FHLBank Chicago and WHEDA Allocate $13M to Boost Housing Counseling in Wisconsin
Event summary
- FHLBank Chicago and WHEDA recognized three Wisconsin organizations receiving grants through the Community First® Housing Counseling Resource Program (HCRP).
- Since 2022, the HCRP has awarded $13M to strengthen housing counseling across Illinois and Wisconsin, supporting 105,000 households and nearly 9,000 homeowners.
- The program helps agencies provide financial education, credit preparation, and homebuyer education to prospective and current homeowners.
- Acts Housing, Housing Resources Inc., and United Community Center will use the funding to enhance housing counseling services in the Milwaukee area.
The big picture
FHLBank Chicago's HCRP is part of a broader trend among financial institutions to invest in housing counseling as a means to expand homeownership opportunities. The program aligns with industry efforts to address affordability barriers and financial preparedness, leveraging partnerships with state housing authorities to amplify impact. With $13M allocated since 2022, the initiative underscores the growing role of cooperative models in supporting sustainable homeownership.
What we're watching
- Program Scaling
- Whether the HCRP can sustain its growth pace and impact as it expands to more agencies and households.
- Homeownership Trends
- How the program's support affects homeownership rates in Illinois and Wisconsin, particularly in urban areas like Milwaukee.
- Partnership Dynamics
- The effectiveness of FHLBank Chicago's collaborations with WHEDA and IHDA in addressing regional housing challenges.
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