In terms of supply and affordability of rental housing, the Sunshine Coast ranks as one of BC’s top 10 communities in critical condition according to the Canadian Rental Housing Index. Three community-minded organizations are working together to launch a new service that aims to keep people housed during times of acute financial stress by offering short term interest-free loans and support through advocacy and referral services.
“Housing security affects us all; the importance of which is underlined by the number of individuals and organizations working on delivering solutions within our community today,” said Shelley McDade, CEO of Sunshine Coast Credit Union. “On behalf of more than 16,800 members choosing SCCU as their financial institution, we are pleased to be able to contribute our expertise and resources, alongside our community partners.”
Recognizing the need for a variety of solutions to support housing security on the Sunshine Coast, Sunshine Coast Credit Union, The Co-operators and Sunshine Coast Community Services Society are working together to develop and deliver a service that will support individuals experiencing a temporary financial crisis. Tenants facing the potential for eviction, or the termination of their utilities, will be able to apply for a short-term interest-free loan. Applicants will be required to qualify based on specific criteria including minimum income verification. Loans will be provided in conjunction with advocacy, financial literacy and referral support tailored to the needs of the individual in crisis.
“Keeping people housed during a time of crisis is just one more important tool in our community’s kit to address housing challenges on the Coast,” commented Sunshine Coast Community Services Society’s Executive Director, Catherine Leach. “We want to recognize Sunshine Coast Credit Union and The Co-operators for their vision, financial contributions, and dedication of resources in making this new service a reality.”
“As a cooperative, we seek to address unmet needs and provide financial security and peace of mind to Canadians,” commented Valerie Georgescu Co-operators advisor in Gibsons. “We are very pleased to be working with local partners and providing funding to support those in our community facing housing challenges.”
A launch date for the new service will be announced soon. To learn more and stay connected, visit www.sunshineccu.com/Housing