On July 1st, the Covenant Homeownership Program in Washington state opened for business offering assistance to low-income homebuyers whose families have been harmed by racial discrimination in housing.

Register now for this forum, co-sponsored with The Racial Wealth Gap Partnership at The Boston Foundation, as three key leaders of this effort to create a statewide Special Purpose Credit Program join us in Boston on September 17th for an inspiring evening.

Special Purpose Credit Programs (SPCPs) are lending products targeted to historically underserved and economically disadvantaged groups and neighborhoods. Designed to mitigate the structural barriers experience by disadvantaged populations to access fair credit opportunities, including redlining and lending discrimination, the programs have played a role in advancing financial equity and bridging the gap between white borrowers and borrowers of color. However, despite their potential in reducing barriers to business ownership, home ownership, and wealth accumulation, SPCPs have been historically underutilized and underfunded.

This event will bring together financial and legal experts, policymakers, and community leaders to explore how SPCPs can address disparities in credit access, foster financial inclusion, and expand home and business ownership. The panelists will share their insights on the design, implementation, and impact of these programs based on their firsthand experience. Attendees will also have the opportunity to connect with local SPCP leaders during breakout sessions. 

This event serves as a pre-event for the Partnership for Financial Equity’s Annual Summit, sponsored by First Citizens Bank and the Arbella Insurance Foundation. To register for the 2024 Financial Equity Summit, please click here.