Credit unions throughout the region continue to focus on workforce housing hurdles within their communities, creating products, services, and partnerships that are directly tackling…Read more »
The Northwest Credit Union Foundation Opens Grant Opportunity for Workforce Housing
The Northwest Credit Union Foundation is continuing its work with credit unions across the region that are tackling workforce housing issues in their communities.
This fall, NWCUF awarded several planning grants to credit unions seeking to identify their members’ challenges and barriers to accessing affordable housing options. Now, the Foundation is preparing to award its next round of grants this spring to credit unions that are planning to implement housing-solution programs that will make significant impacts on their members’ and ultimately their communities’ financial health.
For this grant opportunity, the Foundation has committed $500,000 in grant awards to address workforce housing in 2019. All Northwest Credit Union Association member credit unions are eligible to apply for the grant opportunity to serve communities in Idaho, Oregon, and Washington. Grant awards of up to $100,000 will be given to support the implementation of project plans that provide innovative, replicable, and/or scalable solutions to workforce housing.
NWCUF defines workforce housing as housing that is affordable to workers and close to their jobs; and that is affordable to households earning 60 to 140 percent of the area median income. Workforce housing can include homeownership as well as rental housing, ensuring that housing costs are no more than 30 percent of household income.
“Credit unions are uniquely positioned to make positive impacts on workforce housing issues in their communities,” said NWCUF Executive Director, Sharee Adkins. “The Foundation is excited to support credit unions as they implement innovative solutions to decrease the housing burden felt by their members.”
All NWCUA member credit unions are encouraged to apply, including those who did not apply for the first round of planning grants. To get the process started, the Foundation asks that credit unions interested in applying for the grant opportunity submit their interest by Jan. 30 to Claire Hendrix, NWCUF Program Director, or on the NWCUF website.
Please visit the NWCUF website to access the Grant Interest Form, the Request for Proposals, and the application.
Workforce housing project applications are due by March 8. Grant recipients will be announced by the beginning of May. NWCUF staff is available during the application window to answer any questions or provide additional information or resources.