MidWest Financial Helps Employees Find Homes

ANN ARBOR, Mich., – MidWest Financial Credit Union has kicked its employee benefit offerings up a notch. The $174 million credit union has launched an Employer-Assisted Housing Program for staffers, which provides loans to eligible employees purchasing a home. The funds can be used for down payment, closing costs or prepaid escrow expenses. In addition, staffers who stay at the credit union for five years can have the loans forgiven. “An Employer-Assisted Housing Program is an investment in our employees,” said MidWest Financial CU President/CEO Larry Knoll. “We want our employees to be able to realize their own financial dreams while helping our members achieve theirs.” Most employees in good standing and who are using the loan to purchase a primary residence are eligible, and employees are already using the program. “Having the loan for closing costs allowed me to replace all of the carpeting in the house,” said the first employee to use the program Samantha Sielewicz.