Three Sunshine Coast organizations have launched an initiative to keep people housed during times of acute financial stress by offering short-term, interest free loans and support through advocacy and referral services.
The move follows the release last month of the latest Canadian Rental Housing Index, which ranked the Sunshine Coast as one the province’s 10 worst communities for rental affordability and supply.
Recognizing the need for a variety of solutions to support housing security, the Sunshine Coast Credit Union, The Co-operators and the Sunshine Coast Community Services Society are developing a service that will support people experiencing a temporary financial crisis.
Tenants facing potential eviction, or the termination of their utilities, will be able to apply for a short-term interest-free loan. Applicants will have to qualify based on specific criteria including minimum income verification, and the loans will be provided in conjunction with advocacy, financial literacy and referral support tailored to the needs of the individual in crisis.
“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. “We are pleased to be able to contribute our expertise and resources, alongside our community partners.”
Sunshine Coast Community Services Society’s executive director, Catherine Leach, said: “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. 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.”
Valerie Georgescu, Co-operators advisor in Gibsons, added: “As a cooperative, we seek to address unmet needs and provide financial security and peace of mind to Canadians. 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, visit www.sunshineccu.com/Housing.
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