Buying a home was a dream for 42-year-old Carla. As a renter her entire life, she longed for a place that she and her wife Genie and their young son could call their own.

Working for years as an assistant director of a not-for-profit, Carla enjoyed helping improve the lives of others. When it came to her own financial future, however, she was less confident. “As a first-time home buyer with no experience in the process, I was very nervous and had no idea what to expect,” Carla recounts.

Overwhelmed with the prospect of making such a large investment, she wanted to understand the complexities of the process. She researched resources that she, too, could rely on to capitalize on the goodwill of organizations that could help people in her situation.

That’s when she discovered the GLCU Foundation for Financial Empowerment. The GLCU Foundation’s HUD-certified housing and financial counselors partner with clients to understand their unique needs, guide them through personalized action plans, and help put into practice theories that genuinely work.

During Carla’s meeting with Housing and Financial Counselor Jessie Flores, they discussed the steps necessary to begin the home-buying process. Jessie took Carla through the process every step of the way, beginning with a comprehensive overview of Carla’s financials, including household income, expenses, debts, credit score, debt-to-income ratio, and more. This provided a snapshot of Carla’s financial picture and gave them insight into what she could afford. Carla also attended a home-buying class and afterwards, Jessie answered her many questions, even offering to help Carla’s wife track her spending and improve her credit.

What’s more, Jessie connected Carla with a mortgage lender and other experts in the homebuying field. Due to Carla’s income, she qualified for a grant that covered up to $17,500 in down-payment and closing cost assistance after taking the class and the counseling sessions. 

Because Carla and her family were motivated to achieve their goals, they put in the hard work. Carla took her class and counseling very seriously. She interviewed the various professionals Jessie connected her with to find the best fit for her family’s needs. Together with regular meetings with Jessie, Carla set achievable short-term goals and made continuous progress toward her goal of homeownership. Genie continued to work on improving her credit and decreasing debt.

All their hard work paid off! In March of 2025, Carla closed on their new “forever home” in Mount Prospect. She and Genie plan to set roots and raise their child in their beautiful new neighborhood. Carla happily relates, “I am very grateful to the GLCU Foundation and specifically Jessie Flores for all her guidance. I would recommend this program to anyone considering homeownership.”

The information in this post is for educational and informational purposes only and does not constitute investment or financial advice. You should consult a licensed financial advisor before investing in any financial product or service.

Brittney wanted to determine if she could one day become a homeowner. However, for years, a single issue had been a major source of stress, rendering her too afraid to confront it. So, when the 36-year-old initially visited the GLCU Foundation for Financial Empowerment, she addressed her situation with Senior Housing Counselor John Borthwick.

Saddled with debt following a car accident that severely devalued her vehicle, Brittney had found herself in collections after her car was repossessed. During their initial meeting, John addressed the situation head-on. He called the collections company and discovered that the balance had been transferred to a law firm that was only a month away from taking it to court. John worked with the law firm and persuaded them to settle the debt for roughly $3,800.

John began making calls to lenders to figure out who might be able to give Brittney an affordable loan. He also checked with his teammates, and someone strongly recommended the non-profit Jewish Free Loan Chicago (JFLC). The GLCU Foundation worked with JFLC on preparing Brittney’s paperwork and they successfully qualified her for a zero-interest loan with an affordable minimum payment that would start in 2025.

Brittney would also be able to use tax rebate money to pay off the loan almost immediately, going from an $18,000 collection to being 100% debt free! This was the one major obstacle from beginning the pre-purchase timeline for her since it had such a large impact on the debt to income needed to qualify for a home.

Together with Brittney, John went over different options available to her. Besides working on her credit, another goal that stood out was building her savings to eventually qualify for a Habitat for Humanity home within the next year or two, as Habitat for Humanity takes its applications every fall. 

Like Habitat for Humanity, the GLCU Foundation believes affordable housing plays a critical role in developing and sustaining strong and stable communities. After meeting with John and facing her fears about the old debt, Brittney felt a renewed sense of purpose and remains determined to continue working with the GLCU Foundation to qualify for Habitat for Humanity and accomplish the dream of homeownership one day.

