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  • Writer's pictureKelsie Papenhausen

Patelco Credit Union Partners with FHLBank San Francisco in First-Time Homebuyer Matching Grant Program

$13 Million WISH Program Provides Downpayment Assistance for First-Time Homebuyers

DUBLIN, Calif. (June 18, 2024) Patelco Credit Union has joined the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) Workforce Initiative Subsidy for Homeownership (WISH) matching down payment grant program to help more greater Bay Area residents achieve the dream of homeownership. Through the annual grant program, Patelco Credit Union will reserve funds to assist eligible low- to moderate-income first-time homebuyers in the greater Bay Area with up to the annual maximum FHFA subsidy limit, which is $30,806 in 2024 in downpayment assistance until the $13 million in WISH program funds are exhausted.

FHLBank San Francisco’s WISH grant program was created to help families overcome the most significant barriers to homeownership and build wealth. This will be the seventh year that Patelco Credit Union has participated in the program. 

“Patelco Credit Union is committed to fostering financial resilience and supporting the well-being of our members through homeownership,” said Vince Salinas, Vice President of Home Loans, Patelco Credit Union. “By partnering with FHLBank San Francisco in the WISH program, we are empowering families in the Bay Area to overcome financial barriers and achieve their dream of owning a home.”

FHLBank San Francisco’s WISH program offers eligible low- to moderate-income households 4-to-1 matching grants of up to the annual maximum FHFA subsidy limit, which is $30,806 in 2024 that can be applied to down payment and closing costs for the purchase of a first home. The grants, available on a first-come, first-served basis, are intended for families and individuals who are ready to make the transition from renting to owning, and the grants can be paired with local, state, and federal mortgage loan programs, such as Fannie Mae HomeReady and Federal Housing Administration–insured mortgages. 

“Homeownership is a key pathway for families to open doors to building wealth in America, but far too many hard-working families and individuals are not able to overcome systemic barriers keeping them from owning a home of their own,” said Eric Cicourel, a community investment officer with FHLBank San Francisco. “Working with our members, including Patelco Credit Union, our WISH grants help put the American dream of homeownership within reach for more hard-working families, enabling them to build wealth for future generations.”

Potential homebuyers interested in this program should contact Patelco Credit Union or visit to apply. 


About Patelco Credit Union

Dublin, Calif.-based Patelco Credit Union is a not-for-profit credit union committed to serving the financial health and well-being of its membership. With more than 450,000 members, primarily in and around northern California, Patelco is dedicated to improving its members’ financial health and well-being by offering personalized solutions, advice, and expertise that empower members to live their best financial lives. Founded in 1936 with $500 in assets by Pacific Telephone and Telegraph Company employees, Patelco now has more than $9 billion in assets. For more information, visit

About the Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.


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