First-time homebuyer program unlocks opportunities for underserved

There are so many great examples of the credit union difference put into action every day in credit unions across the country. The America’s Credit Unions Blog is a go-to source to find the latest information on trends, issues, and innovation in the credit union industry, including those stories of impact.  

A homeownership grant program launched by Greylock Federal Credit Union is featured in the latest blog entry. The Lift Up Homeownership program, funded by the Federal Home Loan Bank of Boston, provides up to $50,000 in forgivable down payment and closing cost assistance to first-time homebuyers of color. It’s estimated the full grant amount saves borrowers approximately $300 from their monthly payment.  

The blog explains how Greylock prepares for the FHLB’s twice-monthly funding window, and takeaways for credit unions looking to utilize this type of funding to address specific member needs.

Other recent blog entries include:

• Deseret First Credit Union is using lessons from the HR and Organizational Development Council Conference to create stronger employee engagement; and
• Creating a five-step plan to increase professional development opportunities at your credit union.

Check out the complete archive of America’s Credit Unions Blog and subscribe to the Industry Update newsletter here.