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Travis Credit Union Receives Federal WISH and IDEA Grant Funds to Assist First-Time Homeowners

PRESS RELEASE, Travis Credit Union, April 8, 2014.

logofinal281VACAVILLE, CA – Travis Credit Union announced it has been awarded 2014 grant funds from the Federal Home Loan Bank to be disbursed to low-and moderate-income homebuyers within its twelve county service area.

Eligible first-time homebuyers may apply for up to $15,000 in matching grant funds to be used for the down payment and closing costs involved with purchasing their home. Under the WISH Program, FHLB will provide matching grants through Travis Credit Union up to $3 for every dollar contributed by the homebuyer toward a home purchase. The program is designed to help working households in high-cost areas purchase homes.

Additionally, Travis Credit union works with the Federal Home Loan Bank (FHLB) of San Francisco to offer the Individual Development and Empowerment Account (IDEA) program to low and moderate-income households. FHLB sets aside a portion of its annual Affordable Housing Program contribution to provide matching grants through Travis Credit Union for down payment and closing cost assistance to eligible first-time homebuyers who have saved under Individual Development Account (IDA) or Family Self-Sufficiency (FSS) programs. This program provides up to $15,000 for each household, matching up to $3 for each $1 saved by the homebuyer.

“I’m sure that every business in the community is glad to see programs like this so effectively help our neighbors, and we’re proud to be a small part of it,” said Patsy Van Ouwerkerk, president and CEO of Travis Credit Union. “Because we are a member of the Federal Home Loan Bank, we can provide the community with access to funds that can take their standard of living to the next level. This partnership allows us to build an even stronger community and we are committed to doing just that.”

Travis Credit Union is one of only two credit unions in California to receive grant funds for the WISH and IDEA programs this year.

Headquartered in Vacaville, California, Travis Credit Union is a not-for-profit, cooperative financial institution serving those who live or work in Solano, Yolo, Sacramento, Placer, San Joaquin, Stanislaus, Napa, Contra Costa, Alameda, Sonoma, Colusa, and Merced Counties. Currently, Travis Credit Union is the 12th largest credit union in California, with more than 161,000 members and more than $2.1 billion in assets. As one of the leading financial institutions in Solano, Contra Costa, Yolo, Napa, and Merced Counties, Travis Credit Union’s strength lies in its faithful commitment to its members; its solid, secure history; and its long-standing track record of dedicated service.

Contact:
Shérry Cordonnier, Director of Corporate Relations
Travis Credit Union, (707) 469-1715