HomeFree-USA And Our Commitment To DEI

When we look toward the future, one thing is certain: Businesses will be fundamentally unable to grow without diverse thoughts, ideas and perspectives. As we continue to seek diverse talent, Rocket Companies^® has expanded our partnership with HomeFree-USA to drive toward a better future – both for our organization and for students who have historically received fewer opportunities than their equally-qualified peers.

But, who is HomeFree-USA and how does our partnership help us grow? Keep reading to learn more!

HomeFree-USA, a Black-founded nonprofit organization, focuses on promoting financial strength, literacy and homeownership for people of color across the country. It was established to help close the homeownership gap by giving Black Americans the resources they need to achieve and sustain homeownership long term.

In 2016, a study found that more Black Americans than ever are attending college, yet these Black students are overrepresented in majors that ultimately result in the lowest-paying jobs. HomeFree-USA saw this an opportunity and created the Center for Financial Advancement (CFA), which was founded to introduce students from Historically Black Colleges and Universities (HBCUs) to the mortgage and real estate finance industry as a career opportunity, while also elevating their financial prowess.

Founded during segregation, HBCUs were created because Black Americans were unable to pursue education at Predominately White Institutions. HBCUs set out to provide these students with a robust education and sense of community. Today, these institutions continue to provide a supportive but rigorous education for their predominately Black student body.

Through our HomeFree-USA partnership, we are currently working closely with six HBCUs: Bowie State University, Morgan State University, Fisk University, Fort Valley State University, North Carolina Central University and North Carolina A&T State University.

As a financial institution, we are uniquely positioned to educate these students. Our multifaceted partnership with HomeFree-USA, which began in 2018, has recently expanded to focus not only on continual financial education, but also on career preparation by helping HBCU students access fields where they are traditionally underrepresented.

In doing this, we are not only helping these students, but also developing a pipeline to bring new, diverse talent to Rocket Companies^®. In addition to full-time hiring, we have also committed to hiring 10% of all future interns from HBCUs.

Through the CFA Scholars Program, which currently has roughly 120 students participating, we are working with HomeFree-USA to create exclusive personal and professional development opportunities, from leadership conferences to networking workshops. These opportunities are specifically focused on teaching money management, credit enhancement, job readiness, professional training and leadership skills. Over the course of the semester, we attend and host multiple events and when possible, we will even work with students one-on-one to identify their strengths and opportunities and help them take the next step in their career.

We have always lived by a For More Than Profit^SM philosophy and culture. It’s woven into the foundation of everything we do – but there is always more that can be done. By partnering with HomeFree-USA, we are taking another step toward creating a more inclusive and diverse organization while also doing our part to serve the community by bridging the wealth and homeownership gap.

This program will also draw diverse talent to the city of Detroit, a key goal in our diversity, equity and inclusion (DEI) efforts, which extends beyond this partnership to our larger 6-Point Action Plan.

So, where do we go from here? As this school year comes to a close, we are making plans to extend the CFA initiative to additional campuses for the 2021-2022 academic year in order to maximize our impact and draw diverse perspectives into our teams.