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Editor's Letter

Chipping Away at the Towering Issue of Housing Affordability

CUs may only be making a small dent in the issue of housing affordability, but their efforts are well worth it.

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Sample ADU unit This sample ADU unit, located in Ocean Park, Wash., is displayed on Consolidated Community CU’s flyer for its ADU loan program.

For many Americans, the housing system that’s currently in place, which should be designed to provide viable housing options for people of all income levels, flat out isn’t working.

During a recent interview, Larry Ellifritz, president/CEO of the $244 million Consolidated Community Credit Union in Portland, Ore., shared an anecdote that many parents with kids entering the workforce might relate to. He said his college-age son recently told him that after graduating and getting a job, he wouldn’t be able to afford living in Portland. “That was when it first hit home for me, that [affordable housing] is a problem,” Ellifritz said. The average monthly rent for an apartment in Portland (at an average size of 762 square feet) is $1,457, according to RentCafe.com.

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Natasha Chilingerian

Natasha Chilingerian

Natasha has served as an editor for CU Times since March 2015. She also served as a communications specialist for Xceed Financial Credit Union in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer for more than 14 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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