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Bankers Help Build Habitat Home
Bankers from around Texas and throughout the nation were in San Antonio on Saturday, October 22, to build a Habitat for Humanity of San Antonio home for single mom, Lorena Magdaleno, and her four daughters.
The Habitat home is a “dream come true … and shows how a single mother could make it with the help of good people,” said Magdaleno.
The ABA Housing Partners Foundation has partnered with the Texas Bankers Association and Habitat for Humanity of San Antonio to build the house. The home, underwritten by the Federal Home Loan Bank of Dallas, is being built in Coleman Ridge, a new development that will be composed 185 Habitat homes and is adjacent to a newly constructed elementary school.
Through the ABA Housing Partners Foundation, ABA members have contributed $1.9 million and 5,000 volunteer hours to build 10 Habitat for Humanity homes across the nation.
“This is wonderful for our organization and such a great example of the great work being done in our community,” said Stephanie Wiese, HFHSA Vice President of Development & Communications.
About the ABA: The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $13 trillion banking industry and its two million employees. Learn more at www.aba.com
About Habitat for Humanity of San Antonio: Habitat for Humanity of San Antonio is an ecumenical, Christian organization working with families in need to build simple, decent and affordable homes without interest or profit. Habitat families are required to put in a minimum of 300 hours of “sweat equity,” meaning they help build their own home, the homes of their neighbors and they attend home ownership education classes. In turn, they purchase their homes on a 0% interest, 20-year mortgage. Their payments average about $400 a month, or about half the fair market rent for a two-bedroom apartment in the city. HFHSA was founded in 1976 as the first U.S. affiliate of Habitat for Humanity International. The organization has built 713 homes in its 35-year history. There are currently 24 homes under construction in Coleman Ridge.
Directions to Coleman Ridge: Old Pearsall Road and Loop 410; from downtown San Antonio, take 35 South (toward Laredo) to 410 North; take Exit #2 (Old Pearsall Road); turn Left and go under bridge; take the first right onto Excellence Drive; follow the parking signs.