TROY – Pioneer Bank President and CEO Thomas L. Amell and Habitat for Humanity Capital District Executive Director Christine Schudde announced today a partnership that will help to create more home ownership possibilities for low-income families. Pioneer now offers a special financing program for families purchasing homes from Habitat for Humanity.

 “We are pleased to be partnering with such a worthwhile organization that has a significant impact on the lives of so many in our community,” Amell said. “We’ve worked very hard along with Habitat for Humanity to come up with a financial product that will allow more people to achieve the goal of home ownership, which for our team is incredibly meaningful and rewarding.”

Pioneer’s new funding mechanism offers Habitat families low down payments and competitive interest rates. Additionally, having a banking partner in Pioneer means Habitat for Humanity is able to reinvest its commitments much more quickly.

“Pioneer Bank’s new affordable mortgage product is a game changer for Habitat for Humanity,” said and Habitat for Humanity Capital District Executive Director Christine Schudde. “By partnering with Pioneer Bank instead of lending directly ourselves, we can reinvest back into the community. Habitat homeowners leave the closing table with the keys to an affordable home of their own, and Habitat leaves with the ability to build even more homes and serve more families in the Capital Region.”

Pioneer is in the process of purchasing four existing Habitat for Humanity mortgages, and it is expected that the first mortgages using the new financial product will be closed in the coming weeks.

With 17 branches throughout the Greater Capital Region, Pioneer’s dedication to providing customers with a convenient, highly personalized level of customer service is matched only by its commitment to the values upon which it was founded. A bank firmly rooted in its local history, the Pioneer philosophy revolves around conducting business responsibly, personal investment in employees and giving back to the communities they serve.

About Pioneer Bank – Pioneer Bank is the only mutual bank serving New York’s Capital Region. Pioneer has been serving its customers with banking and financial solutions since its founding in 1889. Pioneer has earned a Five Star rating from Bauer Financial Inc. each quarter for the past 25 years, a distinction held by less than 5% of banks in the country. For more information, visit www.pioneerbanking.com.

About Habitat for Humanity – Habitat for Humanity Capital District provides hardworking

families and individuals the opportunity to purchase their own simple, decent home with an

affordable monthly house payment. Through volunteer labor and donations of money and

materials, Habitat build homes, community and hope in Albany, Rensselaer and Southern Saratoga Counties. Habitat for Humanity Capital District is an independent affiliate of Habitat for Humanity International, a global housing ministry that has served more than 5 million people around the world. Locally, Habitat has built over 100 homes. For more information, to donate or volunteer, please visit www.HabitatCD.org.