Positive Social Purpose Lending Program

Wespath Benefits and Investments and its subsidiaries, including Wespath Institutional Investments, participate in the Positive Social Purpose Lending Program described below.


Lending With Purpose – A Powerful Investment Alternative

The Positive Social Purpose (PSP) Lending Program was instituted in 1990 with the goal of promoting affordable housing and community development for disadvantaged communities, while delivering competitive returns to investors. This strategy complements our traditional fixed-income mortgage investments. The program began with a $25 million commitment to affordable housing and surpassed $2 billion in cumulative investments in 2016.

The PSP Lending Program demonstrates that investors can do well by using their money to improve the lives of others, one loan at a time. By targeting underserved market niches and partnering with established, qualified lenders, we are able to provide market returns commensurate with risk, while providing high-impact social benefit that can literally be life-changing. The loans that PSP makes offer attractive credit spreads and also provide strong prepayment protections.


Bringing Affordable Housing Within Reach

Since its inception, affordable housing loans originated through the PSP Lending Program have been used to fund the construction, rehabilitation or preservation of over 52,000 affordable housing units in all 50 states and the U.S. Virgin Islands. Our investments in multifamily, senior and special-needs housing have achieved competitive, risk-adjusted rates of return while improving the quality of life for thousands.

Under the program, we generally acquire a senior position in mortgage loans from independent third parties, usually nonprofit organizations. The completed housing units provide homes for individuals and families earning less than the area's median income.


PSP Team

Sylvia Poniecki

Sylvia Poniecki

Director, PSP Lending Program
Piotr Chwala

Piotr Chwala

Manager, PSP Lending Program

View the PSP Infographic


Visit our website for Participants, Conferences and Other Plan Sponsors: wespath.org

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