FHLB San Francisco Awards $2.2 Million In Affordable Housing Grants To CUs

Published June 01, 2009, 5:21 p.m. EDT

Updated August 27, 2020, 12:38 a.m. EDT

1 Min Read

SAN FRANCISCO – The Federal Home Loan Bank of San Francisco awarded 42 affordable housing projects a total of $30.3 million in grants yesterday, including $2.2 million for projects headed by Mission FCU and Altura CU.

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Mission FCU, in San Diego, received a $1.5 million grant to develop a 150-unit low-income rental property in San Diego at 15^th and Commercial. The $1.5 million grant is the largest awarded by the Bank.

Altura CU, based in Riverside, received $670,000 to develop the 49-unit low-income San Felipe Migrant Housing Project in the city of Thermal.

This round of affordable housing grants by the San Francisco Bank will help develop a total of 2,558 low-income units in California, Arizona, Illinois, Nevada, Texas, and Washington.

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