Mattoon, Ill.-based First Mid Bank & Trust recently partnered with the Habitat for Humanity and Coles County (Ill.) Regional Planning to distribute millions of dollars to community members in need to make crucial home repairs and provide quality affordable housing for neighbors.
First Mid received $4 million in grant funds from the Federal Home Loan Bank of Chicago through its Affordable Housing Program, to administer between Coles County Habitat for Humanity and Coles County Regional Planning.
Eligible homeowners — households at or below 80 percent below low-to-moderate-income — receive up to $50,000 for crucial home updates. There is a 25 percent homeowner match that can be financed through First Mid or local banks.
First Mid and Coles County Regional Planning have worked together since 2017 to facilitate FHLBC housing grants for Central Illinois communities.
“We’ve helped people with disabilities make their homes more accessible and addressed necessities like roofs and foundations to ensure safety,” said Kayla Aaron, regional retail loan manager at $7.6 billion First Mid. “The funds can’t be used for luxury upgrades but for vital improvements like windows and HVAC systems, giving lower-income individuals a chance to make needed repairs they couldn’t otherwise afford.”