If you or someone you know is in need of free financial and housing counseling assistance, don’t hesitate to reach out  and  schedule a free screening. 

The information in this post is for educational and informational purposes only and does not constitute investment or financial advice. You should consult a licensed financial advisor before investing in any financial product or service. 

The GLCU Foundation for Financial Empowerment embodies the credit union philosophy of “people helping people” through the work it does in the community. In 2024, GLCU partnered with 158 community organizations to provide financial resources, volunteer support, and education. The GLCU Foundation spent 167 hours with United Way Lake County, 159 hours with the Northern IL Food Bank, and 140 with HOPE Food Distribution Services, to name a few. 

“[COOL Ministries Food Bank] helps over 5000 [people] monthly in the community, and it is so great to be with GLCU while making that impact possible,” said GLCU employee Mike Villarreal of his experience volunteering with one of the GLCU Foundation’s community partners.

More than half of GLCU employees volunteer annually with the GLCU Foundation’s “Great Wave” volunteer program. Through this program, GLCU employees provide the necessary support local nonprofits need in order to make a meaningful impact in the communities we call home.

“It is always a rewarding experience to work with others while providing service to the community,” said Lisa Hopton, a GLCU volunteer.

From sorting and packaging produce to putting together sensory kits for children in need, GLCU volunteers and its partner organizations made a tangible difference for those in need in 2024.

“[These are] great opportunities to give back to kids in need,” added GLCU volunteer Blake Siegel.

In total, the GLCU Foundation spent 4,384 hours on community outreach in 2024.

“We love how GLCU is supporting the community,” said Youth Conservation Corps, a GLCU Foundation partner.

By donating to the GLCU Foundation for Financial Empowerment, you become a critical part of a powerful mission to promote economic stability and financial literacy. Your generous contribution directly helps us provide invaluable resources, education, and tools for individuals striving to secure their financial future. Donate today!

After living in a refugee shelter in Chicago for several weeks, 32-year-old Venezuelan-born Jose G. was eager to find permanent housing. Luckily, he was in the shelter when he heard Jessie Flores, a GLCU Foundation for Financial Empowerment  Housing and Financial Counselor, sharing information that could help him do just that.

As a partner to the City of Chicago shelter, the GLCU Foundation’s housing and financial counselors helped the shelter’s residents access stable housing. Jessie assisted residents in applying for the Asylum Seeker Rental Assistance Program (ASERAP). The ASERAP initiative was managed by the Illinois Housing Development Authority (IHDA), whose primary mission is to finance the creation and preservation of affordable housing in Illinois. The IHDA connects people with financing programs to help them afford homes.

Jose expressed interest in applying for the ASERAP program to get permanent housing. After reviewing his documentation and verifying he met the program requirements, Jessie helped him fill out the ASERAP application and submit the necessary documents. During their meeting, they reviewed his lease agreement, discussed tenant rights and responsibilities, examined the ASERAP program guidelines, and looked at additional resources such as help with utilities and furnishings, available through the shelter.

Once his application was submitted, Jose needed to also have his prospective landlord, Mr. Lopez, apply as well. Jessie provided the same thorough assistance to Mr. Lopez, and through a series of phone calls and meetings, Jessie was able to educate him about the ASERAP program. She explained the program guidelines and application process, verified the rental agreement information, and obtained a new lease attestation for Jose.

Jessie helped to ensure Mr. Lopez was providing accurate information when he filled out his portion of the ASERAP application. Together with Jose’s Catholic Charities case manager, Jessie worked with Mr. Lopez to ensure his application would be approved.

“The shelter is a terrific partner to the GLCU Foundation. Their advocacy, support and community outreach aligns well with our goals of providing stable housing for refugees looking to be self-sufficient,” Jessie noted.

Within just 17 days of submitting his initial application, Jose’s ASERAP application was approved, and he received $5,600 in funding for stable housing.

If you or someone you know is in need of free financial and housing counseling assistance, don’t hesitate to reach out  and  schedule a free screening. 

