CHI Announces Direct Community Investments
CHI’s Direct Community Investment Program makes low-interest or no-interest loans to community-based organizations that promote access to health care, housing, education or jobs. As of March 31, 2012, CHI had committed $39 million in loans through the program. During the first quarter of 2012, the Social Responsibility Investment Staff Committee approved a new loan and renewed two others.
The Corporation for Supportive Housing
Based in New York City and provides loans nationally
Loan Amount: $500,000
The Corporation for Supportive Housing (CSH) is a national community development financial organization that helps communities create safe, stable housing with services to prevent and end homelessness. CSH’s loans finance the development of high-quality supportive housing for people who face the greatest risk of long-term homelessness and struggle with complex health and social challenges.
Populations served by CSH-based supportive housing include: homeless, at-risk veterans; youth aging out of foster care; vulnerable families; American Indians; people exiting jail and prison; and those suffering from mental illness, substance addiction, or HIV/AIDS. The loan from CHI will be used to assist in the creation of supportive housing nationally.
Chattanooga Neighborhood Enterprise, Inc.
Serves Chattanooga, TN
Loan Amount: $1 million
CHI has renewed a loan to Chattanooga Neighborhood Enterprise (CNE), a nonprofit organization established to encourage home ownership by providing below-market-rate loans to residents of Chattanooga. The mission of CNE is to build and sustain livable neighborhoods by providing homeownership education and counseling; offering affordable loans; encouraging neighborhood engagement; and working in partnership with other organizations. CNE has a long-standing relationship with Memorial Hospital through an employer-assisted housing program. Through this program, CNE and Memorial Hospital help employees obtain loans that may not be available through conventional sources to purchase or rehabilitate homes.
Serves Portland, OR
Loan Amount: $50,000
CHI has renewed a loan to Portland YouthBuilders (PYB), a nonprofit organization offering educational, vocational and leadership development programs for low-income young people who have dropped out of high school. PYB students earn high school or general equivalency diplomas while acquiring the skills, values, and experience necessary to lead self-sufficient and productive lives. The PYB program gives young people the opportunity to develop the tools necessary to pursue college and /or entry level jobs in the construction trades and apprenticeship programs, the technology field, or other careers. In 2009, PYB received a grant from the Bill and Melinda Gates Foundation to expand opportunities for students to pursue post-secondary degrees. Students are now able to receive college credit for course work completed at PYB and also receive financial support to attend Portland Community College.