INDIANAPOLIS – Dec. 13, 2021 – The Regions Foundation, a nonprofit organization primarily funded by Regions Bank, on Monday announced a $50,000 grant to support the Indianapolis Neighborhood Housing Partnership® (INHP).
The donation will benefit INHP’s Homebuyer Preparation Program – one of the organization’s core programming initiatives which pairs a HUD certified homeownership advisor with an aspiring homebuyer earning a low or moderate income. Families in the program work one-on-one with their advisor for up to 24 months to achieve realistic, attainable goals that will help them access financing options and become long-term, successful homeowners.
“Buying a house represents a significant milestone, and every family’s journey to reaching that milestone is unique,” said Marta Self, executive director of the Regions Foundation. “INHP helps families overcome financial barriers and provides homebuying solutions through its innovative programs. The result is not only that more people in Indianapolis can achieve homeownership – this also means more people are able to build generational wealth through the long-term benefits of owning your own home. We are proud to support INHP’s commitment to working directly with local families to help them chart a successful path to homeownership.”
Clients who enter INHP’s Homebuyer Preparation Program often have financial barriers such as collections or judgments, minimal savings or credit challenges. The program provides a customized action plan that includes financial literacy, money-management tips, savings goals, and a comprehensive homebuyer education class that helps remove real or perceived barriers to buying a home. Clients work through the program at their pace so they can qualify for mortgage lending – either directly through INHP or other lenders – and buy a home. According to INHP, in 2020, clients enrolled in the program repaid a cumulative $118,710 in debt, increased their credit scores by an average of 53 points, and individually saved an average of $5,300 for a down payment.
Buying a house represents a significant milestone, and every family’s journey to reaching that milestone is unique. We are proud to support INHP’s commitment to working directly with local families to help them chart a successful path to homeownership.
Marta Self, executive director of the Regions Foundation
“We are grateful the Regions Foundation, as well as our longtime community partners at Regions Bank, have chosen to support the mission of INHP as we empower people with low and moderate incomes who are working to achieve their housing goals,” said INHP President and CEO Moira Carlstedt. “This grant from the Regions Foundation allows INHP to continue providing comprehensive programming that creates knowledgeable consumers and improves equitable access to safe, decent and affordable housing in the neighborhoods where they choose to live.”
Since its 1988 founding, INHP has helped more than 41,000 Marion County families achieve their housing goals. In addition to the grant from the Regions Foundation, Regions Bank and its predecessor banks have supported INHP for 20 years through a variety of initiatives, including sponsoring monthly homebuyer education classes, as well as the organization’s annual Community Breakfast and Living the Dream home renovation initiatives, among other programs.
“From Crown Hill to Mapleton-Fall Creek to the Old Southside, when you visit many of the Circle City’s most established neighborhoods, you’re certain to see INHP’s impact firsthand,” said Erik Miner, market executive for Regions Bank in Central Indiana. “Their work has been lifechanging for tens of thousands of families and transformational for our entire Indianapolis community. Through this generous contribution from our colleagues at the Regions Foundation, that work will continue to empower even more people as they achieve their dream of homeownership.”
About Regions Foundation
The Alabama-based Regions Foundation supports community investments that positively impact communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $156 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and approximately 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
About Indianapolis Neighborhood Housing Partnership
The Indianapolis Neighborhood Housing Partnership® (INHP) increases affordable and sustainable housing opportunities for individuals and families in Marion County, and serves as a catalyst for the development and revitalization of neighborhoods. INHP supports people by providing homebuyer and financial education, one-on-one homeownership advising, home purchase and home repair lending, and economic mobility programming for renters. As a Community Development Financial Institution (CDFI) INHP also supports the creation or preservation of affordable housing through investments in affordable housing development, land banking, community lending and grantmaking. For more information, visit INHP.org.