OLYMPIA, Wash.– Amid a surge in mortgage volume and with the Spring buying season here, WSECU said it will donate up to $100,000 to Habitat for Humanity of Washington State, donating $500 for every new purchase first mortgage loan closed through July 31.
The credit union said Washington’s competitive housing market and the changing conditions that now support work-from-anywhere mean many prospective home buyers are on the hunt for new houses.
“To help its members achieve the goal of home ownership, WSECU is redoubling efforts to help educate prospective buyers of their options, with special content for first-time homebuyers,” said WSECU, noting its own offerings include traditional fixed rate loans, as well as jumbo loans and $0-down loans for qualified applicants.
In addition to helping members who are in the “fortunate position to buy a house,” WSECU said it also wanted to support expanding home ownership to the greater community, which is the reason for the partnership with Habitat.
Helping Families
“As a cooperative, we’re here first to support members and help them achieve their dreams of a new home,” said Ann Flannigan, VP-public relations. “At the same time, we felt it was fitting to help others in the community get into homes, too; neighbors who may be at a different stage of their financial stability. Some can do that with the support of Habitat for Humanity, which has a great track record of helping families achieve home ownership that might otherwise not be able to.”
WSECU said its community commitment is built into the formula of the credit union’s annual financial planning, and that each year it sets aside 4% of its net income to give back to nonprofit organizations and education institutions. In 2019, that led to more than $1 million being invested in programs and activities across Washington. In 2020, the credit union’s commitment was nearly $800,000 despite the uncertainty of a year impacted by the effects of the global pandemic.
Holding the Door Open
“We embrace the idea of when you do well, reach back and hold the door open for the people that are coming behind you,” Flannigan said. “That’s part of what we’re trying to do here: Help members with their mortgage loan needs and invest support in Habitat for Humanity to make the dream of a home a reality for more community members.”
Flannigan added that she believes borrowers will be delighted by the added component of knowing their purchase mortgage loan can generate a $500 donation to a worthy cause.