PNC Supports Homewise’s Free Financial and Homebuyer Education Classes

PNC is supporting sustainable and affordable homeownership in New Mexico through Homewise’s financial education programs, thanks to a $100,000, four-year grant provided by The PNC Foundation.

“PNC Bank and Homewise have a long history of partnership with the shared goal to support affordable housing options for the residents of New Mexico,” said Kamal Ali, PNC regional president and head of Commercial Banking for New Mexico. “In honor of this history, we’re delighted to announce this grant to support Homewise’s mission to help create successful homeowners and strengthen neighborhoods.”

“We are grateful to PNC for awarding us this multi-year commitment,” said Johanna Gilligan, chief external relations officer for Homewise. “To become a homeowner, especially in these challenging financial times, takes commitment. This grant means we can help more people stay on track to achieve their financial and homeownership goals.”

Homewise offers free online and in-person education classes in English and Spanish to help individuals and families improve financial fitness, become educated homebuyers and be more prepared for the responsibilities of owning a home. Monthly classes are open to everyone and taught in person in Albuquerque and Santa Fe, New Mexico. Online video classes are also available for self-paced study.

Individuals who have completed Homewise’s Financial Fitness class have reported increasing their credit score and savings and reducing debt. To date, Homewise’s education program has served 85% first-time homebuyers, 81% low- to moderate-income clients, 72% Hispanic households and 31% female heads of household. Close to 1,000 clients enroll at no cost each year at homewise.org/attend-a-class/.

When asked about their education experience, class participants express a high degree of satisfaction and appreciation. Recent participants have provided feedback such as:

• “Everything was incredibly helpful! The material was well-organized and easy to follow. The overview of the entire process helped me feel much less overwhelmed!”
• “The steps [to becoming a homeowner] seem obvious, but who does them when is confusing, and the videos helped me with that.”
• “[The trainers were] explaining in detail the entire process. It helps make the entire thing so much more understandable. Great!”

Under its Community Benefits Plan started Jan. 1, 2022, PNC has  to provide $88 billion in loans, investments and other financial support over four years to create economic opportunity for low- and moderate-income (LMI) individuals and communities, people and communities of color, and other underserved individuals and communities in all of PNC’s markets across its national footprint.

Homewise’s free education classes are made possible thanks to the generosity of our community partners. With this grant, PNC joins Homewise’s community partners, including Opportunity Finance Network, Neighborworks America, The Frost Foundation, National Association of Latino Community Asset Builders, Wells Fargo, Bank of America and Sandia National Laboratories, among others.