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Bank Making $12-Mil Affordable Housing Investment

SEATTLE-The Federal Home Loan Bank of Seattle's initial $6.5-million installment will finance more than 1,000 new housing units in 10 states and American Samoa for homeless families; Native Americans, Alaskans, Hawaiians and rural workers.

By Gina Binole | Updated on July 26, 2001

SEATTLE-The Federal Home Loan Bank of Seattle says it will invest $12.5 million in affordable housing projects by the end of the year as part of its Affordable Housing Program, which is funded with 10% of the company’s annual profits and awarded twice annually.

The $6.5-million first installment will be invested in 29 housing projects in 10 states and American Samoa, including 10 projects in Washington State and five in Oregon. The investment will finance more than 1,000 housing units for homeless families; Native Americans, Alaskans, Hawaiians and rural workers.

In addition to Oregon and Washington, projects were funded in Alaska, Hawaii, Idaho, Montana, Utah, Nevada, Arizona and the Pacific Islands.Another $6 million will be awarded in December.

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