Compass Working Capital Launches Partnership with Mercy Housing in Denver
Compass Working Capital today announced their new partnership with Mercy Housing Mountain Plains to administer the U.S. Department of Housing and Urban Development’s Family Self-Sufficiency (FSS) program for Colorado residents living in HUD-assisted housing. Mercy Housing, a leading multifamily affordable housing nonprofit provider in the nation, will offer the FSS program for residents of Decatur Place Apartments, Clare Gardens, and Holly Park Apartments. This partnership marks the first time Compass will provide FSS program services in Colorado.
Compass Working Capital (Compass), a national nonprofit, works to end asset poverty for families with low incomes and narrow the racial and gender wealth divides. Through its administration of the U.S. Department of Housing and Urban Development's Family Self-Sufficiency program, the nation’s largest asset-building program for families with low incomes, Compass supports families with low incomes to increase their earning potential, build savings, and secure a brighter future for themselves and their children.
“Based on available data, we estimate that nearly 28,000 Coloradan households currently receiving federal rental assistance are eligible to participate in the FSS program, yet just over 800 participate,” said Markita Morris-Louis, CEO of Compass Working Capital. “This partnership is a game changer to expand FSS access in the Centennial State, and we are delighted to work with Mercy Housing families to help build their futures.”
“We are thrilled to have partnered with Compass Working Capital to help grow our FSS programming from one to three Mercy Housing Mountain Plains communities,” said Shelly Marquez, Mercy Housing Mountain Plains president. “Through the efforts of our Resident Services teams and with the support of Compass Working Capital, our financial services programming is helping to meet residents where they are in their financial journeys and allowing them to build a solid financial foundation.”
About Compass Working Capital
Compass Working Capital (“Compass”) works to end asset poverty for families with low incomes and narrow the racial and gender wealth divides. Compass partners with affordable housing providers to run the U.S. Department of Housing and Urban Development’s Family Self-Sufficiency program, the nation’s largest asset building program for families with low incomes. Since 2010 Compass has supported over 5,000 families to build more than $19 million in savings.
About Mercy Housing
Mercy Housing, Inc. (MHI) is a leading national affordable housing nonprofit headquartered in Denver, CO. Established by the Sisters of Mercy in 1981, and in operation in 21 states, we have over 40 years’ experience developing, preserving, managing, and financing affordable housing. MHI supplements much of its housing with Resident Services programs that help residents build stable lives. MHI’s subsidiaries further the organization’s mission: Mercy Housing Management Group (MHMG) offers professional property management and Mercy Community Capital (MCC) finances nonprofit and mission-based organizations. MHI serves tens of thousands of people with low incomes, including families, seniors, veterans, people who have experienced homelessness, and people with disabilities. Mercy Housing is committed to creating affordable homes and inspiring dreams as we work with residents and partners to establish engaged, strong, and inclusive communities. To learn more about MHI and the services it provides, visit mercyhousing.org.