SAN FRANCISCO – Three area credit unions will share $345,000 in WISH and IDEA affordable housing grants awarded by the Federal Home Loan Bank of San Francisco.
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Meriwest CU won $195,000 in Workforce Initiative Subsidy for Homeownership, or WISH, funds that will be used to subsidize down payments and closing costs for eligible home buyers. Yolo FCU won $75,000 in WISH money and Travis CU $60,000.
Travis CU also won $15,000 from the FHLB’s Individual Development and Empowerment Account, or IDEA program, which provides matching grants to eligible home buyers who maintain an Individual Development Account with the credit union.
The FHLB awarded a total of $6.6 million in WISH funds and $1.4 million in IDEA funds to 28 member institutions.
