El Paso CUSO Teams for Affordable for Student-Built Homes

EL PASO, Texas – The El Paso Affordable Housing CUSO, a collaborative of eight area credit unions, and Wells Fargo will be providing affordable mortgages to low- and moderate-income families under a new program launched last week by local development organizations. Under the unique program, students at El Paso Community College will build new homes, which will be sold to qualified buyers at below market prices. The home will be built at energy efficient Energy Star specifications, as determined by state and federal agencies. The program is being funded by the grants from the Wells Fargo Housing Foundation and the Meadows Foundation. Participants must take a two-part series of classes in financial literacy and home ownership. Participants in the El Paso Affordable Housing CUSO, which provides a variety of programs and services for the area’s low- and moderate-income families, are: Government Employees CU of El Paso, First Light FCU, West Texas CU, El Paso Area Teachers FCU, One Source FCU, El Paso Employees FCU, Mountain Star FCU and Golden Key FCU.