State Employees Credit Union (SECU) Foundation Challenges Habitat for Humanity-North Carolina (HfH NC)

02/25/2015

Raleigh, NC (February 25, 2015) ? On this day, officials from the SECU Foundation and HfH NC signed an agreement, structured to assist Habitat affiliates with the SECU Foundation challenge ("SECU Habitat Challenge") of building and selling a home in each county of North Carolina over the next three years.

"The SECU Habitat Challenge is a magnificent opportunity for Habitat affiliates across North Carolina and will be a catalyst for increasing their support for one another, and expanding our reach to unserved areas," said HHNC Board Chair Bill Cooke. "We are excited, honored and humbled to partner with State Employees' Credit Union members via their Foundation to provide homes for deserving families in all 100 counties of the State."

SECU Foundation Chair, McKinley Wooten, remarked, "SECU members are proud and excited to join Habitat for Humanity of North Carolina in their mission to create affordable homeownership opportunities for the citizens of our State. The SECU Habitat Challenge will provide a major boost to the efforts of Habitat supporters and volunteers, increasing HHNC's capacity to help additional families obtain homes in many areas of North Carolina without current Habitat services."

What: Habitat for Humanity affiliates across North Carolina are challenged to build a new home or renovate an existing home in each county. The renovations will involve the acquisition, rehabilitation, and resale of an existing home. The Habitat affiliate will select the homeowner, organize volunteers, build/renovate the homes, sell the homes at no profit, and finance them to the home buyer at 0% interest. The SECU Foundation will acquire the mortgages from the Habitat affiliates for up to $100,000 each at par, based upon an independent appraisal of each home. The SECU Foundation will also service the mortgages themselves or contract through a third party to service the mortgages. This partnership will provide up to $10,000,000 for affordable housing across North Carolina.

When: Three year challenge starting today.

Where: North Carolina

Who: Interview opportunity with HfH NC Project Manager, Bert Green

About Habitat for Humanity of North Carolina
Seeking to put God's love into action, Habitat for Humanity of North Carolina brings people together to build homes, communities and hope. Since 1983, Habitat affiliates in North Carolina have served more than 10,000 families. Visit www.habitatnc.org or call 704-716-7068 for more information.