Last month, the Marine Credit Union Foundation launched its Finding HOME program. Finding HOME is a financial literacy program for credit-challenged borrowers that grants home loans to participants upon successful completion of program. The program brings to life the mission of the MCU Foundation and is free to participants.
In February, Marine hired Majel Hein as a Financial Literacy Counselor in La Crosse to develop a program to increase financial literacy and stability of individuals in the communities Marine Credit Union serves. Participants entering the Finding HOME program are unable to qualify for a mortgage with a traditional financial institution due to existing financial challenges. The program helps these individuals improve their current financial situation, achieve homeownership, and develop critical skills and knowledge to maintain financial stability.
The program will assess participants on a case-by-case basis and determine if they will be able to improve their financial situation enough for homeownership. Finding HOME will involve 12 -18 months of concentrated one-on-one financial counseling combined with classroom financial education for topics including:
1. Saving and budgeting
2. Understanding your credit score and credit report
3. Identify theft
4. Delinquency avoidance and management
5. Home buying education
6. Goal setting
7. Home maintenance and repairs
8. Money management
9. Supplementing your income
10. Financial products and services
Participants who graduate from the program are guaranteed access to a market-rate mortgage loan that fits their budget.
Interested households can set up an appointment by contacting Majel Hein at 608-791-1385 or Finding.HOME@MarineCU.com.
“We are excited to take the next step in helping individuals and families achieve and maintain financial wellness while providing the ultimate stability of homeownership,” Liz Popp, Executive Director of the MCU Foundation.