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Rivermark Secures $3 Million Grant for Veterans Affordable Housing in Portland

Posted by on January 27, 2026

Rivermark Community Credit Union has secured the maximum $3 million grant from the Federal Home Loan Bank of Des Moines Affordable Housing Program (AHP), designating First A.M.E. Zion Church, in partnership with Logos Faith Development, as the recipient. The funding will enable development of a 44-unit multifamily affordable housing project for veterans and their families in Portland, Ore.

As the sponsoring financial institution, Rivermark played a pivotal role in obtaining this award, reinforcing its commitment to building stronger communities and addressing housing insecurity for those who have served our country.

“We believe financial institutions have a responsibility to create lasting impact beyond banking, and this grant shows what collaboration and alignment can achieve,” said Rivermark Executive Vice President/Chief Impact Officer Seth Schaefer. “This project will provide safe, affordable housing for veterans who deserve stability and dignity, and we’re honored to stand with First A.M.E. Zion Church and Logos Faith Development in making this vision a reality.”

This development is the only project in Portland to receive the maximum AHP award, marking a milestone in the effort to address the affordable housing crisis for veterans.

Posted in Community Impact, Oregon, Regional Member News.

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