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Cornerstone League recognizes member credit unions’ news about their growth, expansion, and community endeavors to exemplify the “people helping people” philosophy.
Five CUs collaborate in housing model to build affordable homes in Austin
The credit unions donated $100,000 to fund the house and will volunteer hundreds of man hours to help build.
Read time: 2 minutes, 16 seconds
Five Austin credit unions and their local chapter are joining forces to build a house for Austin’s Habitat for Humanity, christened the House That Credit Unions Built.
The CEOs of Greater Texas Credit Union, Howard Baker (far left) and
Michael Crowl from UFCU (in white) participated in the wall raising of the
House that Credit Unions Built, which kicked off the collaborative building
project for Austin Habitat for Humanity.
Employees from A+ Federal Credit Union, Austin Telco Federal Credit Union, Greater Texas Credit Union, University Federal Credit Union, Velocity Credit Union, and the Austin Chapter of Credit Unions will be involved in the hands-on construction work on a weekly basis until the house is complete. Employee volunteers will work alongside the experienced construction crew from Habitat for Humanity and the future homeowner to build the 1,578-square-foot, four-bedroom, single-family home. The home will be built on Blakely Bend along U.S. 183 on Austin’s east side.
The credit unions are also collectively underwriting the building of the House that Credit Unions Built, contributing $100,000 toward the cost of construction.
The idea for the House that Credit Unions Built was born in 2020 by University Federal Credit Union. Leveraging the cooperative spirit of credit unions and the “people helping people” philosophy of the movement, UFCU enlisted other credit unions to partner and build a home to help a family realize the American dream of homeownership.
UFCU CEO Michael Crowl said, “UFCU focuses on empowering people to achieve financial success and brighter futures. We are proud of our partnership with Austin Habitat for Humanity and future homeowners to make their dreams a reality, one home at a time.”
This is the fourth house these credit unions have built for Austin Habitat for Humanity. The collaboration models the servant leadership that embodies credit unions and their employees. The purpose of the House that Credit Unions Built is to be a part of the solution to Austin’s affordable housing crisis and to help fulfill the dream of homeownership.
Amid skyrocketing housing prices in Austin, Austin Habitat for Humanity is building affordable housing for Austin school district employees and families with children in the district. As part of a partnership with Taylor Morrison, a national homebuilder, and developer, the organizations will build a total of 30 homes for AISD employees and families at two developments.
“Austin has become one of the least affordable cities in the U.S.,” said Howard Baker, CEO of Greater Texas Credit Union. “Affordable housing is fundamental to improving family stability, building a strong workforce, and maintaining a vibrant community, yet skyrocketing home values are driving good people and families away.”
Baker added, “These people are essential hard-working Americans: teachers, first-responders, restaurant employees, construction workers, and many others that are an important part of the fabric of Austin.”
The coalition of credit union employees will work on-site each Thursday through December when the house is scheduled to be finished.
B-roll footage from the wall raising of the House that Credit Unions Built is available for download here.
Employees from A+FCU, Austin Telco, Greater Texas, University FCU,
and Velocity CU worked together to build the first wall for the House
That Credit Unions Built benefiting Austin Habitat for Humanity.
