TelComm Credit Union awards grant to Springfield Community Land Trust

Springfield Community Land Trust is the recipient of a $10,000 grant through a program that supports affordable housing and community development.

In a news release, Springfield-based TelComm Credit Union, in partnership with the Federal Home Loan Bank of Des Moines, announced the grant it presented July 28 to SCLT. The matching grant program, the Member Impact Fund, is designed to boost the community engagement of FHLB Des Moines member institutions that support local housing, business and economic needs.

In Missouri, 956 applications received funding through partnerships with 174 member institutions, according to the release. FHLB Des Moines matched $3 for every $1 contributed by a member institution, resulting in $6.5 million from members and $19.4 million awarded by FHLB Des Moines.

“TelComm Credit Union is proud to partner with Springfield Community Land Trust and FHLB Des Moines to support housing solutions that create lasting opportunity in our community,” said Jessica Shorney, TelComm Credit Union CEO, in the release. “SCLT’s work helps more Springfield families access safe, stable and affordable housing, and we are pleased to invest in that mission.”

SCLT intends to use the grant to support its work creating, rehabilitating and stewarding permanently affordable homes in Springfield. Through the community land trust model, SCLT holds land in trust while eligible buyers purchase the home, reducing the cost of homeownership and preserving affordability for future families. SCLT also provides below-market rental housing for households with limited incomes.

“This investment will help us preserve and expand housing opportunities that remain affordable for Springfield families – not just today, but for generations,” said Kristy Vaughan, SCLT’s executive director, in the release. “We are grateful to TelComm Credit Union and FHLB Des Moines for recognizing that stable, affordable housing strengthens families and builds stronger communities.”