Midland, MI (July 23, 2024) |
Dow Credit Union and Midland County Habitat for Humanity have secured nearly $130,000 in grants – issued by the Federal Home Loan Bank of Indianapolis (FHLBI) under its Neighborhood Impact Program – on behalf of ten local homeowners.
"Each year, I’m amazed at the results of our work with Midland County Habitat for Humanity," Dow Credit Union CEO Michael Goad said. "We are proud to have doubled the total dollar amount of the grants we secured in 2023. The impact of our collaboration this year is proof that together we can help our neighbors and positively impact our community.”
Under the Federal Home Loan Bank Act, institutions like the FHLBI are required to help "meet the credit needs of communities in which they do business," resulting in public financial assistance programs. The FHLBI works through local member institutions, like Dow Credit Union, to source potential beneficiaries and coordinate support within their communities.
Midland County Habitat for Humanity selected ten households that qualified for the Neighborhood Impact Program, which assists low- to moderate-income homeowners that fall within 30-60% of the Area Media Income (AMI) with critical home repairs. The grants cover up to $15,000 in needed repairs for each individual homeowner. This summer, the scheduled projects include full roof replacements, installation of new doors, replacement of decks and porches, and smaller projects like staining, painting and landscaping.
“Without Dow Credit Union’s partnership, we would not have been able to secure the grant funding to serve these homeowners,” Midland County Habitat for Humanity President Jennifer Chappel said. “Dow Credit Union not only supports Habitat in securing these grant funds, but the credit union also encourages its employees to volunteer time to make a difference in the lives of our community members.”
Earlier this year, Midland County Habitat for Humanity’s Homeowners Services Manager Katty Owens worked with the credit union's mortgage department on the applications. Mortgage Sales Manager Kris Brozzo and Mortgage Loan Officers Lisa Hartley, Sean Haney and Sheryl Thirkill submitted detailed proposals outlining the qualifying homeowners’ specific circumstances. The applications were then reviewed by the FHLBI.
"We look forward to working with Midland County Habitat for Humanity to submit the grant applications each year," Brozzo said. "Seeing how our efforts are making such an immediate and positive impact in our community is very rewarding."
The home repair projects kicked off earlier this month as volunteers began preparing for the weeklong Habitat for Humanity Rock the Block event during which most of the projects were completed. Once finished, Dow Credit Union will work alongside Habitat for Humanity to inspect the work and report project success back to the FHLBI.
“I feel like there is a broad understanding of the work we need to do together to make this a successful region. Every day I meet people who want to pay it forward to community members who are struggling. I meet more givers than takers," Goad said. “We are pleased to be a doorway for these funds into our region and play a small part in helping local families address critical needs in their homes.”
Home repair projects completed with nearly $130,000 in grants coordinated by Dow Credit Union and Midland County Habitat for Humanity, such as this updated porch and railings, addressed critical health and safety issues for local homeowners.