For Immediate Release

March 29, 2006
Contact: Becky Fleischauer, 202-220-2360, bfleischauer@nw.org

National Network of Rural NeighborWorks Groups 'Bust A Billion' to Improve Housing, Economic Development and Financial Literacy
More than 32,000 local families get affordable housing help

Washington, D.C. — A national force of 78 rural NeighborWorks organizations surged past a $1 billion goal of rural investments that improve housing, economic development and financial literacy, and empower families to get the most out of their home purchase. More than 32,000 families nationwide benefited from the program.

The investments made by these NeighborWorks organizations sparked a range of housing improvements, including creating first time homebuyers, rehabilitating and repairing homes, providing lending assistance, and offering homeownership and financial literacy education.

“Rural communities are a powerful force when we work together,” said David Dangler, director of the NeighborWorks Rural Initiative. “Members of the NeighborWorks Rural Initiative not only pool investment resources, but they share innovations, expertise and educational materials that benefit their communities. It’s like having a national think tank devoted to rural communities.”

The national NeighborWorks Rural Initiative has not only reached a critical investment threshold nationally, but individual rural programs often have a greater impact on their local economies than their urban counterparts in a New York or Chicago. “Rural communities are highly skilled at doing more with less. I applaud them for the tremendous contribution they bring to this alliance and to their community,” said Dangler.

About NeighborWorks America

NeighborWorks America provides financial support, technical assistance and training for communities across the nation, including the NeighborWorks network — a nationwide network of more than 240 community development organizations working in more than 4,400 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks organizations have generated more than $10 billion in reinvestment and helped more than 780,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.