Associated Bank is proud to partner with ACTS Housing and contribute $50,000 in rehab grants, which helped 17 families purchase and renovate foreclosed homes in the City of Milwaukee during 2016 and further strengthen neighborhoods.
“Associated Bank is committed to providing support to non-profit organizations that help create strong and healthy communities where we live and serve,” said Jill Wiess, corporate social responsibility manager at Associated Bank. “Our continued partnership with ACTS Housing allows us to help people achieve their dream of home ownership, which has a far-reaching, positive impact in Milwaukee.”
Together, Associated Bank and ACTS Housing are helping diverse families throughout Milwaukee’s inner city to purchase and rehab vacant or foreclosed homes. The rehab costs are usually less than the cost for demolition and the new owners may save hundreds of dollars on their monthly housing costs. Following are some examples of new homeowners we have helped over the past year:
- Esperanza is a single mother of three children who paid $26,600 to purchase and rehab her home (not including loans and grants). She saved $600 switching from renting to owning a home.
- Sherri and her husband spent $28,600 on the purchase and rehab of their home (not including loans and grants) and saved $298 on their monthly housing costs.
- Nicacia and Adelfo spent $37,300 to purchase and rehab their home (not including loans and grants) and now pay $595 for monthly housing costs for their family of five.
- Anthony spent $25,900 to purchase and rehab his home (not including loans and grants). He saved over $240 monthly switching from renting to owning.
Michael Gosman, executive director of ACTS Housing, said “We are very thankful to have Associated Bank as a partner in the work ACTS families are doing to revitalize their communities. In addition to the Associated Bank champions who support our work and advocate for families, the financial support from Associated Bank has helped families on their journey from renter to owner.”
Associated Bank volunteers its expertise and designates 1% of annual pretax profits for charitable purposes, with the majority of that total supporting CRA-qualifying contributions. In 2016, Associated provided $2.6 million in CRA-qualifying contributions to various nonprofit organizations.