In 2019, Canopy Credit Union, based in Spokane, Washington, received a Workforce Housing Planning grant from the Northwest Credit Union Foundation. The credit union partnered with Strategic Research Associates to use the grant dollars for community focus groups, which examined renters’ needs and the needs of affordable housing agencies. After assessing opportunities for innovative financial services, Canopy launched a rental assistance loan to help members in low-income and underserved communities in the Spokane area. When the pandemic hit, Canopy recognized a shift in member and community needs and decided to act by refocusing its grant dollars. Working with NWCUF, Canopy allocated leftover funds to a new emergency loan program that offered assistance to members facing COVID-19-related financial hardship. “Now more than ever, safe affordable housing is a critical need in our community,” said Charlotte Nemec, President and CEO of Canopy. “We…Read more »
Security Deposit Loan Pilot
A collaboration with 3 Portland credit unions who identified a low interest loan product to overcome financial barriers to inflated rental and moving costs in their community. If you would like to connect with NWCUF on this pilot project, please submit your interest below.