Landmark Community Bank Offers Low Interest Loan
To Facilitate Purchase
When St. Therese of Lisieux – the “Saint of the Little Way” – said
more than a century ago that people in distress could be saved by small acts of
kindness, she may not have been thinking about food and shelter for women who
are survivors of trauma and homelessness. But a Memphis non-profit has used the
teachings of the Little Flower, as St. Therese is known, as an inspiration to
build community with and for women who are looking to rebuild their lives after
being on the streets.
And when the Memphis-based Community of St. Therese of Lisieux
approached United Housing, Inc. (UHI) in need of space for three women in
transition, the message resonated. Thanks to a partnership with the Lisieux
Community, UHI, the Presbyterian Women (PCUSA) and Landmark Community Bank,
those women now have a safe place to live as they work to get back on their
feet.
“We participated in the national Community Stabilization Trust
program that resulted from the settlement with the major national banks
affected by the financial crisis. The banks provided foreclosed properties to
non-profits like UHI for use as affordable housing,” said Amy Schaftlein,
director of development and communications for UHI, a non-profit affordable
housing agency that serves families in the city of Memphis, Shelby County and
West Tennessee. “When organizations like St. Therese have a need, those
properties could be fixed up and rented for a dollar a year for two years with
an option to purchase, and meanwhile address a critical social challenge.”
Lisieux Community President Sandra Ferrell says a grant from the
Presbyterian Women (PCUSA) allowed her organization to take the next step, not
only purchasing the house but also making needed renovations. Landmark
Community Bank in Memphis provided the low-cost loan through a state-level
community reinvestment program.
“A foreclosed house had been sitting vacant for years, and now
these three women have a home. It’s such a wonderful partnership of local and
national organizations working together to make a difference on several
levels,” Ferrell said. “Many times, people who find themselves on the street
never learned to live as part of a family, and we help provide them with
education, life skills, employment assistance and other programs. As St. Therese
taught, we can do small things that add up to mean a lot to these women’s
futures.”
Now two of the participants are starting at Southwest Community
College, and everyone involved has felt the impact. Landmark Community Bank
Senior Vice President Bryan Jones says the bank selects opportunities to
support local non-profits each year.
“This initiative
has such a direct impact on Memphians who desperately need the help and want to
get back into society,” Jones said. “We’re blessed to have organizations like
United Housing and the Lisieux Community in our midst, and Landmark Bank was
honored to play a small role in connecting the dots and offering the financing
that provided a stable home.”
The home has a capacity for five women to participate in the
two-year program. The Lisieux Community has made tremendous strides in helping
women transition back into the workforce and community. For more information,
visit www.lisieuxcommunity.org.
