Housing Authority Launches Program to Help Renters Build Wealth, Move to Homeownership

The Housing Authority of Clackamas County (HACC) now has new tools to support low-income residents to build credit and save for the future. HACC has been selected by the U.S. Department of Housing and Urban Development (HUD) to participate in the Asset Building Cohort of HUD’s Moving to Work program. The new program for residents will provide financial literacy and encourage savings, credit building, self-sufficiency and homeownership. In this first year of the Moving to Work program, HACC will open and match savings account deposits for down payment assistance for participating clients. HACC will also expand its existing credit-building program for participating clients. HACC is planning to launch additional services to benefit low-income families in future years. By integrating asset building programs like this, anti-poverty policies can more directly facilitate economic stability for millions of Americans. Watch the full announcement from HUD Secretary Marcia L. Fudge here.