Nexbank forms a Partnership with Dallas Neighborhood Homes and College Savings Bank to serve their Community better
According to national statistics, southern Dallas has one of the lowest home ownership rates in the whole country. Dallas Neighborhood Homes working alongside Dallas Area Habitat for Humanity have announced that they will be offering affordable housing loans to the residents of southern Dallas in collaboration with Nexbank.
The three organizations announced that they would ensure that they provide a minimum of 100 house loans annually over the next five years. This house loans will be offered to the low-income households of certain areas of southern Dallas.
Nexbank will finance this deal to a tune of $50 million over the next five years. Dallas Neighborhood Homes will also provide financial counseling to the residents who will benefit from this program to ensure that they are able to pay the mortgage. The firm is a registered non-profit mortgage banker.
Nexbank acquires College Savings Bank of Princeton
According to a press statement released by Nexbank, the regional bank has purchased College Savings Bank. Although only a few details of the deal were announced, College Saving Bank will maintain its name and all branding. However, it will now be a division of the leading regional Dallas bank.
Nexbank’s president Mr. John Holt said in a statement that the move was a win-win for both parties. He continued to say that the move was essential and is in the direction of Nexbank overall funding strategy.
The acquisition will help Nexbank to serve more people and help more families to plan and save for college. College Savings Bank was established in 1987 in Princeton, New Jersey. It has mainly focused on partnering with parents to help them save and plan for their children’s higher education. College Saving Bank is the program manager of Indiana College Choice CD 529 Savings as well as the Arizona Family College Savings Program.