News
Getting more people into homes: U.S. Bank introduces U.S. Bank Access Home
Homeownership is a cornerstone of wealth building, and Black families disproportionately rent their homes. Black individuals are also underrepresented in the mortgage industry. These factors contribute to the comparatively low homeownership rate among Black families.
To help close these homeownership gaps, U.S. Bank is introducing U.S. Bank Access Home, a part of U.S. Bank Access Commitment™, the company’s long-term approach to closing the wealth gap. The initiative includes a $3 million investment over the course of the next three years.
"Homeownership is the key to stability, financial wellness and generational wealth,” said Tim Welsh, vice chair of consumer and business banking for U.S. Bank. “We cannot do this alone and we share tremendous appreciation for our partners who are bringing this work to communities across the country. We are excited to get to work and create lasting impact in so many ways, including education, access to the lending options, financing, our new mortgage loan officer development program designed for reaching the Black community, and more.”
In addition to expanded access to financial information across all markets, U.S. Bank is providing a nearly $1.6 million investment from the mortgage business to support a wide range of outreach, engagement and educational efforts across five initial markets: Las Vegas, Little Rock, Milwaukee, Minneapolis, St. Louis and nationally with Fannie Mae and Freddie Mac. Those partner organizations include:
Las Vegas:
Neighborhood Housing Services of Southern Nevada
Little Rock:
Martin Luther King Commission
P.A.R.K – Positive Atmosphere Reaches Kids
Milwaukee:
Minneapolis:
Minnesota Homeownership Center
St. Louis:
National:
Disclosures
Equal Housing Lender