Whether it’s an apartment in the city, a condo in the suburbs or a house in the country, home is where memories are made.
In celebration of National Homeownership Month in June, we’re reflecting on the ways Associated Bank and its colleagues make homeownership dreams a reality for many across our footprint. From first-time homebuyer workshops and grants to community fundraisers and housing builds/repairs, homeownership has been a major focus of our company’s philanthropic efforts from the beginning.
“An individual’s ability to achieve homeownership can have a direct influence on their financial wellbeing and the stability of our communities,” said LaDonna Reed, director of community accountability, Associated Bank. “According to The Fannie Mae national study, 83% of Americans believe owning a home is a solid investment, yet the homeownership rate is 65%. Through Associated Bank’s programs and support, we can help bridge the gaps for these individuals and make their dreams a reality.”
Associated Bank’s first-time homeowner workshops target primarily low- to moderate-income (LMI) individuals to help them make smart decisions about one of life’s biggest purchases. Our mortgage programs—like CARE and PATH—get them one step closer to the final sale. In addition, our charitable grants and colleague volunteerism with housing organizations help deliver important services that make our community impact even greater.
Many of the nearly 40 housing organizations these initiatives support are long-term partners of Associated Bank, including:
- Habitat for Humanity – Helps people in our communities and around the world build or improve a place they can call home.
- Rebuilding Together – Focused on preserving affordable homeownership for veterans, seniors and people with disabilities, and revitalizing neighborhoods through free home repairs and modifications.
- Housing Resources, Inc. (HRI) – Dedicated to helping LMI individuals and families in the Milwaukee area purchase and maintain their own homes.
“As part of our 2021-2023 Community Commitment Plan, Associated Bank has committed to provide $2.4 billion in residential mortgages for one-to-four unit and single-family properties to low- to moderate-income customers and communities across our footprint,” said Reed. “Additionally, we’ve committed $15 million in grant support to help LMI borrowers with down payment and closing costs to help alleviate the cost some consumers face when purchasing a home.”