May 28, 2024

Innovative investment saving homes for New Yorkers with complex trauma

In this time of record homelessness and increasing need for mental health services, a bold and inspiring initiative between The Federal Home Loan Bank of New York (FHLBNY) and The Partnership To End Homelessness (The Partnership) is ensuring the well-being of thousands of NYC families and communities.

This past year, FHLBNY doubled its investment in The Partnership’s Save Homes Campaign to $500,000, making it possible for families to pay off rent arrears, remain secure in their homes, avoid homelessness, access counseling, keep their children in school (which disrupts intergenerational homelessness) and focus on work and long-term sustainability.

“At the Federal Home Loan Bank of New York, we know that a stable and affordable home is the foundation from which individuals, families and communities grow and flourish. But we also know that, for many New Yorkers, the risk of losing that stable foundation has worsened in recent years. The Partnership To End Homelessness’ Save Homes Campaign is an extraordinary, innovative, and effective approach to ending homelessness before it begins. We are thrilled to be able to support The Partnership in this vital effort to help keep New Yorkers in their homes and that stable foundation in place,” said José R. González, President and CEO of FHLBNY.

The main driver of NYC homelessness is the more than 1 million New Yorkers (including 350,000 children) in 440,000 households in rental arrears and on the brink of losing their homes. Similar to the 90,000 people already in the shelter system, most identify as people of color and women-headed families account for two-thirds. A majority are living with complex trauma as a result of past child abuse and/or domestic violence. Loss of home and community corrugates their trauma and sets them on a downward spiral of intergenerational poverty and homelessness. 

“Thanks to innovative supporters like the Federal Home Loan Bank of New York, The Partnership is better able to serve New Yorkers at risk of homelessness with a prevention model that has multifaceted community impact. In addition to paying rental arrears, it facilitates access to mental health support, keeps communities intact and children in school, safeguards affordable housing, supports landlords to meet building costs, saves significant public dollars (at less than 4% of the cost of shelter), and drives public understanding that homelessness is a health issue primarily impacting women and children and preventing it is the most humane and economical solution,” said Áine Duggan, President and CEO of The Partnership.

The Partnership’s Save Homes Campaign first removes the crisis and burden of rental arrears, creating the foundation upon which families can engage in culturally-sensitive counseling, support groups and financial empowerment programming, which in turn stabilizes them in their lives and homes long term.

This past year, The Partnership provided more than 5,000 direct services and saved homes for 3,000 New Yorkers.

About the Federal Home Loan Bank of New York

The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of June 30, 2022, the FHLBNY serves 315 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers. 

About The Partnership To End Homelessness

Our values — compassion, inclusion, integrity, professionalism and social justice — steer our strategy, decision-making and operations as we work to achieve our mission of ending homelessness by preventing it.

Women and children of color account for two-thirds of people at risk of or experiencing homelessness. Many are living with complex trauma that results from histories of child abuse and domestic violence.

Our Save Homes Campaign is an upstream intervention model that combines housing and crisis services with mental health and well-being programming to prevent people from losing their homes. Our housing program — which provides rental and financial assistance — addresses immediate crises and ensures our clients keep their homes. Thereafter, our mental health and well-being services address the complex trauma our clients endure, providing culturally appropriate mental health care to stabilize clients in their homes long-term.

Ask friends to support The Partnership.