AAACU announces $75,000 grant to Habitat for Humanity Northeast Michigan
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ROGERS CITY -- Alpena Alcona Area Credit Union (AAACU) announced it will award $75,000 in Community Multiplier grant funds to Habitat for Humanity Northeast Michigan via the Federal Home Loan Bank of Indianapolis' Community Multiplier - Member Match program, according to an AAACU press release on Tuesday.
Community Multiplier - Member Match is a matching grant program available to financial institution members of the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), the release stated. The program offers grants of up to $60,000 each with a minimum 25% matching commitment from the member financial institution to target specific affordable housing initiatives.
"At Alpena Alcona Area Credit Union, we believe strong communities start with access to safe, affordable housing," Donald J. Mills, president and CEO at AAACU, said in the press release. "We are proud to partner with Habitat for Humanity Northeast Michigan, the City of Rogers City, and other agencies to support this important investment in Rogers City. By working together with local partners, we can help create opportunities for local families, strengthen our communities, and make a lasting impact for generations to come."
According to AAACU, the grant will support the development of a new residential subdivision with the expansion of infrastructure into an undeveloped 18-acre wooded area within the city limits of Rogers City. Street, sidewalk, curb, gutter, water, sewer, electricity, natural gas, and wi-fi will be extended into the subdivision during the 2027 construction season, allowing Habitat to construct five new much-needed affordable homes in what could eventually become a 48-home neighborhood, the release stated.
"The project would not be possible without significant outside funding, including this generous $75,000 contribution from Alpena Alcona Area Credit Union - a hometown company that has proudly come forward to provide affordable housing for its customers and future customers.The contribution from AAACU will be matched dollar-for-dollar by Habitat for Humanity Northeast Michigan, the City of Rogers City, and other outside agencies, turning $75,000 into more than $300,000 in what is projected to be a $1.5 million project," Joe Hefele, Rogers City city manager, said in the release.
AAACU is a state-chartered credit union with membership eligibility open to any resident in the state of Michigan. As of Sept. 30, AAACU provides service to 50,896 members with total assets equal to $999,287,904.