Copy - Housing Continuum

Affordable Housing

Self-Help Credit Union

Evergreen Impact Housing Fund

Self-Help Credit Union is involved in affordable housing projects in various parts of the United States, including the Keys to Equity Program, which focuses on financing Accessory Dwelling Units (ADU). ADUs help to fill the affordable housing rentals in the housing continuum by expanding the footprints of existing homes (e.g. building garage apartments, in-law suites etc.). Self-Help supports these efforts by partnering with local organizations like Backyard Homes Project in Los Angeles, California.

Five Seattle-area credit unions (BECU, Salal Credit Union, Sound Credit Union, Verity Credit Union, WSECU) invested $11.1 million into the Evergreen Impact Housing Fund which works to close the last 10% financing gap of an affordable housing project in the state of Washington. Learn more about this partnership and the roles of the credit unions played in this brief video.

Hope Credit Union

Since 1994, Hope Credit Union has addressed the lack of affordable housing in the communities it serves by leveraging the Low Income Housing Tax Credit (LIHTC) to finance affordable housing developments. LIHTC subsidizes the acquisition, construction, and re-development of affordable rental housing for low-to-moderate income residents.

Vancity Credit Union

Since 2011, Vancity Credit Union has tackled affordable housing issues in the Vancouver area through its Affordable Housing Accelerator Program and Fund. This fund’s goal is to provide flexible, low-cost loans to support the expenses of the early phases of developing affordable housing—a stage in great need of funding that is often deemed too risky in which to invest or for which to approve loans.

Kindred Credit Union

Kindred Credit Union in Waterloo, Ontario partnered with the Waterloo Region Community Foundation to launch an Affordable Housing Guaranteed Investment Certificate (GIC) with a competitive rate for Kindred’s members. The deposits are earmarked to support lending for long-term, owned or rented permanent affordable housing in the community.

Transitional Housing + Supportive Housing

Through the Affordable Housing Program (AHP) grant process, Safe Harbour Credit Union was able to help a local organization bridge the funding needed to address the rising costs of construction in the Village of Shelby, Michigan to complete the Shelby Trails Apartments, a supportive, affordable housing complex designed to house people with disabilities, or those who have experienced homelessness or domestic violence.

Homelessness (or unhoused) + Emergency Shelters

Coast Central Credit Union identified the need to serve the homeless in the community and partnered with the the Federal Home Loan (FHL) Bank of San Francisco to use the Access to Housing and Economic Assistance for Development (AHEAD) Grant Program to provide a grant to the Arcata House Partnership, a non-profit organization that provides a number of critical services from meals to permanent housing to people who are homeless in Humboldt County, California.