The Westerly Community Credit Union (Westerly, RI) has been approved to participate in the Federal Home Loan Bank Equity Builder Program, and will receive up to $150,000 in grant money to be used by the Credit Union to help secure first time home ownership for low to moderate income households. Awards of up to $15,000 per eligible family will be available on a first-come, first-served basis until funds are exhausted. Households earning 80% of the area median income are eligible for this program.
In addition, Westerly Community Credit Union is also offering $575 off closing costs, as well as low fixed interest rates for first time borrowers.
Mike Lynch, Westerly Community Credit Union's Vice President of Lending recently stated, "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."
