Affordable Housing Projects Get CULifts

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SAN FRANCISCO - (06/01/05) -- Two credit union projects in Arizonawere among 49 projects in four states awarded Affordable HousingProgram grants by the Federal Home Loan Bank of San Francisco, theFHLB said Tuesday. The regional FHLB awarded $1 million to TempeSchools CU to help it build an 30-unit low-income project inPhoenix in partnership with the Guadalupe Community DevelopmentCorp.; and $600,000 to AEA FCU, in Yuma, Ariz., to build a 40-unitproject in San Luis, Ariz., in partnership with Comite de BienEstar, Inc. The FHLB grants will be used to leverage privatefinancing to build or renovate 3,056 affordable housing units inArizona, California, Nevada and Texas.

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