Park National Bank announces new Employer-Assisted Housing program - Metropolitan Planning Council

Skip to main content

Park National Bank announces new Employer-Assisted Housing program

New program features a tiered incentive for employees who purchase homes in Cicero or Maywood, or in targeted neighborhoods in the city of Chicago.

Park National Bankmade a bold leadership move in October, when it introduced itsnew employer-assisted housing program in various branches across the region. The program features a tiered incentive, with up to $10,000 in down payment and closing cost assistance, available to households that purchase a home in Cicero or Maywood, or in Chicago's Austin, East Side, Englewood, Logan Square, Pullman, Roseland, South Chicago, or West Garfield neighborhoods.

"Given the current economic times, our new employer-assisted housing program is a way to keep our employees focused on maintaining the communities in which we live and work. It's a wonderful incentive package where everyone benefits, and we hope that other companies will follow our lead." said David Doig, president of Park National Initiatives.

Employees will receive either $5,000 or $10,000 as down payment assistance, as long as the home they are purchasing is located within 15 miles of the branch where they work. In addition, employees will receive counseling from Neighborhood Housing Services of Chicago, to make sure they end up with the right home and loans they can afford over time.

Park National held four different information sessions for employees to learn how the bank can help them realize their dreams of homeownership. For those employees who were unable to attend, information will be available via the company's Intranet.

Comments

No comments

More posts by Jane

All posts by Jane »

MPC on Twitter

Follow us on Twitter »


Stay in the loop!

MPC's Regionalist newsletter keeps you up to date with our work and our upcoming events.

Subscribe to Regionalist


Most popular news

Browse by date »

This page can be found online at http://www.metroplanning.org/news/3497

Metropolitan Planning Council 140 S. Dearborn St.
Suite 1400
Chicago, Ill. 60603
312 922 5616 info@metroplanning.org

Sign up for newsletter and alerts »

Shaping a more equitable, sustainable and prosperous greater Chicago region

For more than 80 years, the Metropolitan Planning Council (MPC) has made the Chicago region a better place to live and work by partnering with businesses, communities and governments to address the area's toughest planning and development challenges. MPC works to solve today's urgent problems while consistently thinking ahead to prepare the region for the needs of tomorrow. Read more about our work »

Donate »