CommunityAmerica CU Helps Rebuild Kansas City’s ‘First Suburbs’

KANSAS CITY – CommunityAmerica CU has pledged to help rebuild local communities in Missouri and Kansas which were built up after World War Two, the nation’s so-called First Suburbs. The credit union is teaming up with Mid-America Regional Council's First Suburbs Coalition to offer fixed-rate home equity loans at low rates to renovate First Suburb homes. The loans of up to $30,000 will carry fixed rates as low as 6.99% APR, with terms of 10 years or less. The $1.3 billion credit union has pledged $2 million in capital for the first year of the program. More than half the homes in First Suburbs were built in the post-war era, and many of them are now out of date. Often, they have small closets, one-car garages, no master suite and too few bathrooms.