affordable housing

CIT Provides $55 Million to Jumpstart Two Affordable Housing Developments for Homeless Vets and Families

Press Release

PASADENA, Calif., June 27, 2019 /3BL Media/ - CIT Bank, N.A., the banking subsidiary of CIT Group Inc., today announced a total community investment of $55 Million in support of two East LA Community Corporation (ELACC) affordable housing developments, El Nuevo Amanecer and Rosa de Castilla.1 Together, the complexes will provide 146 units once completed, including 80 units of permanent supportive housing for homeless veterans and 42 units for low-income families.

There’s No Place Like the Home Next Door

When they were kids, siblings Kenneth and Leah Martinez loved their elderly next-door neighbors like extended family. Years later, they are now the proud owners of the house next door, with help from Wells Fargo’s NeighborhoodLIFT® program.
Article

In his teen years, Kenneth Martinez would often drive home after school, pull into his driveway, and see a familiar sight next door: His elderly neighbor, sitting in the shade of an old tree, waving at him.

He’d usually chat with the kindly gentleman, talk about their suburban Los Angeles neighborhood, and share a few laughs. The neighbor and his always-friendly wife were like extended family, and Martinez and his dad often helped them with their household needs.

'America Can’t Afford Unaffordable Housing’

Wells Fargo leads a national panel on housing affordability and homelessness; author Antwone Fisher’s story puts a personal face on the growing crisis.
Blog

Amid a round of recent news about the increasing problem of homelessness in America, Jon Campbell appeared before a standing room-only audience of affordable housing advocates to call for renewed efforts to address the crisis.

“I think the headline for all of this should be, ‘America can’t afford unaffordable housing,’” he said, as the crowd applauded. “I really believe that’s the headline. And if we can all take that mantra forward from this place, we’re really going to make progress.”

Making a Greater Community Impact

Wells Fargo is concentrating its philanthropic power to help solve three critical issues: housing affordability, financial health, and small business growth.
Blog

Wells Fargo is evolving its philanthropic strategy to help solve three pressing issues affecting individuals, families, and underserved communities across the U.S. — housing affordability, financial health, and small business growth — the company announced June 5.

Wells Fargo to Donate $1 Billion to Address Housing Affordability Crisis

New philanthropic strategy to benefit underserved communities through housing, financial health and small business programs; $20 million challenge grant aims to accelerate solutions for U.S. housing needs
Press Release

SAN FRANCISCO, June 8, 2019 /3BL Media/ Wells Fargo today announced an evolution of its philanthropic strategy to help address three critical issues affecting underserved communities: housing affordability, financial health and small business growth.

Affordable Housing for Everyone

Blog

With the rapid development and change we are experiencing in cities and communities, the cost of living is increasing. This is leading to unaffordable and unstable housing situations, which can go hand-in-hand with financial instability, especially when a large chunk of your paycheque goes to housing.

Values-Based Banking – Vancity’s Answer in Uncertain Times

Article

May 15, 2019 - A financial institution that only makes money by moving it around achieves very little of value beyond generating profits. Vancity is different. With its values-based banking model, Vancity is perfectly placed to support its members through uncertain times. Canada’s largest community credit union’s ninth integrated annual report, Navigating change, building community – explains how. It can be viewed at annualreport.vancity.com.

A Housing Lift for Those Who Protect and Serve

From firefighters and police officers to veterans, hundreds of first responders across the U.S. have become homeowners with help from Wells Fargo’s NeighborhoodLIFT® program.
Blog

From the first time he set foot in a fire station, David Budd felt like he was home. As a boy, he had fallen in love with the idea of being a firefighter and spent years working to become one. It was a proud moment when he eventually landed a full-time job as a first responder.

But that was nothing compared to the day he walked into his first home as a homeowner, said the 23-year-old native of suburban Charlotte, North Carolina.

Philanthropic Investors Tap “Catalytic Capital” to Seed Innovation & Scale Progress

Article

by Debra Schwartz Managing Director, MacArthur Foundation 

Often, the most compelling impact investments are made, not found.

I have used that phrase over the years to describe how foundations and other impact-focused investors use “catalytic capital” to support social and environmental progress. These patient, flexible, “catalytic” investments are able to take on more risk and/or accept a lower return than commercial capital in order to finance gains that would not otherwise be possible.

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