Gov. Matt Meyer (D-Del.), U.S. Sens. Chris Coons (D-Del.) and Lisa Blunt Rochester (D-Del.) and U.S. Rep. Sarah McBride (D-Del.) joined the Federal Home Loan Bank of Pittsburgh (FHLBank) during a ceremony today at the New Castle County Hope Center Shelter announcing nearly $10 million in 2025 Affordable Housing Program (AHP) grants and voluntary housing grant initiative awards in Delaware. These grants, made in partnership with five member institutions, will support more than 350 affordable homes. The funding will assist with home repairs for seniors, new home construction, and improvements to the Hope Center, which supports individuals and families experiencing homelessness. Local organizations also leveraged more than $47 million dollars from Congress, the Delaware State Housing Authority (DSHA) Housing Development fund, HOME funds, and Low-Income Housing Tax Credits, to support these ten projects.

FHLBank is a cooperative whose members can access on-demand liquidity and community products to support community partnerships that foster job growth, economic vitality and long-term stability in Delaware and communities across the country. AHP was created by Congress as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and operations began in 1990. On an annual basis, each Federal Home Loan Bank must set aside at least 10% of its prior year’s net income to fund AHP. AHP is funded entirely through FHLBank earnings, and grants are available only through FHLBank members. The voluntary housing grant initiative is an additional voluntary pool of funding which is separate and distinct from FHLBank’s required, statutory AHP, and is provided to address the critical housing needs within FHLBank’s district.

“Housing is not an abstract issue –– it is dignity, stability, and a real chance to rebuild,” said Governor Matt Meyer. “I am grateful to FHLBank Pittsburgh, our federal delegation, and our local partners for bringing nearly $10 million to Delaware to support the repair and construction of more than 350 homes, as well as improvements to the New Castle County Hope Center. This is what collaboration looks like, when the private, public, and non-profit sectors work together to make life a little easier and a little more affordable for the Delawareans who need it most.”

“Every Delawarean deserves safe, decent, affordable housing,” said U.S. Senator Chris Coons. “Today’s announcement by FHLBank Pittsburgh and their member organizations of nearly $10 million for over 350 affordable living spaces across Delaware is what smart, locally driven policy across federal, private, and non-profit partners looks like.”

“I am so grateful to join FHLBank Pittsburgh today to announce new investments in affordable housing in Delaware,” said Sen. Blunt Rochester, a member of the Senate Banking, Housing, and Urban Affairs Committee. “With funding that will support more than 350 homes across our state, this investment will pay dividends for years to come. I will continue doing all I can to chart a new way home on housing policy and ensure every Delawarean has a safe and affordable roof over their head.”

“Today’s announcement is an important step in the ongoing work to ensure every Delawarean has access to safe, stable, and affordable housing,” said Rep. McBride. “This investment will make a real difference for seniors, families, and individuals facing housing insecurity. I’m grateful for the partnership with FHLBank Pittsburgh and our local housing partners, and I look forward to continuing this work together.”

“Thank you to Senators Coons and Blunt Rochester and Representative McBride for their continued partnership that allows Federal Home Loan Banks to provide the support we celebrate today,” said David G. Paulson, president and CEO, FHLBank Pittsburgh. “In collaboration with our member financial institutions and the many people here today, including Governor Meyer, this funding will address unique local housing needs and positively impact communities across the state."

Joining Sens. Coons and Blunt Rochester and Rep. McBride were Delaware Insurance Commissioner Trinidad Navarro; New Castle County Executive Marcus Henry; FHLBank President and CEO David G. Paulson, and representatives from public, private and community partners. Several directors from FHLBank’s Board attended, including Brendan J. McGill, Chair and President and CEO, Harleysville Bank; Glenn R. Brooks, President, Leon N. Weiner & Associates, Inc.; and Blanche L. Jackson, CEO, Stepping Stones Community FCU; Romulo L. Diaz, Principal, Turtle On Post, LLC; as well as FHLBank’s Affordable Housing Advisory Council member, Carrie Casey, Manager, New Castle County.

A complete list of the AHP and voluntary housing grant initiative awards can be found at www.fhlb-pgh.com/ahp.

About FHLBank Pittsburgh

FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia. FHLBank products and resources help support community lending, housing and economic development. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932. Learn more by visiting www.fhlb-pgh.com.

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