Penquis empowers communities for success during NeighborWorks Week
BANGOR – Penquis C.A.P., Inc., a nonprofit serving Maine communities, is joining nearly 250 organizations nationwide in celebrating NeighborWorks Week, June 7–14. This annual event is led by NeighborWorks America, a congressionally chartered nonprofit that supports local organizations working to expand affordable housing, strengthen communities and improve financial well-being. Together, the NeighborWorks network empowers communities for success by investing in housing, education and local leadership.
“NeighborWorks Week is a great way to celebrate our organization’s accomplishments,” says Kara Hay, president and CEO of Penquis. “This year’s theme of ‘Creating Homes, Building America’ emphasizes the importance of working together to address the current housing challenges. With NeighborWorks’ support, Penquis has leveraged the resources and partnerships necessary to create new rental housing, preserve housing units, support homeowners and counsel homebuyers.”
Maine continues to face a significant housing crisis, with a shortage of affordable housing and a growing number of people at risk of losing their homes. Penquis is working to address these challenges by maximizing investments, including $320,500 in funding from NeighborWorks America last year, to advance local housing and community development. In the past year alone, Penquis helped 264 Mainers purchase or maintain homeownership, created or preserved 61 rental homes, provided housing education and counseling to 267 individuals and funded 161 home repairs.
“My life is 100 better better now,” says Greg Alex, a small business owner who recently became a homeowner through MaineStream Finance, a Penquis subsidiary. Alex was the first to access the Manufactured Housing Turn-Key Program, which offers an affordable path to homeownership by bundling the cost of a manufactured home and site preparation into one simplified loan.
Alex had worked with MaineStream previously to support his growing business and began exploring homeownership through conversations with their team. With personalized guidance and a financing solution that fit his goals, he was able to purchase a manufactured home and move in just in time for the holidays.
Alex’s story highlights how access to the right tools, flexible financing, trusted guidance, and affordable housing options can help individuals achieve long-term stability. With a place to call his own, he’s focused on the future and building even greater success.
Penquis is proud to be part of the NeighborWorks America network, which supports local organizations in every state, the District of Columbia and Puerto Rico. In fiscal year 2024, NeighborWorks network organizations provided more than 431,000 housing and counseling services, created over 16,000 new homeowners and owned or managed nearly 212,000 rental homes.
Penquis is a nonprofit organization incorporated in 1967 to assist individuals and families in improving their financial stability. Penquis programs and services focus efforts in four key areas: housing stability, healthy lives, access to transportation, and school readiness. Through its programs and subsidiaries, Penquis affects all of Maine’s sixteen counties but primarily serves individuals in Penobscot, Piscataquis and Knox counties. Approximately 5,000 people are served on any given day and more than 30,000 each year.