Search
 
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.

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.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Natasha Chilingerian

Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

More from this author

Dig Deeper

 

Recommended Stories

Hate Is Too Lucrative

Hate Is Too Lucrative

Michael Ogden |

As some organizations unfortunately profit off of dangerous ideologs, the goodness of credit unions is not going unnoticed.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.