By Madeline Ackley – Editorial Intern, Phoenix Business Journal (May 30, 2019)

Two Valley financial institutions, TruWest Credit Union and Western Alliance Bank, were recently awarded a total of $3.5 million to assist struggling first-time homebuyers with down payments and closing costs on their homes.

The program, known as WISH, which stands for Workforce Initiative Subsidy for Homeownership, is funded by the The Federal Home Loan Bank of San Francisco, or FHL Bank. FHL Bank allocates funds to financial institutions across the Southwest each year for the purpose of assisting low to moderate income homebuyers with the costs of securing permanent housing.

“With Arizona being one of the fastest-growing states in the nation ... we anticipate helping up to 150 first-time homebuyers achieve that dream thanks in large part to the funds made available through this grant program,” Pamela Gorder, Western Alliance Bank's CRA manager, said in a statement sent to the Business Journal.



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With more than $25 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies and has ranked in the top 10 on the Forbes “Best Banks in America” list for five consecutive years, 2016-2020. Its primary subsidiary, Western Alliance Bank, Member FDIC, helps business clients realize their growth ambitions with local teams of experienced bankers who deliver superior service and a full spectrum of customized loan, deposit and treasury management capabilities. Business clients also benefit from a powerful array of specialized financial services that provide strong expertise and tailored solutions for a wide variety of industries and sectors. A national presence with a regional footprint, Western Alliance Bank operates individually branded, full-service banking divisions and has offices in key markets nationwide.