September 15, 2023
DES MOINES – The Iowa Finance Authority (IFA) and the Iowa Association of REALTORS® (IAR) recently recognized GreenState Credit Union, Veridian Credit Union and Community State Bank and their community partners through the Iowa Homeownership Incubator Pitch Competition. GreenState Credit Union won first place, receiving $20,000 to advance their efforts in advancing financial literacy around homeownership to Iowans with community partners, Veridian Credit Union, was awarded $10,000 and Community Savings Bank, was awarded $5,000 to advance their efforts.
“Homeownership benefits Iowans, communities and businesses alike,” said IFA Director Debi Durham. “This is why we’re pleased to host this competition to support the proactive and innovative efforts exactly like that of GreenState, Veridian Credit Union, Community State Bank and their community and employer partners as they work to advance financial literacy and homeownership across the state.”
The Iowa Homeownership Incubator Program challenged financial institutions and real estate companies to submit proposals for innovative financial literacy initiatives around homeownership. The proposals were required to include community partnerships and the promotion of IFA’s homeownership programs.
The three finalists pitched their initiatives to a panel of state and national industry leaders at the HousingIowa Conference and the panel of judges determined that all of the initiatives would be awarded funds to advance their efforts.
“Homeownership is the leading driver of economic security and wealth creation for Iowans,”
said IAR CEO Gavin Blair. “This is why we’re pleased to partner with IFA on the Homeownership Incubator to help open the pathway to more families, especially Iowans long locked out of this wealth-building opportunity.”
GreenState Credit Union has partnered with a multitude of organizations and nonprofits to advance financial literacy. Through the launch of their H.O.M.E. Loan and Grant Program along with providing financial literacy services, savings accounts and community partnerships, GreenState is working to make homeownership a reality for historically underserved populations.
Veridian Credit Union is implementing a “Driving Wealth Home” initiative which focuses specifically on closing gaps in homeownership, increasing financial empowerment, ensuring equal access to consumer lending and removing transportation barriers. Participating community partners include Iowa Heartland Habitat for Humanity, 24/7 BLAC, House of Hope, and the City of Waterloo Neighborhood Services.
Community Savings Bank has partnered with Corinthian Baptist Church Development Corporation, Polk County Housing Trust Fund and the Neighborhood Finance Corporation on their “Shining a Light on Homeownership Opportunity in Greater Des Moines” initiative. The focus of this partnership is on promoting homeownership programs and services within underserved communities, aiming to bridge the homeownership gap and create equal opportunities. This innovative approach to homeownership outreach includes introducing a novel outreach strategy using video to help financial institutions and local partners connect with the most underserved populations.
More information about the Iowa Homeownership Incubator is available at iowafinance.com.
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