Access to safe and affordable housing in our communities remains a primary theme for Kindred as part of our Community Inspiration Framework. In support of that theme, Kindred has made a $125,000 contribution to Parkwood Seniors Community’s Independent Living Affordable Housing Project, Building A Community For All.
As the 65 and older demographic continues to grow, need for affordable housing is on the rise. The waiting list for affordable housing in Waterloo Region was 3,000 individuals or families in 2001. Today, amidst a hot residential real estate market that’s putting pressure on the rental supply, the need has doubled to more than 6,000. Adding to this challenge, many people face disproportionate barriers to access housing that is affordable.
In Waterloo Region, 10% of seniors are living in low-income and 25% of the housing waiting list is comprised of seniors. To address this growing issue, Kindred contributed $125,000 to Parkwood Seniors Community’s Independent Living Affordable Housing Project, Building A Community For All.
Parkwood is a faith and values-based not-for-profit that provides access to a range of housing options, from independent living to long-term care, on a vibrant campus with a welcoming community for older adults. Since 2004, our Waterloo branch has regularly provided onsite service to Kindred members at Parkwood.
Their upcoming expansion will include 28 affordable one-bedroom apartments for those on a modest income, with many of these units also being fully accessible. People with disabilities experience greater rates of core housing needs and many seniors are included in this group.
“Kindred Credit Union’s work to inspire peaceful, just, and prosperous communities now includes a generous donation to support affordable housing for older adults at Parkwood Seniors Community,” says Elaine Shantz, President and CEO of Parkwood Seniors Community in Waterloo and Fairview Seniors Community in Cambridge. “Their gift will have impact for decades to come and make it possible for Parkwood to sustain its commitment to relieving poverty and providing equitable access to retirement with dignity in our welcoming community. We are pleased to recognize Kindred’s gift through the naming of the Dining Patio.”
“In addition to our financial gift, we will also be exploring opportunities for financial literacy workshops for residents and their loved ones, as well as Parkwood staff,” notes Ian Thomas, Kindred Chief Executive Officer. “Kindred is committed to being a holistic patterner – not just a lender. We understand that we have a role to play in working towards positive solutions in Financial Empowerment and Safe and Affordable Housing. As such, we are excited to celebrate this important step towards the creation of safe and affordable housing in Waterloo Region with the Parkwood community!”
The project will be publicly launched on May 26 at their ground breaking. You can learn more about Parkwood and the expansion by visiting parkwoodmh.com
About Kindred Credit Union
Kindred Credit Union is a member-owned financial cooperative based in southwestern Ontario. Kindred’s values-centred approach is woven into everything we do and makes us the one-of-a-kind choice for those who want to connect their values and faith with their finances. Kindred offers a complete range of banking, borrowing, and investing products and services through eight branches and online. Members benefit from access to over 43,000 surcharge-free ATMs through THE EXCHANGE® Network in Canada and the Allpoint Network in the US. To learn more about Kindred, visit kindredcu.com.