NexBank SSB, a Dallas-based financial institute, has come a long way over the years. This particular financial institute is a regional bank, but it provides services that can match the services of larger national banks. In 2016, NexBank partnered with Dallas Neighborhood Homes to provide affordable home ownership. This was one of NexBank’s largest endeavors as it provided up to $50 million in loan support. This loan support was awarded to low-income homebuyers who were in need of affordable mortgages. This project was known as the Affordable Housing Loan Program, and there were three organizations that brought this project into fruition.
Dallas Neighborhood Homes, NexBank and Habitat For Humanity embarked on this journey together, and it was a major success. Who directly benefited from the services? The beneficiaries of the Affordable Housing Loan Program were residents of certain zip codes in southern Dallas. In some cases, the people of certain neighborhoods tend to have limited access to mortgage support, but all of this has changed. NexBank is dedicated to this program as it will continue on for at least five years. Dallas Neighborhood Homes is a nonprofit-mortgage provider that specialize in these services. In this particular city, Habitat For Humanity is the largest nonprofit-home builder. Homeowners also received preparation training during this time.
NexBank also merged with College Savings Bank in 2016. Reducing the cost of coverage for college students was the goal. This progressive collaboration will include up to 529 savings programs. College Savings Bank agreed with NexBank that it will retain its name for operations. In other words, this program is designed to help struggling parents pay for the expensive costs of getting a college educations. NexBank is definitely doing its part to better mankind, but who knows what it has in store for the years to come.