The information in this post is for educational and informational purposes only and does not constitute investment advice. You should consult a licensed financial advisor before investing in any financial product or service. 

As the charitable and volunteer arm of Great Lakes Credit Union (GLCU), the GLCU Foundation for Financial Empowermentembodies the credit union philosophy of “people helping people” through its ongoing financial and volunteer support of community partners throughout Chicagoland. 

Giving Back Through Volunteerism and Youth Financial Education 

The GLCU Foundation gives back through offering financial education programs to the community. One of the GLCU Foundation’s impactful partnerships includes teaching a money management curriculum to trade students taking part in the Workforce Innovation and Opportunity Act (WIOA) program at the College of Lake County.  

Beyond providing financial grants, the GLCU Foundation amplifies its impact through hands-on volunteerism. GLCU team members regularly contribute their time to community giveback events through the “Great Wave” volunteer program. In 2024 so far, GLCU employees have spent nearly 2,000 hours volunteering in the community. 

GLCU employees also facilitate youth financial education events through the Money Mammals®, Adolescent$™, and Bite of Reality programs. Money Mammals programming focuses on teaching kids ages 3-11 smart money skills. Adolescent$ programming teaches youth aged 12-18 healthy money habits and how to set financial goals.  

Bite of Reality is a budgeting simulation program that offers high school students hands-on experience managing household expenses such as daycare, food, car payments, rent, and more. In 2024 so far, GLCU employees have impacted more than 1,000 youth through financial education sessions. 

Addressing Food Insecurity  

Rooted in the belief that financial empowerment begins with community well-being, the GLCU Foundation partners with organizations that address the needs of local families and individuals who are facing food insecurity. Through collaborating with groups like the Northern Illinois Food Bank, COOL Ministries Food Bank, Common Pantry, and more, the GLCU Foundation focuses on creating opportunities and providing resources for those who need it most. 

Building Stronger Communities 

By leveraging the strength of its partnerships and the passion of its volunteers, the GLCU Foundation aims to make a tangible difference in the lives of those in need. True to its mission, the GLCU Foundation is building stronger, more resilient communities, one partnership at a time. 

The GLCU Foundation wouldn’t be able to do the impactful work it does without the support of its partners and donors. Please consider donating to the GLCU Foundation for Financial Empowerment this GivingTuesday! 

The GLCU Foundation for Financial Empowerment is proud to offer free housing and financial counseling to both members and non-members alike. Through housing and financial counseling programming, families improve their financial situation, address their housing needs, and pursue their long-term housing and financial goals.

Whether a client is planning on buying a home, reducing their debt, or saving for retirement, GLCU’s HUD-certified counselors help them get on the path to financial empowerment.

GLCU counselors provide education and counseling in the areas of:

The Foundation’s Housing and Financial Counseling Impact

So far in 2024, the GLCU Foundation has helped save $2,750,000 in assets through foreclosure intervention counseling. This is especially impactful as Illinois has one of the highest foreclosure rates in the U.S.

Additionally, the Foundation holds financial education workshops on a variety of topics. Specifically, each month the Foundation holds a first-time homebuyer seminar covering homeownership readiness and affordability, money and credit management, financing, and the purchase and closing processes.

Carol, one of the GLCU Foundation’s financial counseling clients, attended a first-time homebuyer seminar and learned about getting preapproved for a mortgage, her credit score, eligibility requirements for mortgage assistance, and much more. Carol said the 6-hour workshop was, “very informative, and the speakers from the GLCU Foundation were empowering.”

Shevon Johnson, a HUD-certified housing and financial counselor at the GLCU Foundation for Financial Empowerment, assisted Carol with the homebuying process, helped her find a mortgage lender, and helped her receive the down payment assistance she was eligible for as a first-time homebuyer.

“I am extremely grateful for all the awesome assistance that Shevon and the GLCU Foundation provided to me. Your seminars really empowered me to take the next step in my journey and achieve my dream,” Carol said.

Support the Foundation

The GLCU Foundation’s HUD-approved housing and financial counseling program is one of the largest in the state of Illinois, and GLCU is one of only a handful of credit unions in the country to offer such a program to the communities it serves.

