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Workforce Housing
Increasing access to housing to relieve the financial burden of the workforce

Increasing access to housing to relieve the financial burden of the workforce

As housing costs continue to rise across the Northwest, credit unions throughout the region are working with local business and community partners to design innovative solutions to this challenge. We support credit unions and their partners who are committed to alleviating the housing burdens facing their workforce – those who fall within 60 to 140 percent of the area medium income (AMI). We do this in a number of ways, including:

  • Supporting credit unions with project development;
  • Providing project implementation funds;
  • Fostering community collaboration;
  • Leveraging credit union partnerships;
  • Identifying resources; and
  • Promoting targeted approaches to solving the housing problem.

Examples of how credit unions are impacting the workforce housing market:

  • Financing alternative housing types: Credit unions are creating opportunities for their members to access financing for accessory dwelling units such as backyard cottages, detached garage apartments, and mother-in-law suites, tiny homes, and prefabricated homes in communities that do not have restrictive ordinances for alternative housing options.
  • Financing local landlord 1-4 projects: Credit unions are providing conventional financing options for individuals or small businesses looking to construct duplexes, triplexes, or quadplexes instead of commercial lending to developers.
  • Rural rehabilitation financing or loan fund: Credit unions are serving rural areas by creating a loan fund or financing to rehabilitate or renovate older housing units.
  • Private market rental security deposit loans: Credit unions could provide low-interest loans over the course of a rental lease to decrease barriers of access to an inflated housing market with steep security deposit fees.


Deployed to support credit union workforce housing projects

“We know that to have a thriving local economy over the long term, working families need access to stable and affordable housing,” says Kevin Cole, executive VP of Mid Oregon Credit Union. “By helping property owners obtain the financing they need to develop and increase rental properties, we can make a significant contribution toward increasing the supply of local affordable housing.”

Get Involved

Interested in Housing?

Interested in Housing?

We invite all Northwest credit unions interested in our Workforce Housing efforts to submit information below. This is an issue facing communities across the region. We are available to discuss opportunities and potential solutions for your community and member needs.


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