GoWest Foundation, Spokane Credit Unions Collaborate to Establish Washington’s First Land Bank for Low-Income Housing

Spokane land bank

In Spokane, Washington, the waiting list for low-income housing can be as long as three years. Collaboration between a group of the region’s credit unions, the Spokane Low Income Housing Consortium, and GoWest Foundation will help to ease that crisis. They’re establishing Washington’s

first-ever land bank, which will make property available for development of low-income housing.

The foundation, which works with credit unions in the six states served by GoWest Credit Union Association to accelerate community impact, has provided a $45,000 grant for the project.

“This initiative removes a significant barrier – upfront costs – for the development of low-income housing,” said Sharee Adkins, executive director, GoWest Foundation. “Through their collaboration and partnership with the consortium, Spokane credit unions are at the intersection of a critical need, and the solutions that will ultimately provide housing for people.”

Local credit unions, including STCU, brought the idea of the opportunity forward to the foundation and will partner closely with the consortium to secure additional funding.

“While there is no one solution to the challenges we face, the land bank is an important part of the puzzle,” said STCU President and CEO Ezra Eckhardt. “As a top local real estate lender in Spokane, we’re pleased to play a role in this important initiative.”

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