Dow Credit Union & Habitat for Humanity partner to secure nearly $130k for local homeowners in need

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.” 

ABOUT DOW CREDIT UNION:  

Dow Credit Union is a not-for-profit financial institution owned by its members and dedicated to being a multiplier for good. Located online and in Michigan’s Great Lakes Bay Region, the credit union has more than $2.3 billion in assets and 82,000 members across all 50 states. Dow Credit Union members enjoy lower rates on loans, higher rates on deposits and convenient anywhere banking powered by leading-edge technology to ensure privacy and security that have been recognized multiple times by America’s Credit Unions for top performance in saving members money. For more information, visit dowcreditunion.org. 

ABOUT HABITAT FOR HUMANITY:  

Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort on a community farm in southern Georgia. The Christian housing organization has since grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Midland County Habitat for Humanity was established in 1988 and build their first single family home in 1989. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit midlandhabitat.org.