since 2016, using grants, private donations and volunteer labor to help keep rents affordable. The credit union’s announcement said the organization has completed more than 40 renovations, although a background section of the same release listed 35.
Part of Broader Neighborhood Initiative
The renovations are part of Bridge of Grace’s H.O.P.E. initiative, which stands for Housing, Opportunity, Progress and Education. The organization also provides early childhood education, mentoring, financial coaching and other community resources.
“Bridge of Grace is really a community development organization,” said Martin Pastura, the ministry’s interim CEO. “We work a lot with kids and have a childcare center, a health center, and a housing program — all of that plays into making the community better.”
Pastura said the award will help make the four older homes stronger and more environmentally safe.
How the Grant Program Works
FHLBank Indianapolis’ Community Multiplier Member Match Program allows member financial institutions to support nonprofits working to preserve and expand affordable housing in Indiana and Michigan.
Representatives of 3Rivers, FHLBank Indianapolis and Bridge of Grace gathered Oct. 23 at the credit union’s Northland Branch in Fort Wayne to recognize the award.
Founded in 1935, 3Rivers Federal Credit Union serves more than 138,000 members through 24 branches and has more than 500 employees. FHLBank Indianapolis is one of 11 regional Federal Home Loan Banks and is owned by member financial institutions in Indiana and Michigan. The banks are privately capitalized and funded government-sponsored enterprises that provide financing to member institutions, including for housing and small-business needs.
