A report has been released highlighting the ways credit unions can help to address the US housing crisis – and examining the challenges they face along with way.
Released by Filene Research Institute in collaboration with the World Council of Credit Unions (Woccu), the report – Meeting the Moment: How Credit Unions Are Tackling the Housing Shortage in Their Communities – highlights innovative strategies, barriers and opportunities that credit unions face in delivering affordable, accessible and sustainable housing solutions to their members in the USA.
With housing affordability reaching crisis levels in many communities worldwide, the US-based study sheds light on how co-operative financial institutions are “uniquely positioned to bridge gaps for underserved populations”.
“This study underscores the importance of housing security as a cornerstone of financial well-being,” said Eileen Miamidian, Woccu’s technical director of inclusive financial services, who compiled the report.
Related: London needs ‘more cash and land for CLTs and housing co-ops’
“Credit unions around the world are committed to advancing financial inclusion, and this collaboration with Filene demonstrates how we can extend that commitment into innovative housing solutions that truly change lives.”
The research explores key themes, including:
- Affordability and Accessibility. Innovative lending products and partnerships that make homeownership and rental housing more attainable.
- Barriers to Innovation. Regulatory, operational and capital challenges that limit credit unions’ ability to scale housing initiatives.
- Global Perspectives. Case studies from diverse markets in the U.S. highlight both common challenges and region-specific opportunities.
- Pathways Forward. Practical recommendations for credit unions to expand housing impact while maintaining financial soundness.
Woccu says future instalments of Filene’s Housing Innovation Series will continue to examine how credit unions can innovate in ways that improve housing security and strengthen financial well-being worldwide.