The GLCU Foundation wouldn’t be able to do the impactful work it does without the support of its partners and donors. Please consider donating to the GLCU Foundation for Financial Empowerment this Giving Tuesday!

Having no debt is a terrific thing. But it can come at a cost if you haven’t established any credit. When Antoinette B initially made an appointment with the GLCU Foundation for Financial Empowerment to meet with Housing and Financial Counselor John Borthwick in 2020, she was debt free, but didn’t have any credit established.

John advised her to open a secured credit card to establish credit. Secured credit cards use the members’ savings as collateral so that when they use their credit card, they have the funds to pay it off, which is a nice segue into building credit.

Antoinette left the initial meeting and went home to think about it. On the one hand, she didn’t like the idea of having any debt. On the other, she needed to build credit. It wasn’t until 2023 that she returned, when her need to establish credit became more pronounced.

She had endured many issues with her landlord over the past few years, and after being unable to resolve them, she began apartment hunting. Unfortunately, all the landlords and property owners she spoke with informed her that she needed to have a credit score in the mid-600s.

John recommended she build her credit to have a stronger footing while looking for a new residence. Antoinette agreed that while she had some issues with the rental, it could wait while she built credit. John worked with Antoinette, teaching her how to research and compare product features.

Ultimately, Antoinette opted to open a GLCU Secured Visa® credit card because she trusted the credit union, appreciating the education and good service she’d received over the years.

Once she had the secured card, John helped her check on it monthly to ensure that she had been paying the balance off before the end of the month for reporting’s sake. In August 2024, John asked if she would want to look at her credit. Antoinette agreed, and when he pulled her report, she had a credit score of 728.

She was ecstatic and said that she felt like she really had so much more power with her finances and talking with landlords. She said that she looked forward to receiving more guidance from the GLCU Foundation as she decided how she wants to change her living situation moving forward.

The information in this post is for educational and informational purposes only and does not constitute investment or financial advice. You should consult a licensed financial advisor before investing in any financial product or service.

If you or someone you know is in need of free financial and housing counseling assistance, don’t hesitate to reach out and schedule a free screening.

When 57-year-old mobile homeowner Richard H’s profession of floor installation took its toll on his body, he applied for disability. Unfortunately, he was denied. Being unable to work, he couldn’t pay the rent on his home’s lot. His uncle had helped him with his bills in the past, but unfortunately wasn’t in a position to pay the $10,000 he was behind in his lot rent.

Richard’s mobile home park was now taking him to court to evict him from the property. Since Richard didn’t have the money to move his home, the result would not only be a loss of his lot, but also of his mobile home, which he owned free and clear.  

Richard began working with an attorney to appeal for the disability, but still didn’t have any income to pay the current or past due rent on the lot. Luckily, another family member stepped up to bat for Richard, putting him in touch with the GLCU Foundation for Financial Empowerment.

After meeting with GLCU Foundation Housing and Financial Counselor Jeannine Folan, Richard began to feel hope in an otherwise hopeless situation. Together, Richard and Jeannine applied for the Court-Based Rental Assistance Program (CBRAP) though the Illinois Housing Development Authority (IHDA). Beyond that, Jeannine assisted the mobile home park property manager with her portion of Richard’s application.

While waiting for the application to be approved, Richard received his eviction judgement and was given seven days to pay his entire past due balance or move out! At that point, it looked like he was going to be homeless.   

Jeannine immediately reached out to a contact at IHDA who had helped her with another application. Her contact rallied a team at IHDA to get the application reviewed and approved with the hope of getting the park owner to accept the funds and dismiss the court case. This took intense effort on everyone’s part. Jeannine contacted the property manager to get the additional documents that IHDA needed for their review.

Representatives from IHDA then swiftly reviewed the application, approved it, and began working with the park owner to get the eviction case dismissed, all within the seven days after the eviction judgement was handed down. The case was dismissed and IHDA paid the past due lot rent.

