ACDC Launches Family Assistance Fund

BOSTON, MA. DECEMBER 2, 2008 – During its 21st Annual Meeting, ACDC officially launched a new campaign to raise funds that will go directly towards programs serving low to moderate income families in Chinatown and beyond. ACDC board president Caroline Chang, Executive Director Jeremy Liu, and Director of the City of Boston Department of Neighborhood Development Evelyn Friedman, ceremoniously marked the start of the Family Assistance Fund. Over 280 of ACDC’s supporters were in attendance to witness the launch and celebrate the momentous occasion.

Access to services, such as ACDC’s Comprehensive Home Ownership Program (CHOP), provides sorely needed resources and education for an underserved community. CHOP offers individualized counseling for housing-related issues, while eliminating language and cultural barriers to increase opportunities for its clients.  Trained counselors assist families in making sound financial decisions, giving them the tools to avoid faulty mortgage products and unscrupulous lenders.  These precautionary steps help to protect these families against foreclosure. 

“There are so many in our community who lack adequate educational opportunities or employment access. Others face challenges such as linguistic isolation and lack of familiarity with the credit system.  In fact, we have experienced a surge of interest in our homeownership classes and individualized counseling,” said Liu.  In the last fiscal year, CHOP served 219 families through homeownership counseling, 35 families through credit counseling, and 42 families through rental housing counseling.  As an affordable housing developer, ACDC also works to build and preserve affordable housing stock for hundreds of families in Chinatown and the broader Asian American community.   

With the goal of raising $50,000 through the Family Assistance Fund this year, ACDC aims to expand the outreach and impact of these important programs to more families in the region.  The benefits of the Family Assistance Fund are immediate and tangible.  For example, every $250 donated to the fund ensures individualized housing counseling for one family.  ACDC has already experienced an outpouring of support, as donors have begun to pledge their year-end tax-deductible contributions to the fund.  Contributions can also be made online [1].

There are simply not enough linguistically and culturally competent housing counselors and financial education programs that specifically target our diverse communities.  The Asian Community Development Corporation will continue to provide essential resources to eliminate barriers to home ownership and increase opportunities for low and moderate income Asian American families across the Commonwealth. 

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