Westerra Credit Union Unveils Educator-Focused Initiatives

Broadening its commitment to educators, Westerra Credit Union (Westerra) has announced a series of products and initiatives designed for teachers based on educator-identified needs. The new offerings build on the credit union’s goal of addressing the specific financial barriers educators face and expanding pathways to homeownership.

Designed with Teachers in Mind

Recognizing all that teachers do for Colorado and its communities, Westerra has introduced SummerPay Saver™, a high-yield savings account offered exclusively to educators. The account provides an aggressive 6.00% annual percentage yield on balances up to $10,000, which means educators could accrue $600 annually, with opportunities to earn additional interest through further contributions. As an added token of appreciation, teachers are eligible to receive a $100 gift card when they open qualifying accounts with Westerra.

Westerra is also proud to partner with the Colorado Housing and Finance Authority (CHFA) to offer the Schools to Home program, an innovative down payment assistance initiative designed to help Colorado educators and public school employees purchase homes in and around the communities they serve. This program provides eligible, full-time public school employees with down payment assistance of up to 25% of their first mortgage loan amount. By utilizing a zero-interest, shared appreciation model that defers repayment until the home is sold, refinanced, paid off or no longer occupied as their primary residence, Westerra is actively removing the barrier of high upfront out-of-pocket costs — making sustainable homeownership more accessible for the dedicated professionals who are foundational to the community.

“Westerra was founded by teachers, and for teachers,” said Westerra’s Chief Lending Officer, Brooke Fleming. “We have a longstanding history of supporting educators and identifying financial solutions that recognize their unique needs. That means even more in Colorado’s current affordability crisis. We are proud to offer products that will help strengthen these professionals’ financial futures, from savings to homeownership.”

Westerra’s commitment to Colorado communities goes beyond supporting educators; the credit union continues to make progress in enhancing access to property ownership across the state.

Supporting Coloradans’ Homeownership Journey

As part of its expanded efforts to support Colorado’s first-time homebuyers, Westerra offers a suite of Down Payment Assistance programs (DPAs), including the Colorado Housing Assistance Corporation’s statewide payback programs, such as Broomfield DPA and Denver DPA. The credit union also recently inked a partnership with the Dearfield Fund to offer conventional mortgages with up to $50,000, or 15% of a home’s purchase price, in down-payment assistance to first-time homebuyers who have faced systemic barriers to homeownership. Additionally, the credit union has doubled down on its commitment to connecting prospective buyers with local government programs, ensuring its team of mortgage loan officers is well-versed on the opportunities available in the Denver area and beyond.

“Everyone’s path to homeownership looks different, and we want to support Coloradans by meeting them where they are at in their individual journey,” said Michelle Burke, vice president of mortgage lending at Westerra. “These down-payment assistance programs allow us to do just that, and we are committed to educating our community on the many ways the dream of owning a home can be achieved.”

Looking Ahead: A Broader Commitment to Educators

Beyond specialized financial products, Westerra is continuing to expand its community engagement footprint to support educators. Later this year, the credit union plans to announce further details regarding a new round of targeted educator grants, a future educator scholarship fund and new opportunities with the Public Education and Business Coalition (PEBC) to support teacher recruitment and retention. In addition to these offerings, Westerra has also created a financial literacy curriculum — a free resource for educators to use in their classrooms that aligns with Colorado’s financial literacy high school graduation requirements — to prepare students for monetary success following their high school graduation. These initiatives are designed to invest directly in the professional development and financial well-being of those shaping Colorado's future. 

To learn more about Westerra, its newly launched programs for educators and expanded down-payment assistance portfolio, visit www.westerracu.com/borrowing/mortgage/down-payment-assistance.