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Community Programs

The Bank's community programs reflect our long-standing commitment to fostering strong, stable, and sustainable communities and providing funding for projects that create an affordable place to live for low-income and moderate-income families, seniors, persons with disabilities, veterans, young people transitioning out of the foster care system and other at-risk youth, people with disabilities, individuals struggling to overcome addiction, and homeless men, women, and children.

Our member financial institutions use our targeted grant and discounted credit programs to meet a wide range of affordable housing and economic development needs in Arizona, California, Nevada, and the other regions where they do business.

Grants for Housing

Affordable Housing Program (AHP)

Each year, we contribute 10% of our net income for the preceding year to the AHP. The majority of the funds are awarded through a competitive application process and used by members to help finance the development, acquisition, or rehabilitation of rental and owner-occupied multifamily and single-family housing for families and individuals earning up to 80% of the area median income. A portion of the Bank's AHP funds are set aside for our homeownership programs for very low-, low-, and moderate-income first-time homebuyers.

Rental and Owner-Occupied Projects
Competitive Affordable Housing Program
AHP grants can be used to support a wide range of rental or owner-occupied projects, from historic preservation and adaptive reuse to new construction and rehabilitation and sale of foreclosed homes. Bank members submit applications for these grants in partnership with community-based affordable housing project sponsors.

First-Time Homebuyer Programs
Our homeownership programs offer grants of up to $15,000 that can be used for downpayment and closing costs, matching $3 for every $1 contributed by the homebuyer toward the purchase of a home.

Individual Development and Empowerment Account (IDEA) Program 
Targeted to first-time homebuyers saving to buy a home through an Individual Development Account or by participating in a Family Self-Sufficiency or lease-to-own program.

Workforce Initiative Subsidy for Homeownership (WISH) Program
Targeted to first-time homebuyers who are ready to make the transition from renting to owning.

Grants for Economic Development and Housing

Access to Housing and Economic Assistance for Development (AHEAD) Program
Made to Bank members working with local community organizations, AHEAD grants offer early-stage funds to support the efforts of members to give a critical, early boost to targeted economic development projects and non-AHP-eligible housing initiatives that create or preserve jobs, facilitate improvements to public or private infrastructure, or deliver social services, training or education programs, or other services and programs that benefit lower-income neighborhoods.

Credit for Housing and Economic Development

Bank members use our discounted credit programs to help finance affordable housing and economic development and community revitalization activities.

Community Investment Program (CIP)
CIP supports our members' community-oriented mortgage and community development lending by providing lower lower-cost funding for affordable housing development and community revitalization activities.

Homeownership Preservation Advance (HPA)
Members can use the lower-cost funding HPA provides to offer eligible homeowner lower monthly mortgage payments, new fixed rate loans, or reverse mortgages that can help them avoid foreclosure.

Standby Letters of Credit
Members can use discounted Standby Letters of Credit from the Bank for a variety of third-party transactions to support certain community lending purposes, including financing low-income rental housing activities.

Advances for Community Enterprise (ACE)
Members can use lower-cost ACE credit for projects and activities that result in jobs, services, or other benefits for low- to moderate-income households and communities.