PHOENIX – Desert Schools FCU announced that it has received a $1 million Affordable Housing Program grant from the Federal Home Loan Bank of San Francisco to finance construction of a 157-unit residential development for low-income families in Phoenix.
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Proceeds will directly benefit UMOM New Day Centers, a local non-profit agency providing homeless and low-income families with food, shelter and tools to build self-sufficiency. Founded in 1964, UMOM New Day Centers has grown to become the largest homeless shelter for the past 17 years for families in Arizona.
The grant was among $37.3 million in funding awarded so far this year by the San Francisco FHLB.
