PRAIRIE VIEW, Texas (August 2, 2024) – Natriez “Nate” Peterson has been awarded $50,000 in grant funding by the Freddie Mac-Federal Home Loan Mortgage Corporation. As the Principal Investigator, Mr. Peterson has secured a total of $125,000 in funding from Freddie Mac since 2022. As a result, the staff conducted 57 housing-related workshops reaching 2,366 consumers and referring 401 consumers to lenders for housing financing. Because the Community & Economic Development Unit (CED) exceeded its expectations, Freddie Mac has recommitted $50,000 in support of homeownership education in 2024.
Peterson is an Extension Program Specialist II with Prairie View A&M University Extension’s Community & Economic Development Unit.
The Wealth Building Initiative is a collaborative effort by Freddie Mac and the Community and Economic Development Unit of the Cooperative Extension Program at Prairie View A&M University. This initiative focuses on leveraging partnerships with Historically Black Colleges and Universities (HBCUs) to enhance financial capability and homeownership education in rural communities.
Through a network of professional educators and trained volunteers, PVAMU Extension offers programs like CreditSmart® and CreditSmart Español. These programs provide practical, research-based knowledge to small farm producers, families, aspiring entrepreneurs, and youth, especially in communities with limited resources and opportunities.
PVAMU CED serves as a valuable resource center for families and individuals with limited means, helping them improve their standard of living through entrepreneurship, community programs, homeownership, and government assistance. The CED operates in several Texas counties, including:
- Waller County
- Harris County
- Liberty County
- El Paso County
- Jefferson County
- Willacy County
- Hidalgo County
- Tarrant County
- Dallas County
- Bexar County
- Maverick County
- Fort Bend County
The Wealth Building Initiative aims to expand CED’s outreach and educational programs in these areas, focusing on the following key activities:
- Offering free workshops, events, and housing fairs to educate the community about housing and financial capability.
- Partnering with community organizations and lenders to provide resources for homeowners, including refinancing education.
- Using social media to promote CED’s educational initiatives, particularly in underserved and rural areas.
- Enhancing CED’s ability to assist homeowners in underserved areas with questions about purchasing a home.
- Utilizing the CreditSmart suite of free programs, tools, and resources to educate rural communities on wealth-building, disaster preparedness, and financial literacy.
This initiative is designed to empower rural communities by providing valuable education and resources to help them build wealth and improve their financial well-being.
By Joe McGinty