Whiteriver, Arizona – RealEstateRama – Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today it will help fund the second phase of the White Mountain Apache Housing Authority’s (WMAHA) Veteran Rideshare Program through use of the 2021 AHEAD Economic Development Grant Program (AHEAD Grant). The program will expand assistance to U.S Veterans currently living on the Fort Apache Indian Reservation without transportation to medical and other critical services by implementing the next stage and continuation of the WMAHA Transit System. Clearinghouse CDFI funded the initial program a year ago with a 2020 AHEAD grant.
“We are grateful to Clearinghouse CDFI and FHLBSF for their work and this grant which previously helped us install a transit system that is changing lives on the reservation and opening new opportunities for the Apache people living on the Reservation,” said Victor Velasquez, Executive Director of WMAHA. “We look forward to helping even more members with this year’s grant.”
The AHEAD Program is provided through The Federal Home Loan Bank of San Francisco (FHLBSF) and fosters early-stage funding of targeted economic development and housing projects. By way of membership with the FHLBSF, Clearinghouse CDFI sponsor projects through the AHEAD Program. These projects coincide with Clearinghouse CDFI’s mission to create or retain jobs, improve community infrastructure, produce affordable housing, and serve distressed low- to moderate-income areas nationwide.
“Directing needed resources to Tribal Nations is a high priority for the Bank,” said Marietta Núñez, Senior Vice President and Community Investment Officer at FHLBank San Francisco. “We are pleased that our member Clearinghouse CDFI is again using our AHEAD Program to provide funding to the White Mountain Apache Housing Authority so that special programs can be implemented to meet pressing needs in its community, as this veteran’s outreach program will do.”
The White Mountain Apache Tribe now consists of 17,000 members of which, many reside on tribal land located in nine major reservation communities. They live in and around Whiteriver, Cibecue, Carrizo, Cedar Creek, Forestdale, Hon-Dah, McNary, East Fork, and Seven Mile.
“The COVID-19 pandemic has hurt so many of the communities we serve. Vital programs, like AHEAD Grants, inject needed capital into these vulnerable areas,” said Douglas J. Bystry, President and CEO of Clearinghouse CDFI. “We are proud to further assist our friends in the White Mountain Apache Tribe and veterans living on their lands. We hope this effort can be a model for other communities looking to serve health and daily needs via effective transportation.”
About Clearinghouse Community Development Financial Institution:
Clearinghouse CDFI addresses unmet credit needs throughout the U.S. and in Indian Country through direct lending, equity investments, and financial assistance. For 24 years, Clearinghouse CDFI has helped bridge the gap between conventional lending standards and the needs of low-income, distressed, and communities of color. Clearinghouse CDFI is also a B Corp—a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. More information is available at: www.ccdfi.com.
About the Federal Home Loan Bank of San Francisco (FHLBSF):
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions-commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions-foster homeownership, expand access to quality housing, seed or sustain small businesses, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient. More: www.fhlbsf.com.
About the AHEAD Economic Development Grant Program:
AHEAD grants support innovative, targeted initiatives that will create new economic opportunity or fill critical social service gaps by expanding proven development models or piloting new interventions. More information is available at: https://www.fhlbsf.com/community-programs/grant-programs/ahead.
Ron Demeter, Partner
Vectis Strategies on behalf of Clearinghouse CDFI