BOSTON – Fourteen credit unions in Massachusetts, Rhode Island and Vermont will share more than $500,000 in funds from the Federal Home Loan Bank of Boston to help them provide matching homeownership grants for low-income members.
The Boston FHLB awarded $3.3 million in Equity Builder grants to 88 banks and credit unions to be used for matching grants to help low-income borrowers offset down payment and closing costs. Eligible borrowers must earn 80% or less of the area’s median family income.
The credit unions winning the grants were: in Massachusetts, Athol CU, Greylock FCU, HarborOne CU, Medical Area FCU, Metropolitan CU, Milbury FCU and St. Mary’s CU; in Rhode Island, Coastway CU and Columbus CU; and in Vermont, Heritage Family FCU, New England FCU, NorthCountry FCU and Opportunities CU.
