Executive Letter: New WBA Grant Opportunity for Housing and Economic Development

By Rose Oswald Poels

WBA has an opportunity to provide five (5) grants of $10,000 each for member banks to use for housing, economic development, and certain financial literacy purposes in 2024. The WBA Board is excited to offer members this new funding opportunity to help support affordable housing and economic development initiatives your bank may engage in this year. The criteria for the grants are outlined below and applications must be received by WBA no later than 5:00 p.m. Central Time on Friday, March 15, 2024.

There are three broad categories for which the grant proceeds may be used: housing and housing literacy, economic development/community investment, and financial or cyber literacy. The funds must be used for one of these purposes and directly benefit consumers and/or businesses in Wisconsin. Grant recipients will be asked to submit an impact report about how the funding was used, a description of the program or project and goals achieved, and specific metrics to illustrate the consumer/business impact of the program or project. The impact report must be provided within 30 days from the date the grant proceeds were used.

Some examples of programs that may qualify for a grant include:

• Provide financial education and housing counseling to consumers as a means of improving home ownership opportunities.
• Conduct a housing study in your community to help leaders identify housing needs to sustain population numbers and/or manage population growth.
• Fund expert speakers at a meeting (e.g., rotary event) or community event on housing, housing literacy, lowering barriers to affordable housing, expanding housing supply, or economic development through the growth of small business.
• Create tools (e.g. brochures, videos, other) that raise awareness of the benefits of home ownership for Wisconsin consumers.
• Hold events or create educational resources intended to increase consumer or business awareness of financial health and well-being, cyber literacy, and/or credit building and repair strategies.

Please complete the grant application found here by March 15, 2024 to be considered. WBA will provide all applicants with a response no later than April 19, 2024. If you have any questions on this grant opportunity you may contact me or Daryll Lund.