Credit union funds supportive housing

RALEIGH, N.C. – The State Employees Credit Union and the N.C. Housing Finance Agency are teaming up to boost supportive housing for disabled and homeless individuals or families in North Carolina.

The foundation will provide zero-interest construction loans to nonprofits to build supportive housing in eight North Carolina counties. The savings generated by the loans will average about $50,000 per project.

“By investing with us in supportive housing developments, the SECU Foundation makes it much easier for local organizations to produce housing for people with disabilities and special needs,” Lucius S. Jones, chair of the Housing Finance Agency, says in a statement. “People around the state will benefit from their initiative.”

The construction loans will be repaid from financing already committed to the project, thereby allowing the funds to be used again for future housing efforts.

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