Carla Strickland and her daughter Caira, 5 -- at home. |
One could tell right away that Caira Strickland felt secure on a pretty fall night in the Northeast Tennessee mountain town of Erwin. The kindergartener sat at her kitchen table with mom Carla’s full attention as she ran the “drive-through” on a tabletop toy. Later she’d help Carla feed their chickens, then mom and daughter would lay and read before Caira got tucked into her own bed, in her own room, in her mom’s own home. “She’s a mama’s girl for sure,” Carla said.
Caira
will grow up in her own home largely because of Carla Strickland’s hard work and
determination. Without Appalachian Community Federal Credit Union’s involvement in the “Project Reinvest” down payment assistance program, though, Carla would probably
still be trying to save for her own place.
Caira holds "Bo" on the Stricklands' front porch. |
“I
feel like this assistance really allowed me to make the numbers work,” Carla
said. Those numbers working mean the world to Carla, who grew up mostly in
rented housing and wanted something different not just for herself, but for
Caira. Carla slept on her dad’s couch so she could afford to save money and pay
Caira’s daycare.
The
National Association of Realtors compiled information from numerous studies
about homeownership’s benefits in this 2016 study. Those benefits accrue to people like Carla, Caira and the 199
other families ACFCU helped through Project Reinvest and the $10,500 in down
payment assistance it offered each participant.
Determination keys the turnaround
Carla
Strickland did most of the work herself. ACFCU, Neighborworks America and
other Project Reinvest partners just offered a hand up. After Caira was born,
Carla declared bankruptcy and moved back home.
“I’m
sitting there with a newborn kid thinking, ‘what am I going to do?’” Carla
said. What she did was put her dental hygienist credentials to work and research
how to rebuild her credit. Carla established a savings account and opened a
secured credit card. “It was a super low limit, $500. It just went from there.
I made sure everything was paid on time, kept my usage below 30 percent and
just kept doing that. My score started going up fairly quickly.”
Carla
has seven different accounts to escrow money for everything from her house
payment to Christmas. “That way there’s no dumb decisions being made,” she
said.
Carla admitted it isn’t always easy. It took a
lifestyle change when it came to her spending and budgeting habits, and even
now, she said, “every once in awhile I splurge and buy a $25 mascara.”
Lying with Caira as read together at night, and
knowing the discipline she must maintain to keep her life on best trajectory
for her and her daughter keeps Carla focused. In turn, life-changing stories
like Carla’s keep ACFCU and its partners focused. It’s a huge part of what puts
the “Community” in Appalachian Community Federal Credit Union. We hope to be
part of many more such experiences in the months and years to come.
(Jeff Keeling is vice president of communications and community
relations for AppalachianCommunity Federal Credit Union.)
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