Nexbank is giving Dallas Neighborhood Homes and Dallas Area Habitat for Humanity $50 million in loans for their Affordable Housing Loan Program. They plan on giving 100 loans per year to low income residents in southern Dallas. Dallas Area Habitat for Humanity is offering those families counseling services. Nexbank is going to pay the title fees and $2,000 per loan in closing costs. Dallas Area Habitat’s Senior Vice President of Mortgage Operations, Mark Tribuna, said the new loan program would address the problems facing families in southern Dallas. He also believes this program will improve the children’s future. NexBank’s Executive Vice President and Chief Operating Officer, Matt Siekielski, said that the two organization’s records of helping low-income families were strong. Every year, Dallas Area Habitat for Humanity has built 50 homes and 1600 homes in total.
On December 1, 2015, Nexbank acquired College Saving Bank. NexBank’s President and CEO, John Holt, said College Savings Bank would retain its branding and name. Matt Siekielski said the move would benefit their clients and assist families in saving money for their children to go to college. Since it was founded in 1987, College Savings Bank has been mainly focused on college savings.
The College Savings Bank has partnered with parents who desire higher education for their kids, and manages the Arizona Family College Savings Program-Bank Plan and the India CollegeChoice CD 529 Savings Plan.
NexBank Capital, Inc. provides financial services across the nation through commercial banking, investment banking, and mortgage banking. NexBank SSB’s charter dates back to 1922. It provides financial services and products to corporations, financial institutions, individuals, and institutional clients. College Savings Bank offers a high-yield savings account without asset-management fees and different FDIC-insured CD investment options. The tax benefits from 529s and the security can be enjoyed by families who work with the bank.