Executive Letter: WBA Providing Grant Opportunity for Housing and Economic Development
By Rose Oswald Poels
WBA once again 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 2025. The WBA Board was excited to offer members this funding opportunity to help support affordable housing and economic development initiatives for banks last year and is pleased to offer it again 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 Monday, February 10, 2025.
In the interest of offering this opportunity to all WBA members, recipients of the 2024 grant are not eligible to apply for the 2025 grant.
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 in 2025.
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 the potential purposes of the fund are:
• Host a housing clinic in areas of need (e.g., rural, low-income, incarcerated individuals)
• Host housing related forums, conferences or trainings in your community to increase the educational awareness of the challenges and how to best develop solutions
• Pay for a study (that is completed in 2025) that identifies gaps in housing or small business for a community (this can be done in collaboration with other groups such as local chambers, units of government or economic development councils)
• Create financial literacy or financial cyber safety materials, and/or host educational clinics in areas of need or that target rural, low-income or other special communities such as incarcerated individuals, youth, veterans, disabled persons, etc.
2024 was the inaugural year of this grant program and the impact of these grants was felt around the state.
Last year, WBA awarded $10,000 grants to five member banks, selected from 23 applications, to support housing and financial education initiatives across Wisconsin. Here is how these funds made an impact:
• Columbia Savings and Loan Association, Milwaukee: Provided down payment assistance to low-income borrowers in Milwaukee, continuing their century-long commitment to underserved communities.
• Premier Community Bank, Marion: Created a series of fraud prevention and homebuying videos, including resources tailored for Spanish-speaking first-time home buyers.
• Community First Bank, Boscobel: Hosted educational events developed for Realtors promoting WHEDA programs to help low-to-moderate income individuals achieve homeownership, and developed educational resources and videos for current and prospective homeowners.
• Peoples State Bank, Prairie du Chien: Partnered with Couleecap, a HUD counseling agency, to deliver a 3-part financial literacy series, Pathways to Housing, addressing housing and money management needs in Crawford County.
• Waldo State Bank: Collaborated with a local nonprofit, Family Service Association, Inc. – Consumer Credit Counseling Service, to provide financial education and counseling services.
These projects highlight the meaningful, diverse ways grant funds empower communities. Don’t miss the chance to make an impact this year; apply now!
Please complete the grant application found here by February 10, 2025, to be considered. If you have any questions about this grant opportunity you may contact me at ropoels@wisbank.com.
