Pictured with Church Koinonia Federal Credit Union manager Ann Jones-Pierre, left, and IDA program manager Rebecca Cowan, Tiffany Kyles purchased a vacant lot in Chattanooga where she hopes to help build a Habitat house in 2011. Through financial classes and a credit union account, she was able to save enough money to buy the property.A credit union made up of members from 52 mostly black churches wants to help more than two dozen people with low to moderate incomes buy homes by the end of 2011.
By showing members how to save and then contributing $2 for every dollar put away, the Church Koinonia Federal Credit Union already has proved that it can help those of lesser means achieve that unlikely goal.
Just ask Tiffany Kyles.
In just four years, the single mom has gone from life in public housing, to Section 8 housing, to the verge of home ownership, thanks largely to Koinonia.
The credit union helped her save $7,500 toward the purchase of land for her home in October. Habitat for Humanity will start construction in late spring.