A pilot program is launching in Inuvik and Fort Resolution to help people in public housing to improve their credit ratings.
Starting in July, Housing NWT clients will be able to have their on-time rental payments reported to credit agencies. The program aims to help clients build solid credit to be able to purchase homes or other expensive items.
The May 31 press release adds only positive credit ratings will be disclosed to the bureaus.
“This program is a great way for public housing clients to build credit and access more housing options,” said Minister of Housing Paulie Chinna. “This additional credit-building option – which did not exist previously – can also open up other opportunities.
“At Housing NWT, we want to provide clients with the tools they need to succeed. This is another example of how we are working towards that.”
If the program is successful in Inuvik and Fort Resolution, the release says it will be opened to other public housing clients in the NWT.