So you’ve checked out descriptions of PCRI’s Programs elsewhere on our website, but you’re hungry for a little more information. Well, you’ve come to the right place! Our Programs Department has been feverishly working on new services for our residents–as well as make our current programs even better. Here are some highlights of our recent Programs successes:
Our Homeownership Initiative (launched in 2004) aims to transform PCRI residents from renters to first time homeowners. The comprehensive program includes intake and assessment, credit repair, one-on-one counseling, financial fitness, HUD-certified homebuyer education, monthly homebuyer club meetings, and post-purchase assistance. It’s exactly this type of program that goes beyond helping homeowners, says the New York Times: “These alliances have sidestepped the plague of foreclosure.”
Since 2007, PCRI has been working with the African American Alliance for Homeownership and Hacienda Community Development Corporation, with whom PCRI forms the Minority Homebuyers Assistance Collaborative (MHAC). Through the MHAC collaborative, PCRI residents have access to culturally-specific HUD-certified homebuyer education classes and additional funds to assist with down payment and closing costs.
We’re excited about 2009’s growth for our homeownership program and the successes of the residents who are enrolled:
As an integral part of our homeownership initiative, PCRI’s financial literacy program is designed to prepare individuals and families to better manage their finances and achieve family goals such as lowering debt and improving credit scores. Residents in this program are provided with multiple choices of sound and proven financial education curricula including: Money Smart, Dollar Works 2, and Dave Ramsey’s Financial Peace University.
IDAs are matched savings programs that allow qualified individuals to set savings goals and make monthly deposits into a designated account. Each dollar deposited is matched 3:1. PCRI has been involved in the IDA matched savings program since 2007. In 2008, we expanded our community partnership with CASA of Oregon allowing us to provide IDA’s directly through PCRI. Residents have the ability to save in 3 major areas: homeownership, higher education, and home repairs. The program is so popular, we currently have a waiting list of residents wanting to take advantage of it. The program is successful, too. In 2009, PCRI:
Here’s our newest and most innovative approach to helping PCRI residents achieve their family goals. The Thriving Families program is the all-encompassing package that helps move residents from family stability to self sufficiency and begin the process of creating wealth. It incorporates all the programs and services PCRI currently offers, providing an effective vehicle to help families identify their needs and aspirations and put them into a strategic plan framework. Through this framework, each family member age six and older is able to create individual and family goals to be achieved. Monetary and other incentives are offered to participants who meet and exceed agreed upon milestones. These awards can assist families to overcome barriers they currently face. 2009 was an exciting year for the program as staff finalized details and began enrolling families. In 2009, we:
Next up: a look at the resources available at PCRI’s community centers, where we put these programs into action.
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Portland Community Reinvestment Initiatives Inc.
6329 NE Martin Luther King Jr. Blvd. Portland, OR 97211
Tel: (503) 288-2923 Fax: (503) 288-2891
PCRI is a 501(c)(3) non-profit community development organization providing affordable rental housing to low-income families, primarily in North and Northeast Portland. Since 1992, PCRI's vision has been to provide affordable housing and associated services that achieve family stability, self-sufficiency and wealth creation.