Our Mission
RMCRC’s mission is to increase and preserve safe, clean affordable housing in low- to mid-income communities across the United States. For 25 years we have provided CRA-qualified permanent financing to 300 properties across 8 states.
Founding
RMCRC (fka UCRC) was formed as a non-profit company in 1999 by a group of 29 Utah-based banks committing $40 million to provide affordable housing and fulfill Community Reinvestment Act (CRA) requirements within the state. In its first 16 years, UCRC provided permanent financing for 134 affordable properties in Utah.
EXPANSION
In late 2015, UCRC became RMCRC and expanded its service area to include the following 8 states: Idaho, Montana, Nevada, Utah, Wyoming, Colorado, Arizona, and New Mexico. In the following 9 years, RMCRC grew to include 38 banks committing $626 million and provided funding for an additional 166 properties in the region.
Future
In late 2024, the board of directors unanimously approved RMCRC to pursue a national Community Development Financial Institution (CDFI) designation. This has provided a springboard for RMCRC to make a difference nationwide by bringing safe, clean affordable housing to all communities in need.
We highly recommend RMCRC as a lender. They are efficient, friendly, and have a highly skilled team to close our very complex transactions. We appreciate their mission-driven mindset, communication, and willingness to work through challenges that may arise during the loan closing process. We have closed six loans with them to date for a total of 446 units of affordable, multifamily housing. With community partners like RMCRC, we can help address the need for affordable housing in our state.