BANKING

WCCU receives grant for down payment assistance

THE WESTERLY Community Credit Union has received a $100,000 grant to help secure home ownership for low to moderate income households.
Posted 5/22/12

WESTERLY - The Westerly Community Credit Union has received a $100,000 grant to help secure home ownership for low to moderate income households.

On Tuesday the bank announced it had been approved to participate in the Federal Home Loan Bank Equity Builder Program, which included the grant.

The $100,000 will be distributed by the credit union. Awards up to $10,000 per eligible family will be available on a first-come, first-served basis until the funds are exhausted.

Households earning 80 percent of the area median income are eligible for this program, equal to $59,600 according to 2011-2012 U.S. Dept. of Housing and Urban Development median income limit for Rhode Island counties.

In addition, WCCU is also offering $575 off closing costs, as well as low fixed interest rates for first time borrowers.

“This is an opportunity to help those who may not otherwise have the means to purchase a home and we are excited to be participating in this program," Michael Lynch, WCCU vice president of lending, said in prepared remarks.

Questions relating to program should be directed to the credit union at 401-596-7000.

Calendar
PBN Hosted
Events

Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement