TAPCO Credit Union Launches Innovative Housing Entry Loan Program for Tacoma Families with GoWest Foundation Support

Posted by Alyse Knudsen on July 22, 2026

For many working families, unpaid debt owed to a former landlord can stand in the way of stable housing. TAPCO Credit Union is helping change that with the support of a grant from the GoWest Foundation.

The grant supports an innovative Housing Entry Loan program designed to help families with children in the Tacoma Public Schools system move into safe, affordable housing while building stronger financial futures. The initiative brings together TAPCO Credit Union, Tacoma Public Schools, Mercy Housing, and the Multicultural Family and Child Hope Center in a collaborative effort to address housing instability in the community.

More than 1,400 Tacoma Public Schools students are currently unhoused or experiencing housing instability. While many of the families are employed and able to afford monthly rent, they are often unable to qualify for housing because they still owe money to a previous landlord. In many cases, families have been evicted after landlords refused to accept partial rent payments, leaving them with debt that prevents them from securing a new home.

The Housing Entry Loan grew out of years of collaboration between TAPCO and Tacoma Public Schools. As school officials and community organizations worked to support families experiencing housing instability, they recognized the need for a financial institution willing to help remove one of the biggest barriers to securing housing.

“We’ve partnered with Tacoma Public Schools for several years through financial education and community initiatives,” said Justin Martin, President and CEO of TAPCO Credit Union. “The Tacoma Education Dream Fund introduced us to this partnership, and together we co-created the Housing Entry Loan. It’s a great example of what can happen when organizations bring their unique strengths together to solve a real community challenge.”

The new program removes that obstacle through a coordinated approach. Tacoma Public Schools identifies eligible families, while Mercy Housing provides access to affordable multi-bedroom apartments. Grant funding administered through the Multicultural Family and Child Hope Center helps pay a portion of each family’s outstanding landlord debt and provides at least six months of financial counseling. TAPCO Credit Union then provides affordable Housing Entry Loans to cover the remaining balance, allowing families to resolve past debt and qualify for housing.

The loans are intentionally designed to promote long-term financial stability. Payments are structured so families have at least $1,000 in monthly income remaining after rent and loan payments, helping ensure they can meet other household expenses while building positive credit history. Along with personalized financial counseling, the program aims to improve both financial literacy and long-term financial resilience.

Although the broader rollout will coincide with the upcoming school year, the program has already changed one family’s future.

“We originated our first Housing Entry Loan through this partnership in May when we were approached with an emergency situation,” Martin said. “It was a family that was facing being unhoused in two days. We were able to get the loan approved and them placed in housing prior to them experiencing homelessness.”

The GoWest Foundation grant will fund the loan loss reserves for the first two years of the program, allowing TAPCO to pilot the initiative while establishing performance data and sustainable underwriting standards. After that, the credit union anticipates being able to continue offering the loans as an ongoing product.

With average loan amounts between $5,000 and $7,500, TAPCO expects the program to help 13 to 20 families secure housing through the initial grant funding. Beyond those immediate impacts, the credit union believes the Housing Entry Loan could become a replicable model for communities facing similar housing challenges.

Martin said the response from the program’s partners has reinforced just how meaningful the initiative is.

“Our community partners have been trying to launch this program for two years. They were in tears when we funded the first loan,” Martin said. “By providing an affordable way to resolve outstanding eviction-related debt, families have an opportunity to secure stable housing and focus on what matters most — creating a stronger future for their children.”

By combining affordable lending, financial coaching, and strong community partnerships, the program demonstrates how credit unions can develop innovative solutions that address urgent community needs while creating lasting financial opportunities for the families they serve.

Interested in starting a conversation about a housing, small business, or rural access to financial services project idea your credit union has? Reach out to the GoWest Foundation team.

Posted in All Articles, Community Impact, Economic Empowerment, Grants, Workforce Housing.