Affordable Housing
New development development financed by Washington credit unions
October 2, 2024
GoWest Credit Union Association
The region’s credit unions take a bold, innovative, and forward-thinking approach to improving lives of their members.
Four member-owned credit unions – BECU, Sound Credit Union, Verity Credit Union, and WSECU– have partnered with Evergreen Impact Housing Fund to support the Copper Way housing development that will provide 256 affordable apartment units to working families in Pierce County. .
Together, the credit unions contributed $9 million to the development, and this is the second project they have financially supported through EIHF. The Copper Way opening celebration will not only celebrate the completion of the development, but also the dedication that credit unions have towards serving their community and the significant step towards providing more affordable housing in the Puget Sound.
Investments in innovative funding solutions and unique private-public partnerships prove that affordable housing for families is possible in the Puget Sound Region. The Evergreen Impact Housing Fund is proud to demonstrate this through the third project opening – 80% of units in the Copper Way apartments in Spanaway are two-bedrooms and above, addressing the common challenge of inadequate space in metropolitan affordable housing. Partners including the Washington State Housing Finance Commission, BECU, Sound Credit Union, Verity Credit Union, Washington State Employees Credit Union, and Inland Group, have all come together to show the power of cross-sector capital.