NORTH LIBERTY, Iowa — Many Iowans are enjoying this holiday season in a new home, thanks to a goal set by GreenState Credit Union to invest $1 billion in mortgage lending to help close the racial homeownership gap.
The North Liberty-based GreenState – with Quad Cities locations in Bettendorf and Davenport – announced in a news release Thursday, Dec. 7, that it has surpassed the halfway mark of its ambitious 10-year goal.
Dubbed the H.O.M.E. Program (Helping Originate Minority Equity), GreenState has successfully assisted a total of 3,190 families in securing mortgage loans, amounting to more than $532 million in mortgages for Iowans of color.
Helps with down payment
In addition to modifying the loan approval process to make these loans more accessible, the GreenState Foundation provided more than $980,000 in down payment assistance grants to those who qualify. By offering this additional support, GreenState is helping to build stronger communities across the state, the release stated.
“We are thrilled to celebrate the incredible milestone for our communities,” said Ryan Doehrmann, chief mortgage officer of GreenState Credit Union. “This achievement is a tribute to the dedication and hard work of our team, as well as the invaluable support from our community partners.”
He added “We remain committed to our goal of making homeownership a reality for even more Iowans in the years to come, helping families build equity and generational wealth.”
GreenState is Iowa’s largest credit union and one of the top U.S. financial institutions for returning profits to members. They come in the form of better rates and lower fees, the institution said.
It serves more than 447,000 members with 33 branch locations. Membership is open to anyone living or working in Iowa as well as select counties in Illinois, Wisconsin, Nebraska and South Dakota. For more information or to become a member, visit www.greenstate.org.