While this was very satisfying news, Jeannine was still concerned about the lot rent going forward. The property manager had put Richard in touch with the local township office and they had consented to pay a portion of his lot rent on an ongoing basis. Jeannine reached out to Richard’s uncle, who agreed to pick up the balance of the lot rent each month, giving Richard some peace of mind while he awaits the results of his disability case.

“Everyone involved in helping Richard keep his home really rallied behind him. It took heroic efforts on everyone’s part, but it was worth it in the end,” Jeannine commented. “Congratulations to everyone involved for a successful resolution.”

If you or someone you know is in need of free financial and housing counseling assistance, don’t hesitate to reach out and schedule a free screening.

When Regen Marsell was looking for a mortgage to buy his first home, a family member recommended that he apply for one from GLCU. Given that the credit union offered him a closing credit (as well as a lower rate), Regen said the decision to choose GLCU as his mortgage provider was a “no brainer.”

The closing credit is accessible to homebuyers regardless of their location of purchase or first-time homebuyer status. Regen closed on his home in Lake Villa, Illinois in April of 2024. He used his lender credit to help pay his closing costs, which allowed him to use more money from his savings to renovate his home.

“GLCU made the process straightforward, smooth, and easy,” Regen said. “They helped remove any roadblocks and made it possible for me to close sooner than expected if I wanted to.”

GLCU was also on hand to answer any questions Regen had, explaining the homebuying process to him every step of the way. When asked about what he would tell other homebuyers considering applying for a mortgage and closing credit with GLCU, Regen said:

“Do it. It’s a free resource that made closing costs a lot more manageable for me as a first-time homeowner.”

At GLCU, we’re committed to making homeownership more accessible to everyone. That’s why we’re proud to offer a $3,000 closing credit to our members through September 30th, 2024. To be eligible, you must be pre-approved for a GLCU mortgage by September 30th, and close by December 31st, 2024. Check out our rates and consider applying today.

If you’d like to learn more about the homebuying process, we encourage you to attend one of our free first-time homebuyer seminars.

A series of unfortunate events began snowballing for Christine V. during the COVID-19 pandemic: she lost her job, her kids contracted COVID, and she was unable to find work. It wasn’t long before she found herself more than $33,000 behind on her mortgage payments.

On the brink of losing her home to foreclosure, Christine recalls being “extremely overwhelmed and discouraged.” She knew she had to do something to keep a roof over her family’s head because, as she said, “that’s all we have.”

Determined to save their family home, Christine sought help. Through the Illinois Housing and Development Authority (IHDA), she discovered that Great Lakes Credit Union (GLCU) is one of only five credit unions in the nation to offer a HUD-approved housing and financial counseling program. She reached out to the GLCU Foundation’s financial and housing counseling team and  was referred  to Jessie Flores, one of the GLCU Foundation’s six housing and financial counselors.

Jessie discovered Christine’s mortgage lender had started foreclosure proceedings. She worked with Christine to apply for a grant through the Illinois Emergency Homeowner Assistance Fund (ILHAF).

Meanwhile, Jessie helped Christine review her expenses and determine the status of her financial situation. Not only was Christine’s mortgage severely in default, but she was also at risk of having her water shut off. Jessie immediately helped Christine create an action plan.

The two worked together tirelessly for two months, during which time Jessie provided much-needed direction, resources, and support to Christine. Christine applied for assistance with her water bill through Kendall Grundy Community Action. She applied for the SNAP program, as well as the Nicor and ComEd financial assistance programs to help bring her utilities current.

Their persistence paid off. During a follow-up call, Christine was happy to report she was approved for all the programs she applied for! Her mortgage is current, and her utility bills are affordable now.

Bad things happen to good people all the time. But it’s especially sweet when there’s a happy ending. Christine’s decision to act quickly and seek help saved her home, and she said she’s grateful to the GLCU Foundation for helping her turn her financial situation around for the better.

“I’m so thankful to Jessie and the GLCU Foundation! I really appreciate all the support they have given me,” Christine said.

If you or someone you know is in need of free financial and housing counseling assistance, don’t hesitate to reach out and schedule a free screening.

The information in this post is for educational and informational purposes only and does not constitute investment advice. You should consult a licensed financial advisor before investing in any financial product or service.