The Kirby family accepts a box containing keys to their new house prior to moving in on June 16 after fulfilling their sweat equity commitment (an investment of unpaid labor) and undergoing training on personal finance and maintenance for homeowners, among other requirements. The Kirby family was the first Habitat Monterey Bay family to secure funds for their new home through the $976 million Bay Federal Credit Union in Capitola, Calif. As part of its commitment to champion affordable housing locally, Bay Federal pledged $1.5 million in low-interest financing for families in the Habitat for Humanity Monterey Bay program. Up until now, Habitat Monterey Bay has carried and serviced all the loans for its homes. Going forward, Bay Federal's financial support will enable Habitat Monterey Bay to serve even more families as it looks to expand its portfolio of affordable homes by 30% over the next five years. With volunteer labor and often-discounted property, $1.5 million will translate into approximately five new dwellings. While Bay Federal has worked with Habitat Monterey Bay in the past to provide families with counseling from a certified financial educator ahead of their home purchase, this is Habitat Monterey Bay's first partnership for third-party financing. Third-party financing is a proven model at other Habitat for Humanity organizations across the nation, in which families take out loans at below-market interest rates with established lenders instead of carrying zero interest mortgages through Habitat for Humanity. Habitat Monterey Bay serves individuals and families who earn 50% to 80% of the area median income in Santa Cruz and Monterey counties.