Change Labs receives $100,000 to invigorate economic opportunities on the Navajo Nation

The 2023 AHEAD grants will support 75 innovative economic development initiatives throughout Arizona, California, and Nevada

SAN FRANCISCO, Sept. 12, 2023 – The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has awarded $4 million in Access to Housing and Economic Assistance for Development (AHEAD) economic development grants to help 75 local organizations boost economic opportunity in underserved communities throughout Arizona, California, and Nevada. The grants, delivered through FHLBank San Francisco member financial institutions, are aimed at advancing innovative economic and community development initiatives that bring greater opportunity to underserved populations. The $4 million program allocation awarded this year represents a 166% increase from the 2022 grant cycle and, for the first time, the maximum grant amount for each recipient was increased to $100,000. These program expansions demonstrate FHLBank San Francisco’s deep commitment to fostering economic vitality throughout the communities it serves. 

“The positive impact we have seen AHEAD grants make on countless individuals, small businesses, and communities over the years reinforces our desire to double down and increase our funding two-fold in 2023,” said Teresa Bryce Bazemore, president and chief executive officer at FHLBank San Francisco. “Now more than ever before, our communities are riddled with financial worries, job insecurity, and, in some cases, crippled by climate disasters. The need to funnel funds to organizations dedicated to supporting a wide range of socioeconomic issues has never been higher, and our mission clearly directs us to support and fund these critically important initiatives.” 

AHEAD grants are awarded annually and are intended to create economic opportunity by expanding proven development models or piloting new interventions. This year’s grant recipients support a diverse array of underserved groups, including low- to moderate-income households, individuals of diverse backgrounds -- including women, seniors, underserved youth, individuals with disabilities, formerly incarcerated individuals, the unhoused, and tribal organizations.

”This is first year partnering with FHLBank and its member, Oxford Life Insurance, on our work,” says Change Labs Executive Director Heather Fleming. “We’re honored to be amongst this years grantees and will use the funds to further our lending work and financial education opportunities in our community for small business owners.”

In addition to its grant to Change Labs, here is a sampling of this year’s AHEAD grants:

Public Education Foundation partnered with member Wells Fargo National Bank West to receive a $100,000 AHEAD grant to fund PEF Teachers Pathway, a project that will provide funding to support 16 veteran paraprofessionals currently working in education support roles on their path to becoming licensed teachers in Las Vegas, Nevada. The grant funding will support staff salaries, mentor and mentee stipends, and the curriculum and Praxis testing fees.

Community Bridges partnered with member Santa Cruz Community Credit Union to receive a $70,000 AHEAD grant to fund Rising Above the Storms: Empowering Survivors to Rebuild, a project designed to provide a range of essential services to underserved low-income families in Pajaro Valley and Santa Cruz County, California impacted by recent flooding and storms. In addition to supporting staff salaries, this AHEAD grant will primarily provide direct financial support and connect the families with the resources they need to repair their damaged homes. 

Black Music Entrepreneurship Incubator partnered with CDFI member Community Vision Capital & Consulting to receive a $50,000 AHEAD grant to fund the HiiiWAV project, which is designed to empower Black musicians and entrepreneurs in Oakland, California and the greater San Francisco Bay Area by equipping them with vital tools, resources, and training to navigate the music industry and build businesses while protecting their art. The AHEAD grant will support staff salaries and other program-related costs. 

To learn more about the AHEAD program and this year’s economic development grant recipients, visit the Bank’s website.