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Monthly Archives: June 2022

Foundation Communities Awarded $6 million in Federal Funding for New Affordable Housing

June 24, 2022 | Posted in Affordable Housing, Housing |

Foundation Communities has taken another big step toward reaching our current goal for expanding affordable housing in Austin. This week, we were awarded $6 million from the Capital Magnet Fund administered by the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund). Foundation Communities is one of 59 organizations nationwide that will receive a […]

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Payday loans: How they work, knowing your rights, and knowing the alternatives

June 12, 2022 | Posted in Financial Stability |

What is a payday loan? *  A short-term, high-cost loan usually available at a storefront or online  *  Average payday loan interest rate in Texas is 660% (Texas does not cap interest or fees)  *  To repay the loan: write a post-dated check for the full balance or provide the lender with ACH authorization (authorization […]

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