How five credit unions joined forces to tackle affordable housing

Credit unions have always been better cooperators than competitors. The joint investments of five Washington-based credit unions to the Evergreen Impact Housing Fund (EIHF) is a shining example of the “cooperation among cooperatives” principle in action.

The greater Seattle area is one of the country’s most expensive metro regions, and escalating housing costs make it hard for working-class consumers to live in the area. EIHF creates what it calls “catalytic investment opportunities” that make affordable apartment complexes more attractive to developers.

Jen Reed, VP of Public Relations at Sound Credit Union (a PixelSpoke client), joins us to tackle this month’s BIG question:

How can credit unions go beyond mortgage products and traditional charitable donations to help increase access to affordable housing in their communities?

 

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