Asset Growth

HIT net assets pass the $1.5 billion mark, reaching $1.67 billion at year-end.

Homeownership Opportunities

HOI HomeownerThe HIT partners with Fannie Mae to create the Homeownership Opportunity Initiative (HOI), a mortgage program designed to serve low- and moderate-income families in the Pacific Northwest and Hawaii. In the next five years, the HIT purchases more than $120 million in mortgage securities through the HOI, representing approximately 700 mortgage loans to union and public employee households. Eventually the mortgage program is turned over to the HIT's banking partner.

HIT's 50,000th Housing Unit

McCormack HouseThe number of housing units financed by the HIT passes the 50,000 mark.

Shuler Leads Activists in Oregon

Liz ShulerLiz Shuler – the future Secretary-Treasurer of the AFL-CIO – is a 27-year-old state legislative and political director for Local 125 of the Electrical Workers (IBEW) in Oregon, Shuler's successful campaign to keep Enron Corp. from overthrowing the state's system of regulated electricity is a watershed event in her career. She will go on to IBEW leadership positions before being elected AFL-CIO Secretary-Treasurer in 2009.

National Labor College Grants Degrees

National Labor CollegeThe George Meany Center for Labor Studies receives authority from the State of Maryland to grant baccalaureate degrees and is renamed the National Labor College.