MAXX25: GoWest Execs Revisit 'Tucson Welcome Home' Program's Success One Year Later...

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​Sarae Bay, VP, Foundation at GoWest Credit Union Association, and Adelle Pomeroy, Foundation Program Director at GoWest Credit Union Association, joined us in the Studio Lounge to share the success of their "Tucson Welcome Home" program one year later.

The Tucson Welcome Home program consists of five local area credit unions and the GoWest Foundation offering zero down payment assistance and supporting individuals and families looking to transition from renting to owning their own homes. This means 100% financing for eligible borrowers in Pima County.

Sarae and Adelle talked about the innovative roles of credit unions in housing and their support for local businesses through the Washington Small Business Resiliency Loan Program. They also emphasized community growth, financial education, and outreach efforts, encouraging continued collaboration.

Q&A summary
What is the significance of the Tucson Welcome Home Program and how has it impacted the community since its launch?
The Tucson Welcome Home Program, launched in October last year, has funded 36 mortgages for first-time home buyers, totaling $10.4 million in loan originations. It offers 100% financing with no PMI or origination fees, making home ownership more accessible.
Can you explain how credit unions are collaborating to address housing issues?
Credit unions are collaborating to create innovative housing solutions, such as the Evergreen Impact Housing Fund, which opened a 275-unit apartment complex in Washington. This collaboration allows them to scale their impact and better serve their communities.
What are the key features of the Washington Small Business Resiliency Loan Program?
The program not only provides loans to small businesses but also helps build their credit. It has originated over 600 loans totaling over $10 million, and businesses that complete the program receive a matching grant equal to their loan amount.
How does the Small Business Resiliency Loan Program support businesses beyond just financial assistance?
The program includes wraparound services, such as classes on budgeting and business development, provided by credit unions in partnership with nonprofits, ensuring businesses receive comprehensive support.
What outreach efforts are being made by credit unions to educate young people about financial literacy?
Credit unions have reached 13,000 students through 130 financial education reality fairs this year, emphasizing the importance of financial literacy among young people.
What are the benefits of the 'Bite of Reality' program for students?
The 'Bite of Reality' program provides students with a hands-on experience of managing finances, helping them understand the implications of financial decisions in a real-world context.

Check it out and let us know your thoughts. And be sure to watch more Studio Lounge interviews from 2025 MAXX -- as well as support our host/sponsors: GoWest Credit Union Association, Tyfone, Zest AI, DDJ Myers, Cook Solutions Group, Backbone, and Despite Impossible podcast.