Climb Credit Union Researches New Mortgage Solutions With GoWest Foundation Support

Posted by Alyse Knudsen on August 26, 2026

For many families, homeownership remains just out of reach despite steady income, responsible financial habits, and a desire to put down roots. Climb Credit Union is working to better understand those challenges and explore new opportunities to help more borrowers achieve the dream of owning a home.

With support from a $20,000 planning grant from the GoWest Foundation, Climb is conducting a feasibility study to evaluate potential pathways for expanding access to sustainable homeownership for borrowers who may not fit traditional mortgage standards.

The project will assess portfolio data, quantify opportunities among underserved borrowers, and examine operational, legal, and credit considerations needed to support a responsible, risk-conscious approach. The work also includes collaboration with community development financial institutions, peer credit unions, housing stakeholders, and mortgage experts to explore potential secondary market and loan participation opportunities.

The effort stems from a growing need across Colorado.

“Across Colorado, too many hardworking people, including first-time buyers, renters, and essential workers, are financially ready for the responsibilities of homeownership but remain outside traditional mortgage guidelines,” said Rainy Thoen, Climb Credit Union’s Chief Impact Officer. “At Climb Credit Union, we believe a financial institution should do more than identify barriers; it should help build responsible pathways around them.”

While the project is still in its discovery phase, Thoen said the research process has been collaborative and encouraging.

“We are evaluating underwriting, mortgage insurance, loan participation, secondary-market opportunities, regulatory considerations, borrower education, and long-term sustainability,” she said. “Conversations with mortgage experts, credit union peers, and community partners are helping us understand what a responsible model could look like.”

The study is designed to determine whether a scalable and sustainable approach can help more qualified borrowers transition from renting to homeownership while maintaining strong member protections and organizational sustainability.

For Climb, success will mean much more than developing a new mortgage product.

“Our best-case outcome is a clear, responsible, and scalable pathway that helps more qualified people move from renting to sustainable homeownership,” Thoen said. “Success would mean creating an ecosystem of education, trusted guidance, flexible but prudent lending, community partnership, and ongoing support.”

“Homeownership can change the trajectory of a family for generations,” she added. “At Climb, our goal is to help build responsible pathways so more people can move from hoping for a home to having a real opportunity to own one, because no one climbs alone.”

The project also demonstrates how the GoWest Foundation helps credit unions shift innovative ideas from concept to action.

“The application process was clear, accessible, and strongly aligned with the credit union philosophy of people helping people,” Thoen said. “Their support is giving Climb the space to ask difficult questions, bring the right partners to the table, and turn a meaningful idea into an informed strategy.”

Credit unions with ideas that could strengthen communities, expand opportunity, or address emerging needs through housing, rural access to financial services, or small business support are encouraged to explore GoWest Foundation grant opportunities. Whether funding a new initiative, researching an innovative solution, or building collaborative partnerships, the Foundation helps credit unions turn promising concepts into meaningful impact. Sometimes, all it takes is a conversation to get started.

Posted in Colorado, Community Impact, GoWest Foundation, Regional Member News, Top Headlines.