Federal Home Loan Bank of New York, Prudential Financial and Fundación Comunitaria de Puerto Rico join efforts to support the work of One Stop Career.
San Juan, PR - April 17, 2024 - San Juan, PR - April 17, 2024 Federal Home Loan Bank of New York (FHLBNY) and Prudential Financial financially supported the Puerto Rico Community Foundation (FCPR) to make it feasible to grant a donation to One Stop Career Center, a non-profit organization that actively works with several communities in Toa Baja. The $161,000 donation will allow the organization to bridge the inequality gap in this community by supporting the process of obtaining home ownership in the sector, transforming homes into resilient homes and supporting the economic development of its residents.
“One Stop has been a great ally of the Puerto Rico Community Foundation for many years and we hold the communities of this municipality close to our hearts because we know firsthand the inequities present among its residents. We are extremely grateful that at this crucial time for these communities, we have the support of Prudential and the Federal Home Loan Bank of New York, The strategic way it allows us to strengthen the physical, human and social capitals of these communities”, said the president and chief executive officer of the FCPR, Dr. Nelson I. Colón Tarrats.
The donation will allow One Stop Career Center manage property titles for some fifteen residents, many of whom are elderly. In addition, approximately four residences will be transformed to become resilient through uninterrupted access to water and energy, the latter through the installation of solar panels. Both services are currently unstable in this community. There will also be an economic development component as it seeks to empower entrepreneurial development for the community; the latter will be in collaboration with the Asociación de Comunidades Unidas Tomando Acción Solidaria (ACUTAS), a non-profit organization with a microenterprise incubation program.
“Prudential has been an ally of Puerto Rico since Hurricane Maria and has been a consistent collaborator of the Puerto Rico Community Foundation to achieve immediate relief after natural events, but also to support sustainable initiatives in the communities. We are very grateful to have been able to bring these two institutions together to make this grant to One Stop”, he said Mary Ann Gabino, FCPR senior vice-president.
The support of Prudential The proceeds from a philanthropic disaster relief investment awarded to FCPR in response to Hurricane Fiona.
One Stop has worked in Toa Baja since 2005, especially in the communities of San José, Villa Calma I, Villa Calma II, Villas del Sol and Ingenio, together with ACUTAS and its community leaders. Both organizations have evaluated these communities and found that most of the residents have serious problems with access to electricity and potable water.
“We are grateful for this donation and the relationship we have built with Fundación Comunitaria and ACUTAS to build strong and resilient communities. For twenty-three years we have been promoting alliances with different sectors for the well-being of the community and its social and economic transformation. This strategic union to support homeownership and economic development is part of One Stop's commitment to empower communities,” he said. Carmen Cosme, executive director of One Stop Career Center.
In the case of energy, the lack of connection to a formal electrical infrastructure and the fragility of the electrical system represent a risk to the physical safety of residents. These problems are exacerbated during extreme weather events, such as hurricanes.
“The Federal Home Loan Bank of New York is proud to partner with the Puerto Rico Community Foundation and Prudential to support One Stop Career Center”, said Jose R. Gonzalez, president and chief executive officer, FHLBNY. “Homeownership, resilience, and economic development are key to building stronger communities, and the work that One Stop is doing in Toa Baja creates a good foundation for everyone to grow,’ González added.
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About FCPR | It is a philanthropic organization with a 39-year history of collaboration with donors and communities, with the purpose of developing the latter's capacities through the increase of community capital. It is the first of its kind in the Caribbean and Latin America and the only one of its kind in Puerto Rico. Its current programmatic focuses promote access to water and energy; racial and gender equity, and the Sustainable Development Goals (SDGs); in addition, the activation of economic development, among others. It is recognized as an 1101.1 organization under the Puerto Rico Internal Revenue Code and as a 501(c)(3) organization under the Federal Internal Revenue Code.
About The Prudential Foundation | It is committed to accelerating the economic mobility of communities in the United States and around the world. It collaborates with nonprofit organizations that help strengthen communities, address barriers to economic equality and create new pathways to financial security. It was established in 1978 and has contributed more than $1 billion.
About FHLBNY | It is a wholesale bank chartered by the U.S. Congress. It is part of the federal mortgage banking system, which is comprised of a national wholesale banking network of 11 shareholder-owned regional banks. As of December 31, 2024, FHLBNY served 334 member institutions in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands. Federal Home Loan Banks support the efforts of local members to help provide financing to U.S. homebuyers.
About One Stop Career Center | A private, non-profit organization established in 2000 to impact communities by improving their quality of life through housing, workforce development, health, legal and educational programs, and empowering low socioeconomic status populations in urban and rural areas.