Washington, D.C (November 30, 2021) |
The Department of Labor Federal Credit Union (DOLFCU) has established a “First Time Home Buying” grant program that will award four households with $12,500 towards the down payment and closing costs to assist in the purchase of their first home. This program aligns directly with the credit union’s purpose of “being the foundation for financial success”.
Home ownership is a dream that many individuals in underserved communities feel is out of reach. “Over the past year we have had a focused effort to improve financial literacy and build a strong financial foundation for our members” said Thomas Domingue, President/CEO of DOLFCU. He adds that “through these efforts, we believe that we can help close the wealth gap in our society one member at a time, and this program is a significant step forward in that effort to help four of our credit union members build generational wealth by realizing their dream of home ownership. We are very excited about the opportunity to serve our membership with this program.”
Over the last two years, DOLFCU has provided members of their credit union with over $600,000 in dividends and returned nearly $160,000 in fees, as part of their focus on improving the financial well-being of their membership.