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Summit Invests 1 Million in Live Local Development Fund

October 6, 2026 Jefferson, Wis., September 21, 2026 – The Live Local Development Fund (LLDF), a revolving loan fund created to promote housing development in Jefferson County, is receiving a $1 million investment from Summit Credit Union, further expanding the public-private effort to address one of the region’s most pressing challenges.Administered by Thrive Economic Development (ThriveED), the LLDF provides gap financing for multifamily housing projects that might otherwise struggle to move forward because of rising construction costs, interest rates and other financing challenges. Because funds are repaid and reinvested in future projects, each investment has the potential to support housing development for years to come.Since launching with $3 million in 2023, the LLDF has grown to nearly $13 million through investments from public, private and philanthropic partners. Summit Credit Union’s $1 million commitment adds another significant private-sector partner to the initiative.“As a financial cooperative, we're committed to creating opportunities that help people achieve financial well-being," said Kim Sponem, President and CEO of Summit Credit Union. "Access to attainable housing is a critical part of that equation. Our investment in the Live Local Development Fund reflects our belief that when people have more housing opportunities, families thrive, local economies grow and communities become stronger."Major business expansions and new investments in the county are creating additional demand for workers and housing. For employers, that connection is increasingly important. A community’s ability to provide attainable housing options can directly affect a company’s ability to recruit and retain employees.Creating additional housing in the county also supports communities seeking to retain young professionals, accommodate growing families and provide options for longtime residents who want to remain in the area.“Summit Credit Union’s investment represents exactly the kind of partnership the Live Local Development Fund was designed to create,” said Deb Reinbold, president of ThriveED. “Housing is economic infrastructure. Our employers need places for their employees to live, our communities need housing options for people at different stages of life and our region needs the capacity to accommodate continued economic growth. Summit’s commitment gives us another powerful tool to help make that happen.”“Addressing our housing needs requires collaboration, and the Live Local Development Fund is a strong example of what can happen when government, business, financial institutions and community partners work toward a common goal,” said Jefferson County Administrator Michael Luckey. “Summit Credit Union’s investment strengthens our ability to support housing development while also supporting the workforce and economic vitality of Jefferson County.”Employers and financial institutions looking to get involved as investors are encouraged to contact Deb Reinbold at deb@thriveED.org or 920-674-8710 for more information.For more information about the Live Local Development Fund and how to apply, please visit . 
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