Submitted by WSECU
Extended time at home has led more people to pursue a new place to call home. Amid record mortgage volumes, WSECU is extending support for homebuyers – and a helping hand to others – as spring home buying season takes off. Today the credit union announced it will donate up to $100,000* to Habitat for Humanity of Washington State by donating $500 for every new purchase first mortgage loan closed through July 31, 2021.
Washington’s competitive housing market and the changing conditions that now support work-from-anywhere mean many prospective home buyers are on the hunt for new houses. To help its members achieve the goal of home ownership, WSECU is redoubling efforts to help educate prospective buyers of their options, with special content for first-time homebuyers. WSECU’s own mortgage offerings include traditional fixed rate loans, as well as jumbo loans and $0-down loans for qualified applicants.
In addition to helping members who are in the fortunate position to buy a house, WSECU wanted also to support expanding home ownership to the greater community. Not everyone can afford to purchase a home and that’s where organizations like Habitat for Humanity play such a critical role.
“As a cooperative, we’re here first to support members and help them achieve their dreams of a new home,” said Ann Flannigan, vice president of public relations. “At the same time, we felt it was fitting to help others in the community get into homes, too; neighbors who may be at a different stage of their financial stability. Some can do that with the support of Habitat for Humanity, which has a great track record of helping families achieve home ownership that might otherwise not be able to.
WSECU’s community commitment is built in to the formula of the credit union’s annual financial planning. Each year the institution sets aside 4 percent of its net income to give back to nonprofit organizations and education institutions. In 2019, that led to more than $1 million being invested in programs and activities across Washington. In 2020, the credit union’s commitment was nearly $800,000 despite the uncertainty of a year impacted by the effects of the global pandemic.
“We embrace the idea of when you do well, reach back and hold the door open for the people that are coming behind you,” Flannigan said. “That’s part of what we’re trying to do here: Help members with their mortgage loan needs and invest support in Habitat for Humanity to make the dream of a home a reality for more community members.”
WSECU’s trusted expertise and advice along with competitive rates and mortgage loan products present compelling reasons to choose the credit union for help in buying a home. Flannigan added that she believes borrowers will be delighted by the added component of knowing their purchase mortgage loan can generate a $500 donation to a worthy cause.
Habitat for Humanity of Washington State is dedicated to eliminating substandard housing through constructing, rehabilitating and preserving homes; by advocating for fair and just housing policies; and by providing training and access to resources to help families improve their shelter conditions. Habitat for Humanity was founded on the conviction that every man, woman and child should have a simple, durable place to live in dignity and safety, and that decent shelter in decent communities should be a matter of conscience and action for all.