Employer-Based Homeownership Programs

Through its Web-based platform of counseling services linking consumers to housing counselors around the country, Community Empower offers employees of a major hotel opportunities to repair credit and move toward the path of home ownership. Employees then enroll in a matched-savings program, in which the employer and participating developers of low-income housing provide matches of up to US $2,000 for use toward a down payment or for help with closing costs.

The savings are kept in a stored-value card developed by Global Cash Card; employees can engage different wallets in the cards to store funds for specific purposes. The program, a pilot offered at one location of a major hotel chain, is available to all 2,500 employees of the hotel.