CHICAGO, Ill. – Sept. 29, 2022 – Regions Bank on Thursday announced a $20,000 donation to Housing Action Illinois that will support three affordable housing initiatives throughout the state.
This first-time community collaboration supports housing programs and resources for at-risk and low-income families served by the Embaras River Basin Agency, the Western Egyptian Economic Opportunity Council, Inc., and the C.E.F.S. Economic Opportunity Corporation. Each organization is an established community partner of Housing Action Illinois.
“Access to safe, affordable, and sustainable housing is an urgent priority, and Regions Bank is well positioned to help address this need, not only through our financial services but also through our strategic community involvement,” said Eric Madkins, community development manager for Regions. “Housing Action Illinois is addressing hurdles families face as they work toward achieving their dream of permanent homeownership. This takes the form of education, advocacy programs for members of the public, and more. We are proud to support this work through this new grant; the results will benefit families in several communities.”
Access to safe, affordable, and sustainable housing is an urgent priority, and Regions Bank is well positioned to help address this need.
In 2020, more than 10,000 people in Illinois experienced homelessness according to a Federal Point-in-Time count, a census of sheltered and unsheltered people on a single night. The estimate
of people at risk of homelessness is more than ten times that figure.If you consider those who “double up” by sharing residences due to poverty, the figure jumps to nearly 165,000 people.
For 35 years, Housing Action Illinois has led the movement to protect and expand the availability of quality, affordable housing throughout Illinois. The nonprofit works with 160-plus members, including the agencies that will benefit from the Regions Bank grant.
“Housing Action Illinois builds the capacity of organizations to better meet the housing needs of people across Illinois,” said David Young, director of Capacity Building with the nonprofit. “Regions Bank’s donation allows us to focus on supporting organizations in Central and Southern Illinois, which have many of the same housing issues as other areas but often cannot secure additional funding.”
Regions Bank’s donation allows us to focus on supporting organizations in Central and Southern Illinois, which have many of the same housing issues as other areas but often cannot secure additional funding.
One of those organizations, the Western Egyptian Economic Opportunity Council (WEEOC) Inc., is a Housing and Urban Development (HUD) approved agency that serves 12 counties across Southern Illinois. The Regions grant has already made a difference according to WEEOC leaders.
“The financial assistance from Regions is helping us revitalize our counseling program,” said Paulette Hamlin, executive director of WEEOC. “The grant helped provide additional training to our newly certified counselor and allowed us to purchase a new client management system, which is helping us better serve clients and more accurately report our impacts and outcomes.”
In its 2021 fiscal year alone, Housing Action Illinois’ network of subgrantees served more than 11,000 clients. That included assisting 1,100-plus with purchasing a home, supporting more than 6,000 clients with developing a sustainable budget, and connecting more than 4,200 people with valuable resources like down payment or rental assistance to improve their housing situation.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $161 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 approximately 1,300 banking offices and more than 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 Housing Action Illinois
Housing Action Illinois is a statewide coalition that has been leading the movement to protect and expand the availability of quality, affordable housing in Illinois for 35 years. Our 160+ member organizations include housing counseling agencies, homeless service providers, developers of affordable housing, and policymakers. We bring everyone together to work toward our vision of an Illinois where everyone has a stable, good home.