Washington Trust Bank donates $10,000 to RootedHomes
BEND, Ore. (KTVZ) -- The Bend branch of Washington Trust Bank, the largest independently owned full-service bank in the Northwest, has donated $10,000 to RootedHomes, a Bend-based affordable housing nonprofit.
RootedHomes creates mixed-income communities of permanently affordable, environmentally sustainable homes using a community land trust model. This approach lowers costs for qualified first-time homebuyers by enabling them to purchase only the home while leasing the land from the trust through a 99-year renewable lease.
“It’s no secret that Central Oregon, like much of the country, has a shortage of affordable housing,” said Cory J. Allen, Washington Trust Bank senior vice president and Central Oregon team leader. “At Washington Trust, we’re committed to supporting and lending to projects that promote homeownership and help our communities thrive, and we’re delighted to partner with RootedHomes to expand equitable access to homeownership in Central Oregon.”
In addition to this and previous donations to the organization, Washington Trust Bank has been a financial partner of RootedHomes. In southwest Bend, the bank provided financing for the recently completed Rooted at Poplar community for essential and local workers, which includes six homes for households earning less than 80% of area median income and one home for a household earning up to 120% of area median income. Washington Trust is also the lender for two RootedHomes projects in Redmond.
“We want everyone to be able to afford to live where they work and play,” said Karl Dinkelspiel, interim executive director of RootedHomes. “Right now, many of the workers who contribute to the fabric of the Central Oregon economy and community — nurses, teachers, essential workers and many others — are able to qualify for a mortgage but are priced out of the market with housing costs so high. Our community land trust model bridges this gap and enables these workers and their families to start building wealth through homeownership. We’re grateful to Washington Trust Bank for supporting our vision.”
For more information about Washington Trust’s community involvement, please visit https://www.watrust.com/about/community.
About Washington Trust Bank
Washington Trust Bank is the largest independently owned full-service commercial bank in the Northwest, serving the region since 1902. A wholly owned subsidiary of W.T.B. Financial Corporation, Washington Trust Bank has $11 billion in assets. Headquartered in Spokane, Washington Trust Bank currently has over 40 branches and offices in Washington, Idaho and Oregon. The bank employs approximately 1,200 people. Details can be found at https://www.watrust.com. The bank is also active on Facebook, LinkedIn, Instagram and X.
