Three Credit Unions Launch Collaborative Mortgage Pilot in Oregon and Southwest Washington with Support from GoWest Foundation

Posted by Alyse Knudsen on July 29, 2026

A new mortgage lending pilot from three Oregon-based credit unions aims to make homeownership more accessible for households across Oregon and Southwest Washington by removing some of the barriers that often prevent qualified borrowers from purchasing a home.

CCCU, Point West Credit Union, and Rivermark Community Credit Union have launched a three-year, collaborative pilot program to better serve first-time homebuyers, ITIN borrowers, and other traditionally underserved households. The initiative is supported by a recently awarded $150,000 GoWest Foundation grant, along with matching contributions from the participating credit unions, creating a shared loan loss reserve that allows the institutions to responsibly expand affordable mortgage lending.

Together, the credit unions have committed to originating more than $80 million in non-Fannie Mae and Freddie Mac mortgage loans during the pilot.

The mortgage products offered through the program are designed to reduce common barriers to homeownership, with features including low or no down payment requirements, no private mortgage insurance, reduced origination fees, and competitive fixed interest rates.

“The ITIN loan products will also assist our undocumented community members obtain financing that they typically do not have access to across all lending institutions,” said Larry Ellifritz, President and CEO of CCCU.

The pilot is expected to help more than 160 households while demonstrating a collaborative lending model that could be expanded throughout Oregon and replicated by credit unions in other regions.

“This program is intended to expand access to attainable and sustainable homeownership for households that are traditionally underserved,” said Jason Werts, President and CEO of Rivermark Community Credit Union. “At Rivermark, our goal is to transform lives and communities, and this was an opportunity to do just that.”

All three participating credit unions are Community Development Financial Institutions (CDFIs) with extensive experience financing workforce housing and serving underserved communities. By pooling resources and sharing risk, the credit unions are creating a model that strengthens their ability to collectively address local housing needs.

“It is always a pleasure working with like-minded CDFI credit unions to meet the home loan needs of our community,” said Ellifritz. “We could not be more appreciative of the GoWest Foundation and their support of these Oregon housing initiatives.”

The partnership also reflects the cooperative spirit at the heart of the Credit Union Movement.

“The GoWest Foundation has partnered with credit unions to create really impactful initiatives across our six states,” Werts said. “We are excited to have the opportunity to do this in Oregon and Southwest Washington too.”

As the pilot progresses, participating credit unions will collect data and measure outcomes to help inform future partnerships with public and private funders. The lessons learned will support continued efforts to expand equitable access to homeownership and demonstrate how collaboration can help credit unions create lasting community impact.

If your credit union is interested in learning more about grants or would like to start a conversation about a project idea focused on workforce housing, rural access to financial services, or small business support, the GoWest Foundation team is available to answer questions and provide guidance.

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