Banking On Habitat

Asheville Area Habitat for Humanity invites banks, credit unions, and other financial institutions to join together and partner with families living in substandard housing to build safe, decent and affordable homes and to make the dream of homeownership a reality.

Asheville Area Habitat’s goal is to build 14 houses during the fiscal year 2005-2006. And our plan is to build 80 homes during the next five years and acquire 100 additional building lots for the following five years.

Our vision is for banks, credit unions, and other financial services agencies to sponsor the building of one or more of these houses each year by funding the cost of materials and contributing some of the volunteer labor needed to construct these houses. The cost to sponsor a Habitat house is $55,000.

Habitat for Humanity offers an opportunity for bankers, financial planners, investment counselors, and other financial service professionals, along with their spouses and families, to help families not only build a home of their own but also build the financial equity needed to stabilize their lives.

Lack of affordable housing in Buncombe County is identified as one of our community’s most serious problems by many diverse sources, including the City of Asheville’s Community Development Department, the Department of Social Services, and the Chamber of Commerce. According to the NC Housing Coalition, over 9,000 families in the county are renters and pay over 30% of their income for housing. The majority of these families pay over 35% of their income for housing.  Low-income families suffer the most. Over 5,000 low-income families pay more than 30% of their income in rent. The coalition estimates that there are over 1,700 substandard housing units in the county. The national Center for Housing Policy identifies Buncombe County as one of the nation’s counties where even licensed practical nurses, police officers, and retail and janitorial workers cannot afford to buy a median-priced home due to the disparity between incomes and housing costs.

Banks, credit unions, financial institutions and their employees, spouses, and families.

Businesses and individuals can participate at different levels and in different ways:

• An Individual Pledge
• A Team of Individuals
• A Company Pledge
• An Individual Pledge that includes your Business’ Matching Funds

• A highly visible way to demonstrate the role your institution plays in improving our community.
• Team building work day opportunities.
• Various PR/Media opportunities and recognition events determined by sponsorship level.
• A tangible way to promote the values of homeownership.
• Tax deductible contributions and possible Community Reinvestment Act credits.

We hope you will join us in building houses and changing lives. Begin by making a pledge. Challenge your business or colleagues to set a goal. Encourage your bank or business to consider matching the funds raised by your colleagues and staff.

You can start simply by making a pledge to raise funds. If you have questions or if you wish to arrange individual or team building volunteer opportunities, call or email Jim Lowder, our Director of Development at (828) 251-5702.