Bank / Credit Union

Tri Counties Bank, FHLBank deliver $2.1M to affordable housing

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September 7, 2022

Tri Counties Bank has delivered $2.1 million in grants to three organizations with the Federal Home Loan Bank of San Francisco's Affordable Housing Program General Fund, according to a press release.

The bank nominated Collier Avenue, Piper Way Senior Housing and Siskiyou Crossroads for the AHP grants. In order to be eligible for a grant, organizations must demonstrate a need for subsidy. In addition, rental housing projects must reserve at least 20% of their units for households at or below 50% of the HUD area media income, while owner-occupied housing projects must serve households at or below 80% AMI.

The organizations will use the grants to create 149 affordable housing units to those earning less than 60% AMI.

"We congratulate Tri Counties Bank for submitting successful AHP applications for these very important affordable housing developments," Marietta Núñez, SVP and community investment officer at FHLBank San Francisco, said in the release. "We are proud to partner with members, like Tri Counties Bank, to support organizations on the ground who are working to address pressing affordable housing needs in local communities."