By Jess Fuller, Senior Director of Economic Impact
According to labor market data, many employees working at a bank or credit union, including bank tellers and loan officers fall within 60–120% of the Area Median Income (AMI). Even with stable jobs in Arvada/Jefferson County, they struggle to live near where they work.
For Marshall Moore, Director of Community Impact and Financial Well-Being at On Tap Credit Union, he sees how this plays out in real life too often. In just the past six months, two staff have left—not for lack of passion or opportunity, but because housing made staying untenable. One, a new father, moved out of state where housing and childcare are affordable; another left for East Denver in pursuit of homeownership. Marshall and On Tap Credit Union have developed an internal employee mortgage program and broader community housing incentives. Still, OnTap is limited in what they can provide on their own to address housing needs.
The lack of income-aligned supply outlined in our latest housing supply audit aren’t just statistics—they’re colleagues, stories, and missed opportunities for retaining a dedicated talent pool in our community, and underscore why Marshall is so committed to ensuring housing is part of the conversation among businesses.
Marshall doesn’t just see this among his colleagues but with the businesses he interacts with through his no-cost Financial Education and Coaching program. Marshall said, “Businesses are struggling to retain and attract talent because the cost of living is too high within 30 minutes of their work.” His nteraction with businesses highlights that housing is a persistent challenge for businesses across our community.
Interested in sharing how your business has been impacted by housing? Take 15 minutes to share in this form! Your story will be featured on our website and shared to illustrate the need for income-aligned housing.
Want to go beyond sharing your story? Fill out the interest form to join our Business Housing Advocate Program. Business Housing Advocates provide testimony on housing initiatives that support the workforce and community, and provide support at public hearings as they’re available.
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