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Monday, August 15, 2022

Building A Vibrant Community Through Homeownership For All

Amid a housing crisis and home buying frenzy, the opportunity to buy a house can feel out of reach. At Verity Credit Union, we strive to enhance our members’ lives through building vibrant communities, starting at home. Whether you’re looking to buy a house, utilize the equity you have or sell your current home, we’re here to help.

Home ownership is an essential part of prosperity in our country. For our BIPOC communities, this important piece of building wealth can be difficult to attain. To address this, we partner with organizations like National Association of Real Estate Brokers (NAREB), whose mission is to bring democracy in housing. Seattle chapter president Nicole Bascomb is a leader, paving the way to growing an understanding for all of the importance of Black homeownership.

“Nicole has done an amazing job of making homeownership a reality for our diverse communities here in the Pacific Northwest,”says Shaunice Wilson, client.

NAREB brings a variety of programs to the community to achieve its mission, including its State of Housing in Black America (SHIBA) report, detailing what impedes Black families from homeownership, and Two Million New Black Homeowners Program (2Mn5), striving to eliminate the racial gap and disparities in homeownership. 


NAREB has brought opportunity for Black home owners and real estate agents since 1947, created during a time when Black Americans were not allowed to be in the National Association of Realtors. To this day, NAREB’s goal remains the same — to achieve fair housing for all. Back then, the organization played an integral role in the Fair Housing Act of 1967, and now it continues working to dismantle racism and helping Black Americans build generational wealth.

Through advocacy work to support homeownership along with education for real estate professionals, NAREB focuses on the transformation of how homeownership is available, not the transaction of it.

Each year, the organization releases its SHIBA report to shed light on the issues Black communities face when purchasing a home, from access to mortgage credit, neighborhood blight and disaster recovery. The report provides detailed points on how the existing racially-driven gaps in homeownership impact the wealth gap, which touches the lives of everyone, not just BIPOC communities.

To help build a vibrant community rooted in abundant homeownership opportunities, NAREB also runs its 2Mn5 program, a solution that launched in 2018 responding to the organization’s SHIBA report. Designed to put two million Black Americans in homes within five years, 2Mn5 brings a holistic approach to increasing Black homeownership with a five-point plan guiding the ways in which the organization infiltrates communities. These include providing access to advocacy, information, markets, capital and financing for consumers and small business owners, and partnerships with faith-based institutions.

NAREB works to achieve the objectives in its 2Mn5 program through advocacy at local, state and federal levels, activism for access to credit and policies supporting increased Black homeownership, action-based community outreach focusing on awareness and education, and community development projects. The organization also advertises to Black consumers about the benefits of homeownership and provides development training to leaders and entrepreneurs.

NAREB has made significant strides in its 2Mn5 program — Black homeownership started at 40% in our country in 2018 and is now at 44%.


Housing for the Black community is about more than just affordability. It’s about removing  barriers put in place that exist in every facet of their lives. To increase Black homeownership, collaboration and understanding about why we’re discussing Black homeownership are key.  

In Seattle, Black homeownership sits at 28%. While many Black Americans have the means to buy a home, they don’t have the generational wealth other communities have established. With programs like NAREB’s 2Mn5, the opportunity to own a home is more achievable than before. 

The racial wealth gap negatively impacts our entire country, touching the economy and white homeownership and wealth. Organizations like NAREB work to put the Black community on par with other racial communities, benefiting everyone. Because of the impact of systemic racism, NAREB’s programs are crucial to giving the Black community equal access to resources.

With support from organizations like Verity Credit Union, NAREB continues to help Black Americans fulfill their home-buying dreams. Verity provides mortgage education for making these financial decisions along with mortgage and home equity loans.               

Learn more about Verity Credit Union at veritycu.com and National Association of Real Estate Brokers at nareb.com.

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